Today, President Joseph R. Biden, Jr. has extended further aid to Hawaii in response to the wildfires and strong winds that occurred between August 8 and September 30, 2023. This entails elevating the level of Federal funding for emergency protective measures undertaken in the state.
As per the President’s directive, Federal funds for emergency protective measures, which encompass direct Federal assistance, have been amplified to cover 100 percent of the total eligible costs for an additional 90-day period. This extension prolongs the coverage period to a total of 180 days from the outset of the incident period.
The Retirement Planning Group bids farewell to Lee Financial Group Hawaii with aloha.
The Retirement Planning Group has revealed its acquisition of Lee Financial Group Hawaii. Unveiled on Tuesday, the deal brings an additional $225 million in assets under management to TRPG.
Lee Financial Group, established and led by Terry Lee, specializes in investment management and financial planning services for clients in Hawaii and beyond.
“We are delighted to welcome Terry, his skilled team, and their clients to TRPG,” stated Kevin Conard, CEO of TRPG. “The dedication of the Lee Financial team to prioritizing clients aligns with our fundamental values, and we anticipate numerous shared achievements in the future.”
Six employees from Lee Financial Group will join TRPG, which manages over $2 billion in assets for more than 2,000 clients.
Lee, who will continue as a consultant for TRPG, views the integration of his firm as strategically fitting.
“As we contemplated the future of our business, team, and clients, we understood that finding the appropriate long-term partner would require time as we were very selective in our search and evaluation process,” he expressed. “It became evident that this decision made sense on multiple levels for everyone associated with Lee Financial,” he added.
TRPG’s RIA integration strategy gained momentum in February with its complete acquisition of the assets of the Dightman Capital Group. This strategy is part of Cetera’s broader initiative to expand its presence in the RIA market, which evolved following Mike Durbin’s appointment as the firm’s CEO.
In March, Cetera further expanded its reach in Hawaii by forming a strategic partnership with Hawaii State Federal Credit Union, the largest credit union in Hawaii, whose investment services program managed almost $400 million.
