The new year got off to a strong start in January, continuing last quarter’s momentum, especially when it came to RIA M&A deals, while private equity investment activity in the space picked up and independent advisors continued to move at a brisk pace.
On the M&A front, Dakota tracked a record 43 deal announcements representing approximately $338.3B in client assets, eclipsing October’s then-record 37 deal announcements involving $255B in managed assets. The month’s tally could be a little misleading though, as Mariner’s acquisition of Cardinal Point accounted for $292B – or 86% – of the total. It was a busy month for Mariner, which also acquired three other firms – Cassady Schiller Wealth, Jenkins Wealth, and Triton Financial Group – that added a further $1.1B to its AUA.
Outside of Mariner, Corient Private Wealth would have had the largest deal of January with its acquisition of $10.4B New York-based multifamily office Geller MFO, following closely on its December acquisition of $7.9B RIA H.M. Payson, which was the largest M&A deal that month. Among the other more notable deals in the month, Midwest RIAs Vision Financial Group, Business & Financial Strategies, and Clevenger Financial merged to form Financial Integrators, pooling together $2B in client assets, while private equity-backed Homrich Berg finalized its acquisition of $6B WMS Partners, which was announced in December (and not included in this month’s deal announcement totals).
RIA investments also ticked higher in January, with Dakota tracking seven deal announcements:
- Z2, Hamilton Lane, and Everside Capital investing in Long Island RIA Coastline Wealth
- Constellation Wealth buying a stake in $3B NoVa RIA Bogart Wealth
- Elevation Point staking $750M Michigan RIA Stonebrook Private
- FJM acquiring a 20% stake in $4.7B Atlanta UHNW RIA Balentine
- OneDigital staking $5B Canadian wealth manager PWL Capital
- Wealth Partners and Aspire Holdings investing in $2B NY RIA Wealth Alliance
- Summit Financial and Merchant Investment Management partnering on an investment in $700M Missouri RIA Genex Consulting
That heightened pace could be set to continue, as Los Angeles-based RIAs Lido Advisors and Evoke Advisors, as well as Commonwealth Financial Network and Audax Group, are all reportedly in the market shopping minority equity stakes to further their growth. Consulting powerhouse McKinsey & Co. is also reportedly considering a spin off or sale of its $23B in-house RIA MIO Partners.
In terms of independent advisor moves, LPL led the way in volume, recruiting seven teams managing a combined $4.1B in client assets, most notably $1.3B New Jersey-based Bruen Wealth Management from UBS and $1B RIA Salient Wealth of California from Osaic. Meanwhile, Dynasty Financial made some of the more notable moves in the month, landing $6.4B SageSpring Wealth Partners from Raymond James and a $1.6B team in Washington, DC, from Goldman Sachs.
Other noteworthy developments in January included the launch of new RIAs Wolf Pine Capital in Portsmouth, NH, Bridge Generations Wealth Management in Miami and Salt Lake City, and K2 Wealth Management in Chicago. Pegula family-backed Bison Holdings combined its wealth management and advisory divisions to establish Bison Wealth, Orange County Bancorp launched Orange Wealth Management, and the Pepin family of Tampa launched the Pepin Family Office.
Read on for a full roundup of the month’s RIA Deals, Advisor Moves, and Other News covered by Dakota:
RIA Deals (Acquisitions, Mergers, Minority Stakes)
Treehouse Wealth Acquires $284M San Fran RIA Humphreys Group
Walnut Creek, CA-based Treehouse Wealth acquired women-owned $284M RIA Humphreys Group from San Francisco. To view the full story click here.
Report: Three Midwest RIAs Merge to Form $2B Financial Integrators
Vision Financial Group and Business & Financial Strategies of Iowa and Clevenger Financial of Joplin, MO formed Financial Integrators, managing a combined $2B in client assets. To view the full story click here.
Invst Acquires $297M Connecticut RIA NS Capital
Invst acquired NS Capital, a Stamford, CT-based RIA managing $297M in assets, and launched the Invst Unity Pooled Employer Plan (PEP). To view the full story click here.
Wealth Enhancement Buys Investment Advisory Team Scribner
Wealth Enhancement acquired the Boston-based hybrid RIA Scribner Team with $111M in client assets and increased the firm's total assets to nearly $103B. To view the full story, click here.
