HB Wealth recruits from JPMorgan, Janney from Morgan Stanley: Advisor Moves

November 6, 2025 2:54 PM

A five-person team formerly managing $15 billion at JPMorgan's private bank has moved to HB Wealth in Charlotte, North Carolina.

Recruiting and merger and acquisition deals are constantly roiling the wealth management industry.

This week, some of the biggest moves included a five-person team at HB Wealth pulled from JPMorgan's private bank, advisors who left Truist and Balentine to start an RIA at Sanctuary and a group recruited from Morgan Stanley by Janney. For all that and new promotions at RBC and Janney and other industry developments, read below.

HB Wealth is opening an office in Charlotte with a team that had formerly managed $15 billion at JPMorgan's private bank.

HB Wealth

HB Wealth picks up JPMorgan private bankers with $15B in AUM

The large RIA HB Wealth is moving into Charlotte, North Carolina, with the addition of a five-person private banking team formerly at JPMorgan.

HB Wealth, formerly Homrich Berg, is opening an office in Charlotte with a team that had formerly managed $15 billion at JPMorgan's private bank. The group is headed by market leader Matthew Moore and includes senior wealth advisors Andrea Smith and Rebecca Warner, advisory associate Jared Green and senior administrative associate Ana Pena.

Moore has spent almost his entire career at JPMorgan, having started there in 2000. Smith began her career there in 2019, and Warner in 2016.

Although the team had overseen a sizable asset chest at JPMorgan, it wasn't immediately clear how much of that $15 billion they are likely to move over to HB Wealth. Private banking accounts often prove harder to transfer than regular advisory accounts.

HB Wealth was founded in 1989 in Atlanta and now has more than 300 employees in 12 offices in six states, managing more than $29 billion in assets. It receives financial support from the private equity firm TPG Growth, which announced plans in September 2024 to take a minority stake in HB Wealth.

Ex-Truist, Balentine advisors with $4.5B in AUM start RIA at Sanctuary

Sanctuary Wealth is adding to its independent partner network with a new registered investment advisor started by financial advisors formerly at Truist and Balentine.

The new firm, MartinWright Advisory, is based in Atlanta and was co-founded by Bradley Martin and Margaret Wright. The duo together previously oversaw more than $4.5 billion for ultrahigh net worth families at the wealth management firms Truist and Balentine Wealth Advisors.

Martin previously oversaw Balentine's Atlanta wealth management division. Before that, he worked with high net worth clients at institutions like Credit Suisse and SoFi.

Wright, meanwhile, was most recently a senior wealth advisor in the wealth management arm of Truist. She previously worked as a director at the institutional asset management firm Earnest Partners, and she started her career as an auditor at Ernst & Young (now EY.)

The arrival of MartinWright Advisory marks another significant gain for the Sanctuary platform, which has attracted multiple breakaway advisory teams in recent months. Other recent additions include advisors formerly affiliated with Morgan Stanley and UBS.

Sanctuary Wealth's network includes more than 125 firms in 32 states. It now has $55 billion in assets either under management or moving over from other firms and receives financial backing from the asset manager Azimut and private credit manager Kennedy Lewis Investment Management.

Citizens recruits private banker with $880M from Citi

Citizens Financial Group is extending into southern California with a private banker formerly at Citi.

Eric Bradley is joining Citizen's private wealth business in Newport Beach, California. He had previously managed roughly $880 million as a private banker at Citi.

Coming with him as part Bradley Wealth Partners is Megan Dia, who is joining Citizens Private Wealth as an associate wealth manager. Bradley started his career in 2013 at Pruco Securities, moved to JPMorgan the following year and finally to Citi in 2017.

"Building on our continued investment in the Southern California market, Eric Bradley and his team underscore our commitment to recruiting top wealth talent with deep regional expertise in key markets across the country," Tom Metzger, head of Citizens Private Wealth, said in a statement.

Janney pulls $400M team from Morgan Stanley

Janney Montgomery Scott is extending its presence in New York with a four-advisor team pulled from Morgan Stanley.

The Moss Bogatch Group joins Janney in Hauppage and Saratoga Springs, New York. The group had formerly managed $400 million at Morgan Stanley and is led by the advisors Craig Moss and Alan Bogatch. Moss started his career in 1983 at Prudential and moved to Smith Barney in 2008 after stints at several firms. Smith Barney was fully acquired by Morgan Stanley in 2013. Bogatch started at Asset Allocation Securities in 1988 and joined Smith Barney the same year as Moss.

