LPL Appoints New Heads of Supervision, Service
LPL Financial, the San Diego-headquartered independent broker/dealer with servicing and custody of about $2.3 trillion in brokerage and advisory assets, has appointed two new executive vice presidents in the firm’s New York office.
Suzanne Elovic has joined as executive president and head of supervision, with responsibility for enhancing the firm’s supervision experience for advisors. She was previously at AngelList, where she was chief compliance officer. She has held various legal and compliance roles over the course of her career, including at FINRA, UBS, Carta and regulatory technology firm Parallel Markets.
Mike Murphy has also joined as senior vice president and head of service. Most recently, he was with LongBridge Securities as chief operations officer. Prior to that, he was with E*Trade by Morgan Stanley, where he served as managing director of digital direct client services. In this role, he’ll oversee LPL frontline service teams.
Both will report to John O’Neill, executive vice president and head of service and supervision.
This follows news earlier this week that LPL hired Ilan Davidovici, a former principal and general partner at Edward Jones, as executive vice president of corporate strategy, a newly created role.
Nationwide Promotes Retirement, Technology Leaders
Nationwide has promoted two leaders this week in two different business lines.
Nationwide Retirement Solutions, Nationwide’s public and private sector retirement plans business, has promoted Suzanne Ricklin as its new head of distribution. She was previously vice president of retention and sales for retirement solutions distribution, which encompasses more than $208 million in assets and nearly 3 million plan participants.
She replaces Rich Porter, who left the company to pursue another opportunity.
Separately, Nationwide also promoted Misty Kuamoo to chief technology officer and senior vice president at Nationwide Financial, with responsibility for all tech solutions for the financial services businesses. She was previously serving as senior vice president and CTO of corporate tech and workplace solutions.
This follows the appointment of Michael Carrel as enterprise CTO last month.
FinServ Foundation Adds Two to Board of Directors
The FinServ Foundation, a nonprofit dedicated to developing the next generation of financial services professionals, has added Erin Wood, senior vice president of advanced planning at AssetMark, and Brian Hamburger, MarketCounsel founder and CEO, to its board of directors.
Wood has more than 20 years of experience in advisory firm ownership and enterprise leadership. Before joining AssetMark, she was head of financial planning and advanced solutions at Carson Group.
Hamburger is the founder of MarketCounsel, a strategic and regulatory consulting firm serving independent financial advisors, RIAs, and fintech firms. He’s a recognized authority on advisory firm strategy, compliance and M&A.
Omaha-Based Portfolio Manager Returns to First Manhattan
Adam Yale, a former partner and portfolio manager at Lawson Kroeker Investment Management, has joined First Manhattan, an RIA with more than $36 billion in assets under management, in Omaha, Neb.
Yale returns to First Manhattan, where he began his career more than 25 years ago. The RIA has historical ties to Omaha; the firm’s founder, David “Sandy” Gottesman, had a personal and business relationship with Warren Buffett. Gottesman was an original investor in the entity that later became Berkshire Hathaway. And Yale’s grandfather, Ike Friedman, acquired Borsheims with his father in 1947, before it became part of Berkshire Hathaway in 1989.
$400M Florida RIA Appoints Chief Growth Officer
Aventura Private Wealth, an Aventura, Fla.-based RIA with more than $400 million in assets, has appointed Dayana Velasco as chief growth officer. She joins from Wells Fargo Advisors, where she was a senior vice president and area manager.
In this role, she’ll focus on advisor development, goals-based planning and an enhanced client experience.
Aventura was launched in 2024 by Founder Shmuel Maya and his team, who moved their book from JP Morgan to Insigneo. It chose Goldman Sachs Advisor Solutions as its primary custodian.
FMG Announces C-Suite Exec Reshuffling
Dave Christensen, co-founder and former chief product and strategy officer of marketing technology platform FMG, has been appointed CEO, succeeding Scott White, who held the role for the last decade. White will transition to FMG’s board of directors.
As part of the executive reshuffling, Michelle Feinstein has joined FMG and will take on Christensen’s chief product and strategy officer duties. She came on board from Salesforce, where she served as general manager of global financial services solutions.
The firm also brought on Mo Ayadi, a former senior vice president of financial technology products at LPL Financial, as chief information officer. Ayadi will lead the information tech and security teams.
This follows news in September that GTCR, the Chicago-based private equity firm, closed on its acquisition of FMG and appointed Mark Casady, the former CEO of LPL Financial and co-founder and general partner of Vestigo Ventures, as executive chairman of FMG.
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