Avantax Expands with Addition of Long Island-based S&P Financial Services
Avantax Inc., a firm within the Cetera Financial Group, recently made a significant addition to their team by bringing on financial advisers John Surace, Kelly Powers, and their S&P Financial Services team based in Hauppauge, New York. This move showcases Avantax’s commitment to expanding their tax-focused financial planning and wealth management services.
With approximately $150 million in client assets under administration, S&P Financial Services has a strong mission to build lasting relationships with their clients. John Surace, with his background as an executive at a global financial services firm, brings a wealth of experience to the team. Kelly Powers, on the other hand, has a solid track record of managing client assets for 30 years.
In a statement, John Surace expressed his initial skepticism about transitioning to a new broker/dealer but was pleasantly surprised by the level of service and support provided by Avantax. This positive experience has solidified their decision to join the Avantax team.
In other news, Blue Owl Capital Inc. announced the acquisition of Atalaya Capital Management LP for $450 million. This strategic move will enhance Blue Owl’s alternative credit capabilities and position them as a leader in direct lending. Atalaya’s focus on asset-based credit investments across various sectors makes them a valuable addition to Blue Owl’s portfolio.
Additionally, CW Advisors LLC completed the acquisition of Mercadien Asset Management LLC, based in New Jersey. This acquisition marks the third for CW Advisors since partnering with Audax Private Equity. The addition of Mercadien Asset Management strengthens CW Advisors’ presence in the Mid-Atlantic region and expands their offering to clients.
These recent developments in the financial services industry highlight the importance of strategic partnerships and acquisitions in driving growth and expanding service offerings. Stay tuned for more updates on the evolving landscape of financial planning and wealth management.