EP Wealth Enters Michigan with Purchase of $1.6B Executive Wealth
EP Wealth Advisors acquired Executive Wealth Management, a Michigan-based firm, expanded its client assets by $1.6M and opened its first office in the state. To view the full story click here.
Creative Planning Acquires $1.3B Wisconsin RIA Kowal
Creative Planning acquired Brookfield, WI-based Kowal Investment Group, a 20-person team managing over $1.3B in client assets. To view the full story click here.
Mercer Global Bags $265M with Oregon, Georgia Additions
Mercer Global Advisors added a combined $265M in client assets to its total $70B AUM with the addition of two advisors in Oregon and the acquisition of a Georgia-based RIA. to view the full story click here.
Merit Expands in PA with Purchase of $739M Zimmermann
Merit Financial Advisors added its fourth location in Pennsylvania by acquiring Zimmermann Investment Management & Planning of New Cumberland with $739M in client assets. To view the full story click here.
Idaho Trust to Acquire Bank of Idaho's $248M AUM Trust and Wealth Division
Idaho Trust entered an agreement where it will acquire the Bank of Idaho’s trust and wealth management division servicing approximately $284M in client assets. To view the full story click here.
Z2, Hamilton Lane, Everside Capital Stake Long Island’s Coastline Wealth
Z2 Investment Management led an investment of first lien debt and preferred equity, alongside Everside Capital Partners, Coastline Wealth Management. To view the full story click here.
Carson Group Acquires $1B Partner Firm Carson Wealth Cedar Rapids
Carson Group completed the acquisition of Carson Wealth Cedar Rapids, encompassing its Las Vegas office, with the newly established location now overseeing $1B in client assets. To view the full story click here.
Cerity Partners Acquires $4.1B Boston RIA Prio Wealth
Cerity Partners acquired Boston-based RIA Prio Wealth, expanding its AUM by $4.1B. To view the full story click here.
Coldstream Purchases $500M AUA Seattle Advisory, Accounting Firms
Coldstream acquired Seattle-based Harrison Berkman Claypool & Guard (HBCG) and its related RIA HBC Financial Services, adding a combined $500M in AUA. To view the full story click here.
Mariner Off to Races in ‘25 with Purchase of $292B AUA Cardinal
Mariner Wealth Advisors acquired Cardinal Investment Advisors in a significant deal that adds $292B to the firm’s assets under advisement. To view the full story click here.
GCG Advisory Partners Buys $170M Atlanta RIA First Fidelity Financial Group
Charlotte, NC-based GCG Advisory Partners acquired First Fidelity Financial Group, an RIA from Atlanta with more than $170M in client assets. To view the full story click here.
CAPTRUST Acquires $300M Wealth Covenant Group of Houston
CAPTRUST Financial Advisors strengthened its presence in Houston through the acquisition of Wealth Covenant Group, bringing an additional $300M in client assets. To view the full story click here.
Wealth Enhancement Acquires Ohio's $82M Danison & Associates
Wealth Enhancement acquired Danison & Associates from Columbus, OH, adding $82M in client assets, marking the firm’s 20th acquisition of 2024. To view the full story click here.
Report: $650M RIA SignalPoint Joins Farther Finance
Tech-focused RIA Farther acquired Springfield, MO-based RIA SignalPoint Asset Management, adding $650M to its AUM, in its largest deal to date. To view the full story click here.
Pointwealth Capital Adds $200M Financial Advisor in Sherman Oaks (CA) Advisor
Pointwealth Capital Management, operating under the Golden State Wealth Management brand, acquired veteran Sherman Oaks, CA-based financial advisor Glenn Hruska and his $200M book of business, increasing the firm’s total AUM to over $450M. To view the full story click here.
Wealth Enhancement Expands Oregon Presence with $673M RIA Acquisition
Wealth Enhancement acquired Lake Oswego, OR-based RIA Northwest Investment Counselors, adding $673M in client assets, marking the firm’s 21st acquisition of 2024. To view the full story click here.
Waverly Purchase $373M Iowa RIA Dickinson
Waverly Advisors acquired Dickinson Investment Advisors of Council Bluffs, IA, which manages $373M in client assets, marking the Birmingham, AL-based RIA’s entry into the Iowa market. To view the full story click here.
Elevation Point Stakes $750M Michigan RIA Stonebrook Private
RIA investor Elevation Point made a strategic investment in Northville, MI-based Stonebrook Private, a fee-only RIA that manages $750M in client assets. To view the full story click here.