Moving with them to Janney are the financial advisor Ana Ludemann and senior registered private client associate Cintra Bedassie.

The Moss Bogatch Group was the third team to join Janney from Morgan Stanley last month. Among the others was Lord Kirstien Wealth Management, a three-member group that had been managing $200 million at Morgan Stanley in Media, Pennsylvania.

Raymond James recruits $323M duo from Wells Fargo

Raymond James is adding to its channel for direct-employee advisors with a team pulled from Wells Fargo.

Kenneth "Adam" Russell and William "Major" Sosebee have joined Raymond James & Associates, the firm's employee channel, to found Providence Wealth Management of Raymond James. The pair, working out of Gardendale and Cullman, Alabama, had previously managed $323 million in client assets at Wells Fargo.

Russell started his career at J.C. Bradford in 1998, moved to UBS in 2000 and then to Wells Fargo in 2005. Sosebee started his career at Wells Fargo in 2011. Joining them at Raymond James is senior registered client associate Kim Young.

In an earnings call last month, Raymond James executives reported the firm's advisor headcount hit 8,943 in its latest quarter — a record high.

Janney names new head of advisor recruiting

Janney Montgomery Scott has pulled a new head of advisor recruiting from a firm specializing in placing senior executives in financial services, real estate and other industries.

Kathy Capuano has joined Janney as senior vice president and head of advisor recruiting and market growth from Koren Rogers Executive Search.

Kathy Capuano is joining Janney as senior vice president and head of advisor recruiting and market growth. She had previously been at Koren Rogers Executive Search for 14 years, helping to recruit financial advisors and senior executives in wealth management.

Her new position will have her working to bring experienced advisors to Janney, collaborating with regional and branch leaders and pushing Janney into new and existing markets. She will report to Kevin Reed, the president of Janney's private client group.

"Crucially, Kathy understands why advisors consistently choose Janney to build their practice and deliver a superior client experience," Reed said in a statement.

MAI Capital closes on purchase of $27B Evoke, appoints new directors

MAI Capital Management has closed on its planned acquisition of the large Evoke Advisors and has ushered a host of executives into managing director roles as a result.

MAI's purchase of Los Angeles-based Evoke, with $27 billion in client assets, brings the firms' combined asset tally to $65 billion. MAI, a large private equity-backed RIA, announced its plans to buy Evoke in August in a bid to extend the family-office types of services it can offer to its high net worth and ultrahigh net worth clients.

MAI then said it would keep the Evoke brand and build on its speciality in working with athletes, entertainers and Hollywood executives. As part of the deal, various Evoke executives have taken on new titles.

Evoke managing partner David Hou, for instance, is now managing partner for Evoke's ultrahigh net worth clients, and president Jane Eagle is managing partner for Evoke operations.

MAI Capital was founded in 1973 in Cleveland and is now majority owned by the private equity-backed firm Galways Holdings. It also has sold a minority stake to the RIA investor Wealth Partners Capital Group.

RBC appoints new divisional, complex directors

RBC Wealth Management has appointed a new divisional director and two complex directors in a change that's having ripple effects on its leadership ranks.

RBC Wealth, the U.S. wealth management division of Royal Bank of Canada, announced this week that it had promoted Scott Skinner to Mountain South Divisional Director. Skinner previously had been Mountain South divisional director and, before that, Texas South complex director at RBC.

His new role will have him overseeing 347 financial advisors, 34 branches and four complexes and operations in Texas, Arizona, Colorado, Idaho, Louisiana, Montana, Nevada, New Mexico, Utah, and Wyoming.

Skinner joined RBC in 2023. Before that, he spent a decade at UBS in Texas after beginning his career in 1993 at Merrill Lynch.

Separately, RBC announced that Darryl Traweek, now Mountain South divisional director, is becoming a complex director. He will lead RBC's 12-branch Rocky Mountain complex, part of the firm's Mountain South division.

RBC also announced the promotion of Peter Kolar to the head of a new complex in Wayzata, Minnesota. This complex will manage 90 financial advisors in seven branches. The new Wayzata complex will serve as the central hub for the firm's Minnesota branches in Wayzata, Duluth, Lilydale, Minnetonka and St. Cloud, as well as its branches in Fargo, North Dakota, and Sioux Falls, South Dakota.

Bill Boehm will retain his position as the Minneapolis complex director, where he oversees 125 financial advisors in Minneapolis, Edina, North Oaks, Rapid City, Rochester and Stillwater.