Sowell shares rise 11.63% intraday after appointing first Chief Development Officer to drive advisor recruitment and growth.

Sowell surged 11.63% intraday following the announcement that it appointed Vincent Gimarelli as its first Chief Development Officer. Gimarelli, a veteran executive with over three decades of experience in the RIA sector, will lead advisor recruitment, business development, and M&A strategy, aligning with the firm’s growth objectives. His prior roles at AssetMark and expertise in scaling advisor networks position Sowell to accelerate organic expansion and strategic partnerships. CEO Daryl Seaton emphasized Gimarelli’s role in advancing the firm’s “advisor-first philosophy” and enhancing platform value, signaling confidence in long-term scalability. The move reinforces Sowell’s competitive stance in the RIA market, directly addressing growth drivers that likely spurred the sharp intraday rally.