Don Heberle, the CEO of BNY Mellon Wealth Management, is leaving the firm at the end of March, according to the Pittsburgh Business Times. The decision was a mutual one after a discussion with the bank's leadership, a spokesperson said Tuesday. The business unit Heberle oversaw has more than $197 billion in client assets and about 2,000 employees in the U.S. and abroad. Before he was appointed CEO in 2015, Heberle was previously the executive director of BNY Mellon Wealth Management and responsible for wealth strategy and the unit’s international business. He has been with BNY Mellon since 1997.
St. Louis-based advisory firm Plancorp has named Chris Kerckhoff as its next CEO. Kerckhoff started with Plancorp in 1997 as a financial advisor when the firm managed $198 million in assets. He became Plancorp president in 2010, and the firm now has four offices and $4 billion in client assets. In 2017, he joined the board of Prumenton Group, Plancorp’s partner company. “Chris joined us as one of the first five Plancorp employees,” Plancorp Founder Jeff Buckner said. “From day one, he’s demonstrated the kind of visionary thinking and leadership that reflects a genuine passion for his work. He has helped guide the firm through exciting changes, while ensuring that we maintain our unique, people-first culture – and I'm delighted to announce that, as of today, he officially assumes the role of CEO.” Among Kerckhoff's accomplishments are the firm’s partnership with BrightPlan, a direct-to-consumer, goals-based financial planning platform, and the establishment of the firm’s philanthropy committee and Women's Initiative.
Kestra Financial has recruited a mother/son team from Albuquerque, N.M., in the wake of LPL Financial's acquisition of the National Planning Holdings broker/dealer network. Pamela and Chris Davis of the Davis Advisory Group, which manages $110 million in client assets, moved their book of business over from SII Investments, one of the NPH broker/dealers. LPL said recently it had concluded the NPH acquisition. Kestra recently picked up Carlson Asset Management from WFG Investments and MidAtlantic Retirement Planning Specialists from Cadaret, Grant & Co.