A nine-person advisory team has joined Wells Fargo Advisors Financial Network (FiNet) under the name Twin Harbors Private Wealth, bringing more than $1.4 billion in client assets to the independent broker-dealer channel. The group, based in Melville, N.Y., began operating under FiNet on Monday, according to a statement from the firm.
The team is led by managing partners Jeff Wang, Joseph Ilg, and John Rizzo, and includes partners Corey Streim and Kyle Napolitano, along with Daniel Sporn, CFP, first vice president. They are supported by Alyssa Oviasogie, Denise Bonifazio, and Diane Gibbons. The advisors previously worked across two separate teams at Merrill Lynch before combining to move to the independent model. In a joint statement, the group cited operational autonomy as the deciding factor: "We wanted the freedom to build a practice entirely around the client experience, from the technology we use, to the planning process, to the way we communicate and grow our business."
The arrival marks the second billion-dollar-plus team to affiliate with FiNet in Wells Fargo Wealth & Investment Management's Long Island market this year. In January, FiNet welcomed Infinity Private Wealth, another ex-Merrill team that reported managing $1.8 billion. The move underscores a broader trend of breakaway brokers seeking greater independence, as seen in recent LPL and Osaic capture $1.4B advisor team in dual breakaway from Raymond James.
Osaic Gains $200M from LPL
Du Lac Wealth Services, a Cary, N.C.-based advisory firm, has transitioned from LPL Financial to Osaic, bringing approximately $200 million in client assets. The firm is led by Managing Director James Mertens, CFA, a 20-year industry veteran, along with wealth advisors Garrett Railsback and Kerry Goodman, and client experience manager Jaunt'e Smith. Mertens said Osaic "is a great match for our service-first culture and how we grow our practice."
A core part of Du Lac Wealth's growth strategy centers on acquiring books of business from retiring advisors. Mertens highlighted Osaic's ability to offer "key resources to level the M&A playing field." The firm emphasizes tax-aware portfolio transitions and relationship continuity during ownership changes. The move follows similar transitions to Osaic, including firms C&N Wealth Management, The Finance Couple, and Gardner Wallace Financial. This comes amid ongoing leadership changes at Osaic, as reported in Osaic Loses EVP Dimple Shah Amid Leadership Restructuring and New Capital Infusion.
Raymond James FNBO Program Adds $515M Duo
Raymond James Financial Institutions Division (FID) has added financial advisors Peter Braun and K.C. Hosey to First Investments & Planning at First National Bank of Omaha (FNBO), a bank-based investment program. The Kansas City, Mo.-based advisors manage approximately $515 million in client assets and previously operated under UMB Financial Services. They serve high-net-worth individuals, families, and business owners through Raymond James Financial Services.
Grace Austin, senior vice president and North division director of FID, said the addition reflects a deliberate growth strategy for the bank's wealth program. "Peter and K.C. bring strong experience and a clear focus on client outcomes, and we're proud to support their transition as the program continues to scale," Austin said. Christopher Ruggiero, senior vice president and head of wealth and institutional services at FNBO, described the move as part of a broader push to extend the bank's multigenerational service capacity.
The duo's arrival is the latest in a sustained expansion at First Investments & Planning. Since January, the program has added nine advisors representing more than $1 billion in client assets in total, including last week when it welcomed an advisor trio formerly operating through Country Club Trust Company, a subsidiary of Country Club Bank that FNBO acquired. The trend of bank-based programs gaining momentum is also evident in Osaic, Raymond James, LPL Recruit Advisors Managing Nearly $1B in Client Assets.
