Lara, Shell & May, the Virginia-headquartered independent wealth management firm, has appointed Robert Walterman as its new chief operating officer, along with recruiting five advisors as it expands its presence in the DC Metro area.

Mr Walterman has some 30 years of experience in the financial services industry and counts Cowen & Company/SG Cowen, Lehman Brothers and Prudential Securities among his former employers. In his new role as COO his primary focus will be to help recruit top advisors at a national level through building on the attractiveness of the firm’s culture and mission, LSM said in a statement.

The five advisor appointees are: Steve O'Brien, previously first vice president at Smith Barney’s Reston office; Beth Levine, formerly vice president, wealth management at Smith Barney’s Bethesda branch; Paul Corley, previously vice president, wealth management at Smith Barney in Tulsa; Curtis Congdon, latterly of Ameriprise; and Douglas McPherson, a broker-agent specializing in advising construction and aggregate company owners.

"While many financial organizations were forced to cut back or reorganize, we are in the midst of an expansion that will launch us as the DC Metro market's private wealth powerhouse," said Frank Shull, LSM’s chief executive and and co-founder.