Here’s a rundown on the changes of keenest interest to insurance advisors...
By Cyril Tuohy
City Securities, an Indianapolis-based municipal broker/dealer and wealth manager, announced it has promoted eight advisors to the vice president level or higher.
Ray DiGaetano, executive vice president of City Securities’ Private Client Group, said the advisors were deserving of the promotions. The eight advisors work in and around Indianapolis and in Lafayette, Ind.
“Each of them works to understand the client’s financial circumstances and then builds a financial strategy that fits the client’s needs,” he said in a statement.
Appointing eight advisors in one initiative is unusual. The appointments were lumped together since they required the approval of the board of directors and the board meets quarterly, a City Securities spokeswoman said.
With baby boomers moving into retirement age, high college tuition and the transfer of wealth from baby boomers to Generation X over the next 20 years, financial services companies need skilled advisors to lead their wealth management units.
City Securities is organized into four divisions: the Private Client Group, public finance, corporate finance and fixed income capital markets.
Gene Tanner, a specialist in wealth management, asset allocation, estate and retirement planning, was promoted to executive vice president.
Randall K. Minas, a certified financial planner with more than 35 years of experience and expertise in municipal bonds, estate, financial and retirement planning, was promoted to senior vice president.
Shawn A. Sabau, a certified financial planner, was promoted to vice president. He specializes in investment management, municipal bonds, retirement and estate planning, and “tax-efficient investing.”
Thomas Davis, an advisor for the company’s Private Client Group since 1998, was promoted to vice president.
Also promoted to the position of vice president was Chase Newsom. Newsom, a certified financial planner and advisor with the Sagamore Financial Group, part of City Securities, has 16 years of experience. His areas of expertise include education financing, retirement and estate planning and retirement income management.
The company also announced the promotion of Drew Gleaves to the rank of vice president. Gleaves, a financial advisor with City Securities’ Mainstay Wealth Management Group, is an expert in portfolio and wealth management.
Another Mainstay advisor, Mike Harlos, was promoted to vice president, City Securities said. Harlos has 21 years of experience in the industry, and advises clients in the areas of college planning, retirement and estate planning, and asset allocation.
Tim Harris, a third Mainstay advisor, was promoted to vice president. Harris is a specialist in 401(k) rollovers, portfolio construction, retirement planning, taxable and tax-exempt bonds, mutual funds and annuities.
Cyril Tuohy is a writer based in Pennsylvania. He has covered the financial services industry for more than 15 years. Cyril may be reached at email@example.com.
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