Deals & Moves: Citizens Wealth Push Adds $1B Tampa Advisory
Citizens Financial Group, a Providence, R.I.-based bank and wealth manager with $233.8 billion in assets, has added a Tampa-based advisory team to Citizens Private Wealth that previously served clients holding more than $1 billion in assets for Northern Trust.
The team, now operating as MacLellan Bickle Wealth Partners within Citizens Private Wealth, is led by managing directors Chris MacLellan and Katie Bickle and serves high-net-worth and ultra-high-net-worth individuals, families and business owners with investment management, financial planning and advisory services.
The addition adds to a wealth push by Citizens as it seeks to blend its banking and financial advice services.
The private wealth group has added 12 teams since 2024 that had overseen $12 billion in client assets, including a $1.5 billion advisory team in New York and an $800 million team based in California. This year, it also added two advisors to lead a 401(k) advice practice.
“The addition of MacLellan Bickle Wealth Partners reflects our continued investment in attracting top talent to Citizens Private Wealth in key markets,” Paul Casey, head of Citizens Wealth Management, said in a statement.
MacLellan will focus primarily on investment management, while Bickle, who brings a background in trust and estate law, will lead relationship management and planning, according to the announcement.
Citizens already has private wealth teams in Boca Raton and Naples, Fla., private bank offices in Palm Beach and West Palm Beach, and a Citizens Commercial Bank office in Tampa.
Mercer Advisors Acquires $220M Ohio Firm
Mercer Global Advisors, a Denver-based registered investment adviser with $111 billion in client assets, has acquired NorthAvenue Financial Advocates, a Columbus, Ohio-based wealth management firm with more than $220 million in assets under management.
NorthAvenue, founded by Kristen Moosmiller, has focused on investment management and tax planning and preparation for over seven years.
“As we looked to the future, we sought a partner that could expand the resources available to our clients while preserving the personalized relationships and boutique experience that defines us,” Moosmiller, founder and senior advisor of NorthAvenue Financial Advocates, said in a statement.
The acquisition adds to Mercer Advisors’ presence across the Ohio Valley, one of the firm’s fastest-growing regions, according to the firm. Since 2019, Mercer Advisors has grown its Ohio Valley business from approximately $100 million in client assets to more than $2.2 billiony. That footprint includes offices in Cincinnati, Westerville, Ohio, Indianapolis, Pittsburgh and Lexington and Louisville, Ky.
The partnership also expands Mercer Advisors’ Women & Wealth practice by adding NorthAvenue’s predominantly women-led team, the company said.
Mercer Advisors is majority owned by Oak Hill Capital, Genstar Capital and Altas Partners and operates through more than 120 U.S. locations with over 1,700 employees.
Janney Montgomery Scott Adds $150M Advisor in Connecticut
Janney Montgomery Scott LLC, a Philadelphia-based firm, has added Financial Advisor Jenna Fiore as first vice president of wealth management in Glastonbury, Conn., managing nearly $150 million in client assets.
Fiore joins Janney from Wells Fargo and brings nearly 15 years of financial services experience working with individuals and families to develop strategies aligned with their financial goals, the company said.
“Joining Janney gives me the opportunity to continue serving clients with the personalized approach that has always been central to my practice,” Fiore said.
Fiore began her financial services career with AXA Advisors in 2012 before joining Wells Fargo Advisors in 2015, according to BrokerCheck.
KKR took over ownership of Janney from Penn Mutual Life Insurance Company in the summer of 2024. The broker/dealer has been actively recruiting advisors since, adding two FNB advisors in April and a former $1 billion Delaware team from Merrill Lynch in February.
Steward Partners Refinances and Expands Credit Facility
Steward Partners, a Stamford, Conn.-based RIA of partnered firms with $57 billion in assets under advisement, has completed a refinancing and expansion of its senior credit facility to support recruiting, acquisitions and growth initiatives. The firm did not respond to a request for comment on the amount of the credit line
The new facility is led by Blackstone Credit & Insurance, with participation from new lenders including MidCap Financial, Morgan Stanley and Blue Owl Capital, alongside existing lenders, including the Ares Credit funds and Audax Group.
“This expansion of our credit facility is a direct reflection of the momentum we’ve built as a firm and gives us the capital foundation to keep building on the advancements we’ve created over the past several years,” CEO Jim Gold said in a statement.
In December, Steward Partners secured a $475 million capital raise from alternative asset manager Ares in the form of a non-controlling minority stake and expanded lending relationship. Steward is majority-owned by its employees, with minority interests held by The Cynosure Group and the Pritzker Organization.
Since putting its initial credit facility in place four years ago, Steward Partners has grown assets under advisement from $24 billion at that time, the company said.
