Diana Britton

BridgePort Financial Solutions, the registered investment advisor launched by Cambridge Investment Research in 2024, has appointed Clara Sierra as managing director, replacing retiring leader Eddie Rollins. Sierra joins from Moody's Analytics and will oversee advisor experience, technology, operations, compliance and growth initiatives while reporting to Cambridge President Jeff Vivacqua. BridgePort, which allows advisors to sell partial or full stakes in their firms while accessing Cambridge's technology and support services, has already invested in or acquired practices representing over $2 billion in assets under advisement. The move reflects Cambridge's broader strategy to expand flexible ownership models for independent advisors.

Altruist Advisors, which will launch broadly in the fall, will provide the compliance, custody and operational infrastructure needed to build an independent practice.

The firm reached a confidential agreement with the Jannetti family in its case involving a $133 million FINRA arbitration award.

The acquisition of Synthesis Wealth Planning represents Bluespring’s fifth deal this year.

The 22-person Jacksonville, Fla., team, led by four partners, will use First Clearing for custody and TradePMR for middle-office support.

The $300 billion RIA brings on Steve Gaven from SageView Advisory and names Ro Mehrotra to lead its wealth planning division, among other executive shifts.

The custodian also created a new position, head of RIA strategy, and appointed Kate Mapstone, a strategic advisor at Robinhood, to fill the role.

Tanglewood Total Wealth Management has grown to $1.68 billion in assets by expanding ownership internally to six shareholders.

LPL Financial will transition Commonwealth advisors from Advisor360° to its ClientWorks platform later this year.

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