Miami wealth management firm Insigneo has hired Dynasty Financial Partners’s Javier Rivero in a shake-up of the management and fund selection teams of its broker-dealer business, Insigneo Securities.
Insigneo, led by chief executive Raul Henriquez, is the product of the merger between Hencorp Group, which includes broker-dealer Global Investor Services (GIS), and Northeast Securities that was completed in August 2017.
Rivero has been brought on to lead the client relations effort at Insigneo, a role where he will oversee the firm’s financial advisors, the firm said in a release. He will report to Insigneo Securities president Paul Duffy.
His move to Insigneo is the result of an ongoing partnership between Dynasty, which offers outsourced services to support independent advisor firms, and the $8 billion broker-dealer.
A former Merrill Lynch complex manager, Rivero joined Dynasty as a senior vice president for its international division to expand its non-resident client unit in August 2016.
At the same time, the firm signed a deal with Insigneo, then GIS, to give Dynasty's partner firms access to Insigneo’s broker-dealer.
The deal remains in place and a spokesperson from Dynasty told Citywire Americas that the firm wished Rivero all the best and that it will continue to work with him in his new role. They also said the group plans to fill his position shortly.
New service model
In his new role at Insigneo, Rivero will be assisted by three senior relationship officers: Guillermo Broukaert, Simon Amich, and Noemi Schaefer.
Broukaert, who will continue to act as Insigneo's Uruguay country manager, and Miami-based Amich will both take on the primary responsibility of handling the firm’s existing financial advisor community. Schaefer will take charge of its institutional relationships.
Turning to the solutions side, Insigneo has appointed Miguel Reyes as head of products and services, a role which will see him select funds and investments for the firm. Reyes will also keep his current role as Insigneo’s head of trading.
Mike Kenny, formerly head of trading for Northeast Securities, will assist him in the day-to-day management of the trading desk.
Meanwhile, Guillermo Acosta has been named the new head of operational excellence and client support and Carlos Sosa, operational excellence manager.
The firm said the new 'customer centric' operating model aims to enhance its clients' experience.
‘We are confident that with the successful implementation of this new organizational design, we will be better suited and focused on providing outstanding service, and deliver on the promise behind the Insigneo culture: shared commitment, clients come first, the constant pursuit of excellence, and integrity above all,’ said Raul Henriquez.
Insigneo offers wealth and asset management, as well as multi-family office and institutional services primarily to international clients. As of August 2017, it had a total of 120 advisors in Miami and in Latin American countries such as Uruguay, Argentina, Chile, Venezuela and Colombia.