Creative Planning Buys $460M RIA Krivoshein | McDaniels
Creative Planning acquired Krivoshein | McDaniels Financial, a six-person team managing $460M in client assets, in a deal that was closed on October 31, 2024. To view the full story click here.
World Investments Acquires $190M Metro NYC RIA
World Investments acquired Freeman & Vannauker, a Freehold, NJ-based RIA and now-former Osaic network member with $190M AUM. To view the full story click here.
Mariner Continues Nationwide Growth With $1.1B Triple Acquisition
Mariner completed the acquisition of Cassady Schiller Wealth, Jenkins Wealth, and Triton Financial Group with a collective $1.1B AUA, pushing it closer to its goal of having 5,000 advisors by 2027. To view the full story click here.
Integrated Partners Expands West Coast Presence With $1B RetirementDNA
San Diego-based wealth management firm RetirementDNA has joined the Integrated Partners network, adding $1B in AUM and expanding both firms’ capabilities in the private wealth space. To view the full story click here.
Gibraltar Acquires $362M RIA Miller Equity, Expands South Central Presence
Gibraltar Capital Management acquired Dallas-based Miller Equity Capital Advisors (MECA), with $362M in regulatory AUM, boosting the firm’s client assets to over $1B. To view the full story click here.
FJM Acquires 20% Stake in $4.7B UHNW Atlanta RIA Balentine
FJ Management (FJM) acquired a 20% stake in Atlanta-based Balentine, an employee-owned firm serving ultra-high-net-worth clients with $4.7B in client assets. To view the full story click here.
Wealth Enhancement Purchases $409M Maine Advisor VanceGray
Wealth Enhancement acquired VanceGray Wealth Management, a Maine-based RIA managing $409M in client assets, marking the firm’s entry into the state. To view the full story click here.
Homrich Berg Closes on $6.4B WMS Partners Acquisition
HB Wealth Management closed its acquisition of Towson, MD-based RIA WMS Partners, adding $6.4B in the firm’s assets under management. To view the full story click here.
Corient Acquires $10.4B NYC Multifamily Office Geller & Co.
Corient Private Wealth acquired the Geller MFO, adding $10.4B in client assets, deepening the firm’s family office capabilities. To view the full story click here.
Hancock Whitney Bank to Buy $3B Florida Advisory Sabal Trust
Hancock Whitney Bank agreed to acquire Sabal Trust, a St. Petersburg, FL-based wealth manager with $3B in client assets. To view the full story click here.
BridgePort Discloses Two Q4 RIA Pickups, Adding $400M in AUA
BridgePort Financial Solutions, a Cambridge Investment Research RIA, acquired PearTree Advisory Group and Premier Wealth Advisors in the fourth quarter of 2024, adding a combined $400M AUA. To view the full story click here.
Constellation Buys Minority Stake in $3B RIA Bogart Wealth
McLean, VA-based independent fee-only wealth management firm Bogart Wealth with $3B in assets sold a minority equity stake to serial RIA investor Constellation Wealth Capital. To view the full story click here.
Focus Financial Acquires $4.16B Seattle RIA Merriman Wealth
Focus Financial acquired Seattle-based Merriman Wealth Management, adding $4.16B in assets, further bolstering its presence in the Pacific Northwest. To view the full story click here.
Carson Group Takes Over $1B Chicago Wealth Office
Carson Group took full ownership of $1B affiliate Carson Wealth Chicago, following its acquisition of Carson Wealth Cedar Rapids and its Las Vegas office. To view the full story click here.
OneDigital Stakes $5B Canadian Wealth Manager PWL
OneDigital invested in Montreal-based PWL Capital, a wealth management firm and multifamily office with $5B in assets under management, marking the firm’s foray into international markets. To view the full story click here.
Arax Grows Mountain West Footprint with $1B RIA Cedrus Financial
Arax Investment Partners, an RIA backed by RedBird Capital Partners, acquired Cedrus Financial, a multifamily office operating out of Colorado and Idaho that manages $1B in client assets. To view the full story click here.
Mission Wealth Buys $400M Houston RIA Logic Capital
Mission Wealth acquired Houston-based RIA Logic Capital Management with $400M in client assets in its largest integration to date. To view the full story click here.
