Who's Moving Where In Wealth Management? – AlphaCore, Raymond James, Carson

In the dynamic world of wealth management, staying abreast of personnel changes and strategic alliances is crucial for family office professionals seeking to optimize their operations. Recent developments involving AlphaCore, Raymond James, and Carson Group highlight significant moves that may influence wealth management strategies and services.

AlphaCore's Strategic Expansion

AlphaCore Wealth Advisory has made a noteworthy appointment by bringing Dr. David Stubbs on board as the new Chief Investment Strategist. This move is part of AlphaCore's broader strategy to enhance its investment research and advisory services tailored for high-net-worth individuals and family offices. Dr. Stubbs brings over two decades of experience from prominent roles at Blackstone and JP Morgan, alongside a strong academic background with a PhD in economics.

The strategic hiring comes on the heels of AlphaCore's recent acquisitions of Callan Capital and enTrust Wealth Advisors, expanding its reach across California, Texas, and Colorado. For family offices, these expansions mean greater access to tailored investment strategies and potentially more sophisticated advisory services. Dr. Stubbs' expertise, particularly in risk management and market analysis, aligns well with the complex needs of family office clients seeking personalized and robust financial solutions.

Raymond James Welcomes New Talent

Another significant move in the wealth management sector involves Raymond James, which has onboarded Katrina Consiglio and Kristen Mahan to its employee advisor channel. Both are the founding partners of Consiglio Mahan Wealth Management and bring with them a substantial portfolio from Wells Fargo, where they previously managed over $300 million in client assets. Their team, based in Latham, New York, includes a business manager and a client service associate, reflecting a comprehensive approach to client management.

For family offices, Raymond James' continued expansion and recruitment of seasoned professionals like Consiglio and Mahan underscore the importance of aligning with firms that prioritize personalized client service and strategic wealth management. The duo’s expertise in serving families, business owners, and retirees aligns well with the multi-generational wealth management needs of family offices.

Carson Group's Strategic Partnership

Carson Group's recent partnership with Crescent Financial in Seneca, South Carolina, marks another strategic collaboration in the wealth management landscape. With Crescent Financial managing around $200 million in Assets under Management (AuM), this partnership reflects Carson Group's commitment to expanding its services and strategic partnerships.

Led by Jan Fredman and Lori Kelley, Crescent Financial brings a local touch with a global perspective, particularly beneficial for family offices looking to diversify their investment portfolios. Carson Group, with over $42 billion in AuM, provides a robust platform for family offices to leverage comprehensive wealth management services, including investment strategy, financial planning, and estate management.

Implications for Family Offices

These developments offer several takeaways for family office professionals:

- Strategic Partnerships: The partnerships and acquisitions highlight the importance of aligning with firms that offer specialized services and have a strategic vision for growth.

- Talent Acquisition: Hiring seasoned professionals with diverse backgrounds, like Dr. Stubbs, enhances a firm's capability to offer innovative and well-informed investment strategies.

- Client-Centric Services: Firms that expand their client service teams are better positioned to offer personalized and attentive service, crucial for family offices managing multi-generational wealth.

As the wealth management sector evolves, family offices must remain vigilant and adaptive, leveraging these industry shifts to enhance their investment strategies and operational efficiencies. Keeping an eye on these movements can provide family offices with fresh insights and opportunities to optimize their wealth management practices.