Sowell Management, a North Little Rock, Ark.-based registered investment advisor with $6.8 billion in client assets, announced that it had promoted Scott Dooley to chief investment officer to lead a new CIO office for its advisors.
Sowell Office of the CIO will combine institutional investment leadership, research, portfolio construction, advisor consulting and a network of investment partners, according to the announcement.
Dooley has about two decades of work in asset management, including most recently as chief executive officer and CIO of a firm he founded, Fusion Investment Group. He joined Sowell in April 2025 as managing director of investment management.
“Independent advisors don’t necessarily need another investment provider,” Dooley said in a statement. “They need an investment office they can draw on as part of their own business—one that brings perspective, research and independent judgment to the decisions they make for clients.”
Daryl Seaton, CEO of Sowell Management, said in a statement that independent advisors increasingly compete against wirehouses, large RIAs and private banks with deep investment benches.
“Advisors shouldn’t have to choose between independence and institutional investment resources,” Seaton said, adding that the Office of the CIO gives advisors greater capacity to win and retain clients with complex needs.
Before founding his own firm, Dooley had held senior investment positions at Blue Vase Holdings, Rayliant Global Advisors and Columbus Macro.
RBC Adds UBS Veteran Shawn Bernhard as Texas Complex Director
RBC Wealth Management’s U.S. division announced that it hired former longtime UBS executive Shawn Bernhard as its newest complex director for the Texas South region.
Bernhard brings more than 25 years of experience in financial services, most recently from Raymond James, where she worked for over a year leading the Tucson office, according to her LinkedIn profile. Prior to that job, she held several leadership roles at UBS Wealth Management for over 16 years, most recently overseeing major markets in Arizona.
RBC makes the move as it seeks to expand its wealth footprint in Texas. In July, it brought over a Dallas-based team from Stifel Nicolaus & Co. that had been overseeing $1.6 billion in client assets.
“Shawn brings a track record of building high-performing teams and driving growth, all while developing talent and fostering a collaborative culture,” Scott Skinner, RBC Wealth Management’s Mountain South divisional director, said in a statement. “She understands that when you empower advisors with the right resources and support, everyone thrives—advisors and clients alike.”
Bernhard also served as chair of the Women’s Wealth Advisors of Arizona, has been involved with the Women’s Alliance of Financial Advisors, and supported the American Heart Association’s Go Red for Women initiative.
RBC Wealth Management now has 195 offices across 43 states with a focus on high-net-worth clients.
American Beacon Appoints Matthew Tripp to ARK Invest Client Portfolio Role
American Beacon Partners, an Irving, Texas-based provider of investment advisory services, announced last week that it had hired Matthew Tripp from Envestnet as senior client portfolio manager for its sub-advisor, ARK Invest.
According to the firm, Tripp will work with American Beacon and ARK Invest teams to support client relationships and expand the reach of ARK’s investment strategies across the U.S. wealth management space. He reports to Jay Schilling, head of wealth and institutional sales.
Most recently, Tripp served as director and investment product consultant at Envestnet for over five years, where he worked with private wealth clients and advisors across direct indexing, tax management, alternatives and manager research. According to the announcement, he helped to drive 19% year-over-year growth in direct indexing, model portfolios and private wealth solutions.
“Matt brings a level of industry knowledge that can make a real difference as we continue building our distribution platform and solutions,” American Beacon President and CEO Greg Stumm said in a statement. “He understands how advisors evaluate investment strategies and how to build relationships.”
Before Envestnet, Tripp was senior director of sub-advisory at Aegon Asset Management and spent more than five years at Touchstone Investments.
Tripp’s appointment comes as American Beacon expands its distribution model, having added Regional Advisor Consultants across the West, Northeast, South Atlantic, South Central and North Central regions over the past two years. The firm is also developing internal sales talent, with regional advisor consultants and wholesalers moving into expanded regional and leadership roles this year.
American Beacon Partners’ affiliates have about $91.7 billion in assets under management and $108.1 billion in assets under management and distribution, according to the company.
Meeder Investment Hires Mustafa Baig from WTW to be Product Development Lead
Meeder Investment Management, a Dublin, Ohio-based asset manager with more than $190 billion in assets under advisement, announced it hired Mustafa Baig from advisory firm WTW as senior vice president of product development.
In the newly established role, Baig will lead product strategy and lifecycle management across Meeder’s investment offerings, including mutual funds, separately managed accounts, model portfolios and future product structures.
“Mustafa’s appointment represents an important investment in product strategy and growth at Meeder,” President and Head of Distribution Robert Behan said in a statement. “As we continue to expand our capabilities and deepen our relationships with advisors and strategic partners, having dedicated leadership connecting market needs, investment expertise and distribution is increasingly important.”
Baig brings more than two decades of investment industry experience in product strategy, development, structuring, implementation and distribution, including traditional and alternative investments across institutional and wealth management markets.
Prior to joining Meeder, he was senior director and North America product lead at WTW, where he helped develop the firm’s North American OCIO product. He previously held product leadership and specialist roles at 50 South Capital Advisors and Calamos Investments.
Baig’s appointment establishes centralized leadership for product management at Meeder, with responsibilities including evaluating market and competitive trends, assessing new product opportunities and coordinating product initiatives from concept through implementation, according to the firm.
