The latest moves, personnel changes and appointments in North American wealth management.

Osaic, True Wealth Advisors
Osaic, a wealth management firm, said that True Wealth Advisors, formerly with LPL Financial, has joined it.

The Englewood, Colorado–based firm oversees more than $705 million in client assets.

True Wealth is led by Mason Samuels, and a five-advisor group including Alex Goldstein, Lloyd Sprague, Sam Grizzle and Ryan Nuu; they are supported by Sami Merrick, Jake Rolin and Ruth Leyerle. 

True Wealth is the latest advisory team to join Osaic from LPL, following the affiliation of Simplified Wealth Management and AFC Planning Group in September. 

Raymond James
Financial advisors Matt Kern and Brad Collins, who are based in Charlotte, North Carolina, have joined the independent advisor channel of Raymond James.

The advisors come from MML Investors Services where they managed over $120 million in client assets. They operate as Diamond Grove Wealth Management.

Mesirow
Mesirow, a financial services group, has appointed Nitay Laor to join its wealth management business as director, strategic growth and acquisitions. 

In this newly-formed role, Laor will lead efforts to execute both organic and inorganic growth strategies, including strategic partnerships, acquisitions and advisor recruitment.

“Nitay’s strategic insight, proven M&A expertise and understanding of the Mesirow culture make him uniquely positioned to drive our next phase of growth,” Brian Price, CEO of Mesirow Wealth Management, said. “His leadership will play a key role in strengthening our partnerships, expanding our reach, and furthering Mesirow’s commitment to empowering clients and advisors alike.”

Nitay brings expertise and a track record from his tenure at Mesirow Investment Banking, where he served as vice president, leading transaction execution across diverse industries such as industrials, business services, and packaging.

Mesirow Wealth Management has more than $13.9 billion in assets under management/assets under advisement. Overall, Chicago-headquartered Mesirow has $338.2 billion in assets under supervision.

bfinance
London-headquartered bfinance, an investment consultancy, has appointed Donn Cox as its first head of North America. Cox – an industry veteran best known for founding LP Capital Advisors and his subsequent positions within Pavilion Alternatives Group and Mercer – will head up a growing team of consultants in the US and Canada based in offices in Chicago, Toronto and Montreal.  

Cox’s appointment in this newly-created role will expand the firm’s senior leadership team and strengthen its footprint across North America. Based in the firm’s Chicago office, Cox has a broad leadership mandate that includes building and managing the North American team, overseeing client relationships and project delivery, accelerating growth across all channels, expanding access to the firm’s newer service offerings, and strengthening collaboration across global research teams.

He brings more than 25 years of experience in investment consulting, alternative investment, and program management. Cox founded LP Capital Advisors in 2004, where he was president and managing director for more than 10 years until Pavilion Financial Corporation acquired the business in 2014. He then became president and managing director of Pavilion Alternatives Group and, subsequently, global leader at Mercer’s Alternatives group after Mercer acquired Pavilion in 2018. As such, he has been at the forefront not only of shifts in the institutional investment management industry but of dynamics in the investment consulting sector as firms respond to a shifting investor ecosystem and technological change. 

Established in 1999, bfinance has served institutional investors in 47 countries representing over $8 trillion in assets including pension funds, insurers, endowments, foundations, family offices, and wealth managers. The firm has been active in Canada since 2006, with a client base of more than 50 institutions in the country. It opened its first US office in 2017.