Wealth Management

Alternative investment platform CAIS recently announced that a selection of Reverence Capital’s funds and education courses will be available to RIAs and independent broker-dealers on its platform. Reverence Capital Partners is a private investment firm focused on financial services-focused private equity and structured credit. Mercer will provide third-party due diligence on the funds. As part of the announcement, Milton Berlinski, managing partner at Reverence, stated, “Through our experience across asset and wealth management, we’ve seen the challenges associated with accessing and selecting quality private market products. CAIS is uniquely positioned to provide the technological and educational resources to help tackle these concerns.” The partnership is taking place during an opportune time as a recent CAIS/Mercer study found that approximately 88% of financial advisors intend to increase their allocations to alternative asset classes over the next two years. Matt Brown, founder and chief executive officer of CAIS added, “With allocations to alternatives expected to continue rising in 2023, we believe that adding additional quality alternative products on the CAIS Platform is essential to empowering advisors to gain confidence in meeting client expectations.” CAIS serves more than 7,400 advisory firms and teams overseeing a total of more than $3 trillion in assets. Reverence Capital has about $8 billion in assets under management.


Finsum:With more than 88% of advisors intending to increase their alternative allocations, a selection of Reverence Capital’s funds will now be available to RIAs and independent broker-dealers on CAIS’s alternative investment platform.

After 16 years with Merrill Lynch, a Bank of America company, Winston-Salem, N.C.-based advisor Christy Campbell has joined Thrive Advisory Group, a unit of Alex. Brown, the St. Petersburg, Fla.-based division of Raymond James. The 21-year veteran, who has about $112 million in assets under management, will be a vice president and senior institutional consultant at the new firm. She will continue her focus on offering financial planning, wealth management, and customized strategies to a variety of clients including individuals, institutions, and small businesses. According to the website, Cambell will primarily concentrate on plan sponsors and investment committees to optimize their defined benefit, defined contribution, and non-qualified plans through tailored strategies that fit each business and its employees. Before Merrill, she previously held positions at BB&T (now Truist Financial Corp.) and Citigroup Global Markets. As part of the announcement, Campbell stated, “The decision to move my practice to Alex. Brown has allowed me to truly focus on individual and institutional client needs, which drives the investment and fiduciary process.” She added, “The systems, data security, technology, efficiencies, and expansive investment platform enable me to build customized strategies that prioritize my client’s goals.”


Finsum: Christy Campbell, a 21-year industry veteran, made the move from Merrill Lynch to Alex. Brown due to the firm’s expansive investment platform that will allow her to build customized strategies that prioritize her client’s goals.

LPL recently announced that two teams of advisors, who serve a combined $275 million in advisory, brokerage, and retirement plan assets have joined LPL’s employee advisor channel, Linsco by LPL Financial. Chris Corcoran CRPC® joins LPL from Merrill Lynch and will be the first tenant in a new Linsco office in Houston, Texas. Matt Jackson and Adam Callender CRPC® join LPL from Truist and will work remotely from Northeast Florida. Corcoran has nearly 25 years of industry experience and works mainly with oil and gas engineers and other self-made clients. Jackson and Callender have a combined 22 years of service, having worked together since 2006. They shifted from the mortgage industry to wealth management in 2010. They specialize in retirement planning, investment solutions, and appropriate risk management strategies. They will also be joined at LPL by Registered Client Service Associate Tiffany Nessmith. Both teams went with Linsco by LPL to enhance the client service experience and have the freedom and flexibility to focus on what’s best for their clients. Linsco serves advisors that are seeking independence, including owning their client relationships and having the flexibility to run their practice, the way they want.


Finsum:Two advisor teams managing a combined $275 million joined Linsco by LPL so they have the freedom and flexibility to focus on what’s best for their clients.

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