Deals & People June 3, 2024

Goldman Sachs Recruits New Leader of DC Large Market Institutional Sales

Heidi Walsh is joining from T. Rowe Price to work on investments, advisory services and financial wellness topics with the largest institutional defined contribution plan sponsors.

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Goldman Sachs Asset & Wealth Management announced Monday that Heidi Walsh has joined the company as a managing director in retirement solutions to lead defined contribution large market institutional sales.

In this role, Walsh will focus on building and maintaining client relationships across the largest institutional DC plan sponsors in the industry, according to Goldman’s announcement.

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Walsh will lead client engagement with institutional DC plan sponsors delivering Goldman Sachs investment solutions, advisory services and an array of financial wellness and digital solutions to the marketplace.

Heidi Walsh

She will also partner closely with teams across the client solutions group, including the institutional client business, liquidity solutions and consultant relations, as well as Goldman’s personal advice and guidance solutions, DC product and investing teams.

The Goldman Sachs Asset & Wealth Management group supports institutional plan sponsors, retirement intermediaries and insurance businesses assist participants in reaching their retirement goals through “specialized institutional investment solutions and comprehensive financial and wellness services,” according to a press release.

Before joining Goldman Sachs, Walsh was a senior sales director within the Global Investment Services Group at T. Rowe Price. She also held roles as director of consultant and advisor relations and strategic marketing. Walsh previously served as executive director with J.P. Morgan Asset Management, leading platform distribution, sales, consultant and adviser relations teams.

Overall, she brings more than 25 years of industry experience to the new role.

Walsh earned her MBA from the Robert H. Smith School of Business at the University of Maryland, College Park, and her bachelor’s degree from Hood College with a focus on economics and marketing.

Uncategorized June 3, 2024

Advisory M&A News – 6/3/24

Citizens adds Boston-based adviser team; SLK Private Wealth welcomes team with over $300 million in client assets; 5 business lines of Connectus Wealth Advisers join The Colony Group.

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Citizens Adds Boston-Based Advisor Team

Citizens Financial Group Inc. announced that Citizens Bank is welcoming another wealth team in its continuing strategy to accelerate its capabilities in key markets across the U.S.

The team is led by Brian Nagle, managing director at Citizens Private Wealth, who brings more than three decades of experience in wealth management, and previously managed nearly $1 billion in client assets.

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Nagle and his team specialize in design and management of equity and balanced portfolios for ultra-high-net-worth clients, trusts, endowments and foundations. Nagle has been named by Forbes as one of their “Best-In-State Wealth Advisors” since 2020.

“We are excited to add another nationally recognized wealth team to our growing Citizens Private Wealth portfolio, serving Boston’s ultra-high-net-worth clients,” Tom Metzger, senior vice president of private wealth management at Citizens, said in a statement.

Citizens Private Wealth offers clients and their families financial planning, investment management, deposits and lending, estate and trust planning, insurance and asset protection and tax planning and preparation. They work closely with Citizens Private Bank ultra-high-net-worth individuals, families and businesses.

SLK Private Wealth Welcomes Team With Over $300 Million in Client Assets

SLK Private Wealth, a Sanctuary Wealth partner firm, announced that Los Angeles-based advisers Adam Weinstock and Eleanor Weinstock are becoming part of SLK Private Wealth.

The team from Wells Fargo Advisors has a client base totaling more than $300 million in total assets focused on athletes, entertainers, entrepreneurs and corporate executives.  Adam Weinstock will become a managing partner of SLK, and Eleanor Weinstock will become a managing director.

SLK was founded by Managing Partners Glen Strauss, Jonathan Lewis and EJ Kahn, and includes Chief Investment Officer Razmig Der-Tavitian, Partner and Portfolio Manager Hank Krakover, and a seven-person support team. SLK’s founders left Wells Fargo in 2022 to establish ownership of their $1.6 billion independent business within Sanctuary’s network. 

“Adam and Eleanor run a sophisticated, high-touch advisory business that will fit perfectly with SLK’s culture and approach,” Strauss said in a statement. “Adam will take on a leadership role at SLK, bringing on new clients, continuing to build the practice and ensuring seamless client service for decades to come.”

5 Business Lines of Connectus Wealth Advisers Join The Colony Group

Focus Financial Partners Inc., a partnership of fiduciary wealth management and related financial services firms, announced that five U.S.-based business lines within partner firm Connectus Wealth Advisers have formally joined Focus firm The Colony Group LLC.

The business lines joining Colony are Atlas Private Wealth Management, Connectus Private, Hunt Valley Wealth, Mid-Continent Capital and NEIRG Wealth Management. Through this transaction, the Connectus advisers and clients joining Colony will gain access to Colony’s open-architecture investment platform, in-house tax planning, family office and other services.

This transaction adds senior-level talent to Colony and will strengthen its footprint in key markets, including Chicago, greater Baltimore and South Florida, according to Focus.

“We are excited to welcome these experienced and talented teams to Colony,” Zinovy Iosovich, president and chief services officer of Colony, said in a statement. “Each brings a unique offering and core competency, and we are committed to providing the advisory teams additional depth and broader capabilities to better serve their clients.”

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