Wealth Partners, Aspire Holdings Stake $2B RIA Wealth Alliance
Wealth Partners Capital Group and HGGC’s Aspire Holdings have made a minority equity investment in the $2B Melville, NY-based The Wealth Alliance. To view the full story click here.
Cetera's Avantax Acquires $180M AUA Affiliate Sweeney Kovar
Avantax, a member of the Cetera Holdings network, acquired Sweeney and Kovar, with $180M in assets under advisement. To view the full story click here.
Sequoia Financial to Acquire $3.8B Carlson Capital
Sequoia Financial Group agreed to acquire $3.8B Carlson Capital Management in a deal expected to close on March 31. To view the full story click here.
Pitcairn Boosts Alts Advisory with Brightside Partners Pickup
Multi-family office Pitcairn acquired Brightside Partners to boost its alternative investments platform and increased total AUA more than $9B. To view the full story click here.
AlphaCore Acquires $420M SoCal RIA enTrust Wealth
AlphaCore Wealth Advisory acquired $420M San Diego-based RIA enTrust Wealth Advisors. To view the full story click here.
Legacy Planning Joins HUB Int’l, Retains Commonwealth Affiliation
HUB International acquired Legacy Planning Partners, through its HUB Retirement and Private Wealth platform, strengthening its presence in the Pennsylvania market. To view the full story click here.
Summit, Merchant IM Buy Stake in $700M Wealth Manager Genex
Summit Financial and partner Merchant Investment Management are making an investment in $700M Kirkwood, MO-based RIA Genex Consulting, marking Summit’s first minority investment of 2025. To view the full story click here.
Financial Advisor Moves (Advisor/Advisor Team Recruitments)
RayJay Adds $400M Financial Advisory in Alabama
Raymond James added Chris Helton, a former Synovus Securities advisor based in Huntsville, AL, with approximately $400M in client assets to its independent advisor channel. To view the full story click here.
New RIA Indivisible Makes First Recruitment with $640M NY Team
Indivisible Partners, a newly-launched firm from Florida, recruited a New York-based team from Merrill Lynch managing $640M in client assets. To view the full story click here.
Ameriprise Nabs $140M Nebraska Advisor from LPL
Former LPL advisor Ben Fogarty who was based in Omaha, NE, managing $140M in client assets, joined Ameriprise Financial's branch channel. To view the full story click here.
UBS Boosts Florida-based Private Wealth Advisory Team
UBS Private Wealth Management appointed Michael Rubenstein as Vice President for Wealth Management on its Naples, FL-based team, The Matina Group. To view the full story click here.
Kestra Private Wealth Services Welcomes Campus Private Wealth
Arlington, VA-based RIA Campus Private Wealth, with $400M in assets under management, joined Kestra Private Wealth Services. To view the full story click here.
TAG Recruits South Florida Advisor from BNY
Florida-based wealth management veteran Gonzalo Acevedo has joined TAG Associates as managing director. To view the full story click here.
Prime Capital Financial Boosts Crossvault Capital Management
Prime Capital Financial said that John Cervantes has joined its San Antonio-based Crossvault Capital Management team as a new partner and senior investment advisor. To view the full story click here.
RayJay Lands $525M Florida Advisor from UBS
Florida-based advisor Mary Lauritano became a part of Raymond James’ employee advisory channel, from UBS where she managed $525M in client assets. To view the full story click here.
Procyon Partners Hires Senior Private Wealth Advisor from UBS
Dynasty’s Procyon Partners appointed Mark Sullivan as senior vice president and senior private wealth advisor. To view the full story click here.
Sanctuary Secures $700M Miami Team from Truist
Miami advisory Hillguard Wealth Management joined as a partner firm at Sanctuary Wealth, from Truist Wealth where they managed $700M in client assets. To view the full story click here.
LPL Recruits $320M Oregon Team from Osaic
Father-son team Lewellyn Financial Management from Oregon joined LPL’s broker-dealer, RIA, and custodial platforms from Osaic where they reportedly managed $320M in assets. To view the full story click here.
NJ's Freedom Capital Adds Veteran Advisor from Edward Jones
Osaic-affiliated Freedom Capital Management of New Jersey recruited advisor Curtis Mullins from Edward Jones as senior vice president of wealth management. To view the full story click here.
Report: Concurrent Adds Two New Advisor Teams, $364M in Assets
Concurrent Investment Advisors of Tampa, FL, recruited Englestad Wealth Advisors and Ciliberti & Associates, with a combined $364M AUM. To view the full story click here.
