Deals & People January 21, 2025

Trump Names Acting Secretary for Department of Labor

The acting secretary will run the DOL while Trump’s nominee for secretary of labor, Lori Chavez-DeRemer, awaits confirmation.

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President Donald Trump Tuesday named Vince Micone acting Secretary of Labor, while his nominee for the position, former Representative Lori Chavez-DeRemer, R-Oregon, awaits Senate confirmation. 

Micone will run the DOL while Chavez-DeRemer goes through the Senate confirmation process. Micone assumes the role from his previous role as deputy assistant secretary for operations in the Labor Department’s Office of the Assistant Secretary for Administration and Management. 

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Trump last week also nominated former Equal Employment Opportunity Commissioner Keith Sonderling to serve as deputy labor secretary. Sonderling also awaits a confirmation hearing.  

In his deputy assistant role at DOL, Micone will provide day-to-day management to more than 770 employees in the national office and six regional offices. He also has overall leadership responsibility for policy and operations encompassing business operations, procurement, human resource management, civil rights, emergency management, security, administrative services and employee safety and health at the department, according to his DOL biography.  

Prior to joining OASAM, Micone was the executive director for enterprise services with the U.S. Department of Commerce. Micone also previously served on Trump’s 2016 presidential transition team, as well as in administrative roles at several other federal agencies including the Department of Commerce, Department of Treasury and Department of Homeland Security.  

In addition, Miccone serves as co-chair of the Combined Federal Campaign of the National Capital Area, the federal government’s workplace charitable giving campaign. Under his leadership, the campaign has raised more than $770 million in charitable contributions for tens of thousands of non-profit organizations, according to the DOL.  

The previous acting secretary, Julie Su, was nominated twice by President Biden but was never confirmed by the full Senate. The Senate Committee on Health, Education, Labor and Pensions last confirmed her nomination in February 2024. She served as acting secretary since March 2023. 

Deals & People January 21, 2025

Advisory M&A News – 1/21/25

Waverly Advisors acquires Dickinson Investment Advisors; Integrated Partners expands West Coast Footprint with addition of RetirementDNA; Concentric Wealth Management joins MAI Capital Management.

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Waverly Advisors Acquires Dickinson Investment Advisors

Waverly Advisors, LLC, a registered investment adviser specializing in investment management, financial planning and wealth management solutions for high-net-worth individuals, corporate retirement plans and institutional clients, acquired Dickinson Investment Advisors, an investment advisory firm in Council Bluffs, Iowa.

Founded in 1998 by Ron Dickinson, Dickinson offers specialized tax planning solutions as a complement to its financial planning and investment management platform. Ron is joined by his entire team at Waverly.

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This partnership expands Waverly’s  presence in Iowa. The acquisition marks Waverly’s 21st transaction since accepting an equity investment in December 2021 from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform.

“Ron and his team have created a thriving firm by fostering long-term, personalized relationships with their clients,” Justin Russell, president and CEO of Waverly, said in a statement. “We truly appreciate the priority that Dickinson places on its client relationships, as our client-centric approach is the foundation of Waverly’s culture.”

Integrated Partners Expands West Coast Footprint with Addition of RetirementDNA

Integrated Partners, a national financial planning and registered investment advisory firm serving more than $20 billion in assets under advisement, announced San Diego-headquartered RetirementDNA joined  its network.

RetirementDNA offers retirement and executive benefit plans, personalized worksite financial wellness counseling for employers and employees and private wealth management services.

Partnering with Integrated Partners will support Retirement DNA’s efforts to grow its presence in the private wealth space. Through a combination of California and Hawaii based advisers, the firm provides advisory services to more than 250 companies ranging from start-ups to publicly traded corporations.

“With the combination of our wealth management infrastructure and RetirementDNA’s deep expertise in retirement plan services, we’re creating a more robust platform to better serve clients nationwide, with a particular focus on the West Coast,” Robert Sandrew, chief growth officer at Integrated Partners, said in a statement.

Concentric Wealth Management Joins MAI Capital Management

MAI Capital Management, LLC, a registered investment adviser specializing in investment and financial planning for high-net-worth individuals and families,  acquired Concentric Wealth Management, LLC.

Headquartered in Lafayette, California, Concentric was founded in 2008 by Eric Flett and Stewart McGuire. It has since grown to a firm of six individuals and $662 million in assets under management.

Concentric specializes in providing wealth management services encompassing family wealth transfer and estate planning, tax planning and compliance, risk management and insurance, executive benefits coordination as well as business transition planning.

“As we continue to grow our presence on the West Coast, we are excited to bring on a talented team from Concentric that shares our core values of serving our clients, our communities, and each other,” Rick Buoncore, executive chairman of MAI, said in a statement.

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