Chicago-based brokerage and investment advisory firm David A. Noyes has hired an executive away from Fifth Third Bank to join the ranks of its wealth advisors as a vice president.
Before joining RIA and brokerage David A. Noyes, Nick Minkov led a team at Fifth Third Bank that covered 14 financial centers in downtown Chicago. Minkov earlier had worked at PNC bank as an advisor and a compliance officer for Edward Jones.
"This regional firm has a great history, experienced leadership and a wonderful service platform,” Minkov told On Wall Street. “I’ll be able to focus on each client’s unique financial planning needs and provide solid, objective advice, which is critical in today’s volatile economy.”
At Noyes, Minkov will be a wealth advisor, working with businesses and high-net-worth individuals.
“I’ll be providing equity, ETF, UIT, and fully underwritten life insurance recommendations to the M.B. Vick Division,” he said. This division, which became part of Noyes in 1997, was established in 1933 and has been known for fixed-income. Equity, dividend and growth investments may complement the fixed-income positions held by M.B. Vick clients, Minkov added.
According to Minkov, soliciting from his previous employer is prohibited until January 2013. “After that period,” he said, “there is the potential for $30 million to $40 million of assets under management and $16 million in fully- underwritten life insurance.”
Eventually, Minkov’s goals at Noyes include building a book of business over $100 million in AUM and coaching a team of junior financial advisors.
RIA and brokerage David A. Noyes was founded in 1908 and has more than $3.5 billion under management and more than 80 financial advisors.
Danielle Reed writes for Financial Planning.
Donald Jay Korn writes for On Wall Street.