Michigan-Based Independent Advisory Firm Launches Via Dynasty Platform
Family Wealth – Michigan-based Arbor Trust Wealth Advisors, comprised of four individuals from United Bank & Trust, has joined Dynasty Financial Partners’ platform of integrated wealth management services and technology.
Financial advisors Charles Waterhouse, James Winslow, Carol Sewell and Gary Haapala collectively advise on over $350 million in client assets.
Arbor Trust will gain access to Dynasty’s investment and technology platform, which leverages Dynasty’s investment committee and internal investment operations team. Dynasty’s RIA middle-office “Core Services” platform will provide turnkey marketing, CRM, financial planning, proposal support, and client reporting. Charles Schwab will provide primary clearing and custody services.
Waterhouse, a partner and senior financial advisor, is the former chief executive of Guaranty Federal Savings Bank and chief financial officer of Arcadia Bank & Trust. Other past roles he has held include vice president and senior financial advisor at United Bank & Trust and vice president of the employee benefits trust office at Huntington Bank. At Arbor he heads up the firm’s investment committee and specializes in investment management, investment strategies and solutions development.
Winslow, a partner and senior FA, leads Arbor’s financial planning efforts, with a focus on client management, financial planning, investment strategies and investment management. He is also a member of the firm’s investment committee. Winslow began his career at First of America Bank and has held other client management and wealth management posts at BR Chamberlain & Sons, Key Bank/McDonald Investments and United Bank & Trust, where he was a senior FA.
Sewell, also a partner and senior FA, specializes in estate planning and estate tax law, and chairs Arbor’s fiduciary committee. Her seven years as an attorney at the law firm Koley Jessen were followed by six years as a senior vice president of trust administration at United Bank & Trust.
Lastly, Haapala, a managing partner and senior FA, manages the operations of the firm and also provides strategic planning and wealth management advice. He too serves on the investment committee and the fiduciary committee. Haapala was previously president of wealth management at United Bank & Trust; region manager and vice president of the private client group at Fifth Third Bank; and group manager and first vice president of institutional trust at Comerica Bank.
Dynasty Financial Partners develops, sources and integrates wealth management services, solutions and technology for independent advisor teams across the US.
Advisors are switching channels and broker-dealers at a quick pace in midsummer
Dynasty Financial Partners of New York said a group of four newly independent advisors has formed Arbor Trust Wealth Advisors and will be working with its wealth management platform.
Financial advisors Charles Waterhouse, James Winslow, Carol Sewell and Gary Haapala all join Arbor Trust Wealth Advisors from United Bank & Trust. The four advisors collectively manage more than $350 million in client assets.
“Arbor Trust Wealth Advisors was created to provide sophisticated investment and estate planning advice to our highly educated community,” said Haapala, in a statement. “As an independent financial and investment planning firm, we want to provide our clients — professors and administrators, physicians, entrepreneurs and others — with complete objectivity and transparency.”
The group will access Dynasty’s investment and technology platform, including the RIA middle office Core Services platform. Charles Schwab will provide primary clearing and custody services for the team.
“Charlie, Jim, Carol and Gary are extraordinary investment advisors with a deep commitment to their unique Southeast Michigan community,” said Shirl Penney, President and CEO of Dynasty Financial Partners, in a press release. “Dynasty has increased its commitment to the Midwest and devoted resources to support leading teams such as Arbor Trust who are seeking independence.”
ON THE MOVE-Dynasty adds new practice in Michigan- Reuters
Aug 4 (Reuters) – New York-based Dynasty Financial Partners said on Monday it had added a team of four advisers from United Bank & Trust to start an independent advisory practice affiliated with Dynasty.
Financial advisers Charles Waterhouse, James Winslow, Carol Sewell and Gary Haapala, who collectively managed $350 million in assets at United Bank & Trust, launched Arbor Trust Wealth Advisors on Monday.
Dynasty is a wealth management group founded in 2010 by former Smith Barney and Citigroup executives that designs technology and investment products for independent advisers.
Arbor Trust Wealth Advisors, located outside of Ann Arbor, Michigan, pays Dynasty a “partnering” fee to access its investment technology, research and analytics.
Arbor Trust’s managing partner, Gary Haapala, said that over the seven years his team has worked together, it gradually warmed to the idea of starting its own independent practice.
“We’ve all worked at large organizations and each of us have found smaller organizations to be more entrepreneurial,” Haapala said.
United Bank & Trust, a subsidiary of Old National Bancorp , did not immediately respond to requests for comment. (Reporting by Elizabeth Dilts; Editing by Steve Orlofsky)
United Bank FAs Partner with Dynasty to Launch Mich.-Based RIA
Four former United Bank & Trust advisors partnered with Dynasty Financial to launch Arbor Trust Wealth Advisors on Monday.
Led by financial advisors Charles Waterhouse, James Winslow Gary Haapala and estate attorney Carol Sewell, the Cantor, Mich.-based team has $350 million in assets collectively under management.
“Arbor Trust Wealth Advisors was created to provide sophisticated investment and estate planning advice to our highly educated community,” Haapala said Monday.
The new RIA will utilize Dynasty’s investment and technology platform, as well as the Core Services platform, which provides turnkey marketing, CRM, financial planning, proposal support, and client reporting. Charles Schwab will act as Arbor Trust’s primary clearing firm and custodian. “We were looking for an organization that allows us to be entrepreneurs and do what’s best for our clients,” Haapala says of Arbor Trust’s partnership with Dynasty.
The four advisors have been working together for the past seven years at United Bank, Haapala says and starting talking about spinning out their wealth management practice five years ago. But Haapala says United Bank & Trust’s decision in January to join forces with Old National Bancorp and Old National Bank spurred them to think about branching out on their own. “We really wanted to deliver the best client experience.”
