Rockefeller Capital Management has recruited two financial advisor teams from rival brokerage firms that together managed nearly $1.1 billion in client assets. Sage Wealth Partners, based in Houston, joined Rockefeller from J.P. Morgan Securities, where the team managed $700 million in assets. The Ohio team of Shea Wealth Partners decamped from UBS, where it handled $350 million in assets.
The teams' client assets will add to Rockefeller's total assets under management, which stood at $237 billion as of Aug. 31.
J.P. Morgan, a unit of JPMorgan Chase, and UBS didn't immediately respond to requests for comment on the departures.
Sage Wealth Partners is led by Chris Sheets and Forrest Green, who are managing directors. The practice also includes Cameron Sheets, Chris' son; Nick Routzahn, a Certified Financial Planner; and Hayden Kerns. All three are advisors and vice presidents. Karoline Humphries, the team's chief operating officer, and McKenna Whitney, a client associate, also joined Rockefeller in the move.
Shea Wealth Partners, based in the Cleveland suburb of Woodmere, is led by Managing Director Andrea Shea, a CFP, and includes her son Marty Shea, an advisor and vice president. The team also includes support staffers Kiana Kaufmann and Garrett Manges.
Both teams serve high- and ultrahigh-net-worth individuals and multigenerational families.
The Sage team offers family office services including tax preparation and filing and foundation administration. The practice also provides next-generation family financial counseling and says it advises on a host of lifestyle issues such as art, eldercare, and private aviation.
Shea offers many of those same services, including a family-office model and lifestyle advice.
Sage generated $4.8 million in annual revenue at J.P. Morgan. Shea produced $2.5 million in revenue at UBS.
Write to advisor.editors@barrons.com
Comments