RayJay Recruits $440M Tulsa (OK) Team From Morgan Stanley
The father-son team of John “David” Veitch and Drew Veitch joined Raymond James’ employee advisor channel from Morgan Stanley where they managed $440M in client assets. To view the full story click here.
$255M Metro Boston, KC Teams Move from Osaic to Cetera
Cetera Financial recruited advisor teams operating out of Brookline, MA, and Independence, MO, from Osaic, where they managed a combined $255M in client assets. To view the full story click here.
Wedbush Recruits Metro LA Wealth Manager from Merrill
Wedbush Securities appointed former Merrill Lynch advisor Alex Froloff as a new financial consultant for wealth management with its Pasadena, CA, team. To view the full story click here.
Centurion Wealth Recruits UHNW NoVa Advisor from Cerity
Centurion Wealth Management recruited former Cerity Partners advisor Jake Gurock, aiding the firm’s efforts to serve ultra-high-net-worth clients. To view the full story click here.
LPL Recruits $343M SoCal Advisor from Merrill
LPL Financial recruited Marcus S. Alexander, most recently with Merrill Lynch where he managed $343M in client assets, to Linsco, the firm’s employee advisor channel. To view the full story click here.
RayJay Recruits $500M Bay Area Team from Schwab
Kristin Sullivan, former advisor at Charles Schwab managing $500M in client assets, has joined Raymond James’ independent advisor channel, creating Summit Financial Group. To view the full story click here.
Canaccord Genuity Adds $150M Advisor from CIBC Wood Gundy
Former CIBC Wood Gundy veteran advisor Brian Lonsdale joined Cannacord Genuity Wealth Management based in Ottawa, ON. To view the full story click here.
LPL Recruits $430M NJ Team from RayJay
Morristown, NJ-based advisors Larry Forlenza and Carl Hanks joined LPL’s broker-dealer, RIA, and custodial platforms with $430M in assets from Raymond James’ independent advisor channel. To view the full story click here.
Report: $1.2B Former First Republic NYC Team Drops JPM for RBC
RBC Wealth Management nabbed the Pensato Slayne Group, an advisory team with $1.2B in client assets, from JPMorgan. To view the full story click here.
Aegis Capital Recruits Boca Raton (FL) Advisor from Morgan Stanley
Aegis Capital recruited Manuel “Manny” Rose to the firm’s Boca Raton, FL, office as a managing director, moving from Morgan Stanley. To view the full story click here.
UBS Recruits Family Office Veteran Vysotina from Morgan Stanley
UBS hired veteran Morgan Stanley advisor Dr. Victoria Grace Vysotina as advisor and de facto CIO for its New York International Market. To view the full story click here.
Carson Group Recruits $411M Team from Osaic's Securities America
California-based advisors Kiho Choi and John Dunphy joined Carson Group as Twin Pines Wealth Management from Osaic’s Securities America where they managed $411M in assets under management. To view the full story click here.
Rockefeller Global Family Office Adds Advisor Teams in NYC, Houston
Heritage Wealth Management of Houston and Venetos Wealth Partners of New York joined Rockefeller Global Family Office, transitioning from Morgan Stanley. To view the full story click here.
Ashton Thomas Recruits $2.5B Wells Team, Opens San Fran Hub
Ashton Thomas Private Wealth established a new location in the San Francisco financial district with the addition of Mark Cavalier, Jonathan Smith, and Gregory Weiss with $2.5B to form the Pacific Private Wealth Group. To view the full story click here.
Citizens Recruits $700M South FL Team from RBC
Citizens Financial Group recruited a veteran Naples, FL-based advisor team with $700M in client assets at RBC Wealth Management to its Citizens Private Wealth unit, bolstering its footprints in the South Florida market. To view the full story click here.
LPL Recruits $385M Metro Atlanta Team from Kestra
LPL Financial recruited Alpharetta, GA-based advisor team Johns Creek Financial to its broker-dealer, RIA, and custodial platforms, jumping from Kestra Financial, with $385M in client assets, bolstering LPL’s presence in metro Atlanta. To view the full story click here.
Klingman & Associates Adds NYC Wealth Advisor From UBS
New York City-based wealth advisor Lizzie Decarlo joined Klingman & Associates from UBS Private Wealth Management. To view the full story click here.
