Three teams of advisors have left their firms to start their own registered investment advisory firms this week, according to regulatory filings.
Denver Gilliand, whose Minneapolis-based team joined Hightower in 2016, has launched DSG Capital Advisors in Edina, Minn. He’s joined by Klair Reese, director of family office services; Carrie Ackley, CCO; Nicole Gilliand, director of marketing and human resources; Tracey Eichten, manager of family office and foundation services; Cynthia Slater, client relationship manager; Analysts Jack Bridgeman and Ryan O'Rourke; and Craig McPherson, director of the aviation division.
The team had about $315 million in assets when it joined Hightower. The new RIA’s Form ADV did not list current assets under management.
The new RIA will use LPL Financial, Schwab and Fidelity for custody. The firm will provide investment advisory services to high-net-worth individuals, families, trusts, estates and businesses, according to the filing.
Advisor David Wagner has left his team at Merrill Lynch to create Tidecrest Wealth Management in Newport Beach, Calif. Wagner is serving as CEO and CIO, and he’s joined by Troy Brown, chief operating officer and director of financial planning, who also came from Merrill, and Trent Kolden, senior wealth management associate.
Wagner was previously part of The Buchholz Moore Wagner Wealth Management Group at Merrill. Advisors William Moore and Melissa Buchholz are still with the wirehouse.
Tidecrest will use Fidelity for custody.
The firm provides portfolio management, investment analysis, financial planning, retirement planning, retirement plan consulting, and estate planning, according to its Form ADV. It serves affluent individuals, non-profits, pre-retirees and retirees, executives and professionals, business owners, qualified retirement plans, and corporations.
Meanwhile, brothers Chad and Wes Hunter have left Bison Wealth, the RIA division of Bison Holdings, to launch Alectra Wealth Advisors in Pinellas Park, Fla., according to regulatory filings. Once they receive regulatory approval, Chad will serve as CEO, while Wes will serve as chairman of the RIA, which is owned by Riaka Holdings. Torian Johnson, former CCO of Csenge Advisory Group, will serve as CCO.
The brothers joined Bison Wealth in May 2022, when they moved from Merrill Lynch, along with advisor Shawn Jiles. At that time, the team had $1 billion in client assets. Jiles is staying at Bison.
Alectra will provide comprehensive wealth management advisory services, investment advisory and portfolio management services, and business consulting.
The RIA does not list a custodian on its Form ADV.
Chad Hunter, Wagner and Gilliand did not return requests for comment by press time.
All three RIAs have joined the Protocol for Broker Recruiting, which governs the use of client information when registered representatives move between firms.
