Asset Dedication, Mariner Holdings, California Investment Trust and BondDesk make key hires

RIABiz is covering the recent surge of hiring in two stories today. This one is a collation of recent hires and job changes that have crossed our desks. The other looks at the hiring boom — and what will happen to advisors who don’t haven’t acted fast enough to develop a hiring and retention plan. If you know of other hires, please send them to Elizabeth MacBride, Elizabeth@riabiz.com.

People with skills in marketing and a knowledge of what makes financial advisors work are in a good position to land jobs – even if the company they are joining sells a different product of service than the one they left.

The cases below, the people who won new jobs in recent months are joining a company deepening investment in marketing and sales effort in this niche.

Jim Alfred/Asset Dedication

Jim Alfred joined Asset Dedication, LLC of Mill Valley, Calif., this month to work on client relationship management, operations support and customer success. Most recently, he was vice president at Black Diamond Performance Reporting, where he led the expansion of the company’s Western Region in sales, marketing and relationship management to independent financial advisors, wealth managers and all major custodian relationships.

Previously, Alfred held senior-level roles at Advent Software, where he co-founded client loyalty and satisfaction programs. He entered the financial services industry as a financial advisor with Merrill Lynch Wealth Management and Citigroup Global Markets.

“Asset Dedication takes a unique approach to serving the retirement advice market today, with an innovative investment strategy and turnkey solution for advisors,” Mr. Alfred said. “I look forward to working with our clients in linking financial planning with portfolio construction, throughout the life of an investor’s portfolio.”

“Jim’s appointment reflects our commitment to making ongoing investments in Asset Dedication’s service and support capabilities,” said Stephen J. Huxley, chief investment strategist and founding partner of Asset Dedication, LLC.

Dennis Clark/California Investment Trust

Dennis Clark left his position as president of Advisor Partners to take a newly created role as at a San Francisco-based money management firm called California Investment Trust. As managing director, he will focus on business development.

California Investment Trust is a registered investment advisor that provides services to RIA and 401(k) plans and other constituencies and manages about $780 million. Clark was an executive who helped build Schwab Advisor Services in the 10 years prior to helping found Advisor Partners.

Clark says his hire is part of a general thawing. “It’s been in the ice age for three years; smart companies are making an investment in people.”

Dennis Clark: It’s been in the
ice age for three years.

BondDesk hires

BondDesk is also making a big hire related to business development by bringing aboard Laura Lynn Morrissey who joins as head of relationship management.

Previously, Lynn worked 15 years with National Financial Services. Most recently she was senior vice president regional manager for relationship management teams located in San Francisco and Boston. In this role, she built and led a nationwide relationship management and client service organization focused on growing and servicing startup and emerging broker-dealers and advisors as well as large, complex client relationships.

“These additions to our senior management team will allow us to take a fresh look at how we are doing business, implement new and better ways to enhance our clients’ overall experience, and help them meet the challenges they face in the marketplace,” says. BondDesk CEO Peter Crosbie. “With the expected deployment of our market-leading Advisor Workstation to an additional 20,000 desktops in 2011, leveraging the experience of these individuals from their tenure at large, world-class financial services firms sets the stage for continued quality improvements and growth.”

BondDesk also hired Tal Elyashiv as head of technology and professional services. He has worked with a variety of Fortune 50 financial firms, including Bank of America and Capital One Financial Corp. Most recently he was the Head of Technology and New Business Lines at 888, one of the world’s premier online gaming companies. Tal will oversee all technology and professional services related activities at BondDesk.

BondDesk also put Greg Stockett, currently its chief financial officer, into the role of chief operations officer.

Mariner Holdings adds a CFO

RIA firms are also hiring and that includes Mariner Holdings, which encompasses both Mariner Wealth Advisors and Montage Asset Management hired Timothy M. Connealy as chief financial officer and chief operating officer. Connealy joins the company at a time when the Kansas-based firm is expanding its geographic presence nationally, as a result of the acquisition of the CBIZ Wealth Management group by Mariner Wealth Advisors. See: Big Midwestern RIA buys itself a national presence in deal with CBIZ

“We are extremely fortunate to bring Tim aboard our leadership team,” says Mariner CEO Martin C. Bicknell in a release. “To me, his appointment represents an important step for our company, as we continue building an infrastructure that will sustain Mariner’s growth – while giving our teams the support they need to focus on what they do best for our clients.”

Connealy, 53, most recently served as executive vice president – chief operating officer at Dickinson Financial Corporation/Bank Midwest, where he was responsible for the operational, administrative and risk management activities for the multi-bank holding company. He has more than 30 years of experience in banking and accounting.