Compound Planning Adds Four Advisors to Kick Off '25
Compound Planning recruited four new advisors – Matthew Faubion, Jakub Kubrak, Dimitry Farberov, and Michael Hunter – to its roster, positioning the firm for sustained growth in 2025. To view the full story click here.
LPL Scores $315M Metro Boston Advisor from UBS
Walpole, MA-based veteran advisor Christopher Ketchen joined LPL’s Linsco employee advisor channel from UBS, where he reportedly managed $315M assets under management. To view the full story click here.
$1.3B NJ Team Joins LPL's Paradigm Partners from UBS
LPL recruited the father-and-son team of William “Bill” Bruen, Jr. and Andrew Bruen to its broker-dealer network through Paradigm Partners, joining from UBS where they reportedly managed $1.3B in client assets.
$6.4B SageSpring Leaves RayJay for Dynasty Platform
$6.4B SageSpring Wealth Partners dropped its affiliation with Raymond James in favor of Dynasty Financial Partners’ independent advisor platform. To view the full story click here.
Report: Merrill Nabs NYC Metro Advisors from UBS, Morgan Stanley
Merrill Lynch recruited Franco Di Maio from UBS and Alexander Van de Leur from Morgan Stanley, with each advisor bringing approximately $130M in client assets. To view the full story click here.
Carson Group Lands $365M NorCal Team from Wells Fargo
Carson Group recruited $36M Roseville, CA-based team Wurm & Fyre Wealth Management from Wells Fargo. To view the full story click here.
NewEdge Adds Two UHNW Advisors from Edge Capital in Southeast
NewEdge Wealth added former Edge Capital Partners advisors William DeButts and Jimmy Patrick to manage its offices in Georgia and North Carolina. To view the full story click here.
LPL Nabs $1B LA Metro Team from Osaic
LPL Financial added former Osaic team Salient Wealth Planning, with approximately $1B in client assets, into its broker-dealer, RIA, and custodial platforms. To view the full story click here.
DC-based $1.6B Goldman Team Moves to Dynasty
$1.6B advisory team TritonPoint Wealth of Washington, D.C. joined Dynasty Financial from Goldman Sachs. To view the full story click here.
Navy Federal’s $6.1B AUA Advisory Arm Affiliates with Osaic
Navy Federal Credit Union’s wealth advisory arm, Navy Federal Investment Services, joined Osaic Institutional, bringing 69 advisors and a reported $6.1B in assets under advisement. To view the full story click here.
Fiduciary Trust Recruits Atlanta Wealth Director from BofA Private Bank
Fiduciary Trust International, a wholly owned subsidiary of Franklin Templeton, recruited Jason Thomas as a wealth director in Atlanta. To view the full story click here.
$287M AUA Arco Capital Joins Cetera’s Summit Network from RayJay
Arco Capital Partners joined Summit Financial Networks from Raymond James, where it reportedly administered $287M in client assets. To view the full story click here.
Blue Lake Wealth Joins Rockefeller Capital from Morgan Stanley
Blue Lake Wealth Partners, an RIA based in Oak Brook, IL, joined Rockefeller Global Family Office. To view the full story click here.
Other News
Wealth Consulting Group Names New Director of Retirement Plans
Las Vegas-based The Wealth Consulting Group announced that it has recruited Erika Ferris as director of retirement plans and financial planning. To view the full story click here.
Homrich Berg Appoints New Leader for Tax Planning, FO Services
Atlanta’s Homrich Berg appointed Tim Tallach as Director of Advanced Tax Planning and Family Office Services within its HB Family Office division. To view the full story click here.
KeyBank Scores New Family Wealth Head From JPM Wealth
Former JPMorgan Wealth Management regional leader Robert Weiss joined KeyBank as the head of Key Family Wealth. To view the full story click here.
Report: Citi Wealth Lands New Advisory Head From JPM
Citi Wealth recruited former JPMorgan managing director Marc Turansky as its new head of investment advisory, according to Citywire. To view the full story click here.
Wedbush Securities Hires Market Manager for Central-West Region
Former Bernstein exec Jon Underkofler becomes senior vice president and Central-West region market manager for Wedbush Securities. To view the full story click here.
Private Advisor Group Makes Growth-focused Hires
Private Advisor Group recruited Dave Carratt as director of advisor growth and David Bogdanov as business development consultant, supporting its financial advisor network. To view the full story click here.