Haapala says Arbor Trust is looking to grow organically, although they’re not opposed to considering strategically identifying any potential acquisition targets to grow.
“Charlie, Jim, Carol and Gary are extraordinary investment advisors with a deep commitment to their unique Southeast Michigan community,” said Shirl Penney, President and CEO of Dynasty Financial Partners. “Dynasty has increased its commitment to the Midwest and devoted resources to support leading teams such as Arbor Trust who are seeking independence.”
Leading Southeast Michigan-Based Wealth Management Team Launches Arbor Trust Wealth Advisors as an Independent Advisory Firm
NEW YORK–(BUSINESS WIRE)–Dynasty Financial Partners today announced its partnership with Arbor Trust Wealth Advisors, the most recent independent investment advisory firm to leverage Dynasty Financial Partners’ industry-leading platform of integrated wealth management services and technology.
“Arbor Trust Wealth Advisors was created to provide sophisticated investment and estate planning advice to our highly educated community”
Financial advisors Charles Waterhouse, James Winslow, Carol Sewell and Gary Haapala all join Arbor Trust Wealth Advisors from United Bank & Trust. The four advisors collectively advise on more than $350 million in client assets.
“Arbor Trust Wealth Advisors was created to provide sophisticated investment and estate planning advice to our highly educated community,” said Mr. Haapala. “As an independent financial and investment planning firm, we want to provide our clients —professors and administrators, physicians, entrepreneurs, and others —with complete objectivity and transparency.”
The company will access Dynasty’s groundbreaking investment and technology platform, which leverages Dynasty’s investment committee and internal investment operations team. Dynasty’s leading RIA middle office Core Services platform will provide turnkey marketing, CRM, financial planning, proposal support, and client reporting. Charles Schwab will provide primary clearing and custody services.
“Charlie, Jim, Carol and Gary are extraordinary investment advisors with a deep commitment to their unique Southeast Michigan community,” said Shirl Penney, President and CEO of Dynasty Financial Partners. “Dynasty has increased its commitment to the Midwest and devoted resources to support leading teams such as Arbor Trust who are seeking independence. We are excited to be their transition and growth partner, and we are proud to add them to our Dynasty Network of truly independent advisors.”
Team Bios:
Charles N. Waterhouse
Partner, Senior Financial Advisor
In addition to his 35 years of financial industry experience, Charlie Waterhouse also has a keen understanding of the wealth management needs of business executives—because he has been one himself. The former CEO of Guaranty Federal Savings Bank and CFO of Arcadia Bank & Trust, Charlie heads up the Firm’s Investment Committee, and specializes in investment management, investment strategies and solutions development for the firm’s clients. His additional tenures include positions as Vice President & Senior Financial Advisor at United Bank & Trust and as Vice President, Employee Benefits Trust Office at Huntington Bank.
Charlie graduated from the University of Michigan with a Bachelor of General Studies with concentrations in Economics and Accounting.
James W. Winslow, CFP
Partner, Senior Financial Advisor
Jim Winslow brings more than 20 years of financial industry experience to the table for the firm’s clients. As a Certified Financial Planner®, he leads the Firm’s financial planning efforts. His key disciplines include client management, financial planning, investment strategies and investment management. He is also a member of the Firm’s Investment Committee. Jim began his career at First of America Bank and has held additional client management and wealth management positions at BR Chamberlain & Sons, Key Bank/McDonald Investments and United Bank & Trust, where he served as a Senior Financial Advisor.
Jim is a graduate of the University of Michigan, earning a Bachelor of General Studies with a concentration in Marketing and Spanish. He also holds a Master of Science in Financial Planning from the College for Financial Planning.
Carol A. Sewell, J.D.
Partner, Senior Financial Advisor
As an attorney specializing in estate planning and estate tax law, Carol Sewell adds a vital dimension to the firm’s experience profile. An expert on fiduciary oversight including trust and estate administration, Carol provides the firm’s clients with advice on intergenerational wealth transfer and estate planning strategies. She chairs the Firm’s Fiduciary Committee. Her seven years as an attorney at Koley Jessen, P.C. were followed by an additional 6 years as a Senior Vice President of Trust Administration at United Bank & Trust.
Carol graduated from Oklahoma State University with a Bachelor of Science in Finance with Double Minors in Accounting and Commercial Bank Management, and earned her J.D. degree from Wayne State University Law School.
Gary D. Haapala
Managing Partner, Senior Financial Advisor
With 29 years of financial industry experience, Gary Haapala manages the operations of the firm in addition to providing strategic planning and wealth management advice to clients. He also serves on the Investment Committee and the Fiduciary Committee. Gary’s extensive resume includes tenures as President of Wealth Management with United Bank & Trust, overseeing Trust Services and Financial Planning, United Investment Services and UB&T Insurance Agency; Region Manager, Vice President, Private Client Group with Fifth Third Bank, and Group Manager, First Vice President, Institutional Trust with Comerica Bank.
Gary earned his BBA with a concentration in Finance from Eastern Michigan University.
About Dynasty Financial Partners
Dynasty Financial Partners is the leading independent integrated platform service provider to the industry’s elite advisor teams. Dynasty develops, sources and integrates the finest wealth management capabilities, solutions and technology into its customized open-architecture platform to help independent advisors protect and grow their clients’ wealth. Dynasty’s core principle is “objectivity without compromise”, and the firm is committed to crafting solutions that allow investment advisors to act as true fiduciaries to their clients. For more information, please visit www.dynastyfinancialpartners.com and follow us on Twitter @DynastyFP.
Contacts
Media
Dynasty Financial Partners
Sally Cates, 212-373-1000
sallycates@dynastyfinancialpartners.com