Dynasty Recruits Advisor Transitions Director from RayJay
Lindsey Strawhecker joined Dynasty Financial as director of transitions, making the move from Raymond James. To view the full story click here.
TFG Financial Advisors Names New CEO
Thomas Quealy joined TFG Financial Advisors as its CEO and partner. To view the full story click here.
Focus Financial's SCS Names New National Head of Wealth Mgmt
Adrienne Penta joined SCS Financial, the dedicated family office and OCIO division of Focus Financial Partners as its national head of wealth management. To view the full story click here.
$5.1B Badgley Phelps Promotes Research Director Thomas to CIO
Badgley Phelps has appointed research director Tim Thomas as its new chief investment officer, succeeding Steve Phelps, who previously stepped down from his role as CEO in January 2024 but will stay on with the firm as a wealth manager and research analyst. To view the full story click here.
$28.6B RIA Savant Wealth Elevates Investment Strategist Ivey to CIO
Fee-only RIA Savant Wealth Management announced that it has promoted Zach Ivey, who joined the firm through its 2023 acquisition of Birmingham, AL-based Bridgeworth Wealth Management, to CIO. To view the full story click here.
Advent, Abu Dhabi Finalize $3B Stake in Fisher Investments
Fisher Investments closed off its $3B common stock minority investment from Advent International and the Abu Dhabi Investment Authority (ADIA), which values the firm at $12.75B. To view the full story click here.
Emigrant Partners Hires RayJay Alum to Lead RIA Deal Identification
Emigrant Partners recruited former Raymond James investment director Karl Ingram, effective January 6. To view the full story click here.
Bison Combines Wealth, Advisory Businesses
Bison Holdings merged Bison Wealth and Bison Advisors into one company operating under the Bison Wealth name, positioned the firm to continue the growth of its advisory and independent wealth capabilities. To view the full story click here.
Focus Rebrands Hubs Following Recent Consolidation
Focus Financial Partners rebranded and consolidated its five advisory hubs under the Focus Partners name after the recent acquisition of Canadian firm Cardinal Point. To view the full story click here.
Kestra Financial Promotes Wealth Mgmt Head Amore to President
Kestra Financial’s head of wealth management John V. Amore was promoted to president, taking the role from Stephen Langlois who will step down at the end of the year. To view the full story click here.
Pennington Lands Former First Republic PWM CIO as New President, CIO
Pennington Partners appointed former First Republic Wealth Management CIO Christopher Wolfe as its new president and CIO. To view the full story click here.
UBS Updates Southeast Region Leadership
UBS Wealth Management USA named Julie Fox as regional director and added four new market executives for the Southeast, aiming to streamline its field management from two national divisions to four regions. To view the full story click here.
HNW RIA Hollow Brook Recruits New Investments Director from Ladenburg
Multifamily office Hollow Brook Wealth Management named Michael T. Meechan as director of investments, jumping from Ladenburg Asset Management. To view the full story click here.
Former Kovitz Exec Launching Chicagoland HNW Advisory K2 Wealth
Ex-Kovitz Investment Partners advisor Matthew Heckler launched K2 Wealth Management, serving high-net-worth clients in Chicagoland. To view the full story click here.
Coldstream Promotes Arnerich Massena Research Chief to CIO
Former Arnerich Massena leader Bryan Shipley was named Coldstream’s chief investment officer, succeeding Howard Coleman who will become the managing director of fund management and chief legal counsel for the firm. To view the full story click here.
Report: Charlesbank-backed Lido Advisors Seeking New Investor
Charlesbank Capital Partners is selling a portion of its stake in Los Angeles-based wealth management firm Lido Advisors. To view the full story click here.
Tampa (FL) Beverage Distributor Heirs Launch Family Office, Name CEO
The Pepin Family Foundation launched the Pepin Family Office and appointed former Florida Senate President Tom Lee as CEO. To view the full story click here.
Report: $27.5B LA RIA Evoke Shopping Minority Stake
Los Angeles-based RIA Evoke Advisors, with $27.5B in regulatory assets under management, plans sale of a minority ownership stake. To view the full story click here.
Brown Brothers Names Chicago-based Senior Wealth Planner
Brown Brothers Harriman & Co. recruited Kristina White, former McDermott Will & Emery partner, as managing director for its Chicago office. To view the full story click here.
Janney President Miller Adds CEO Duties to Remit
Tony Miller, current president of Janney Montgomery Scott, will also take the role of CEO, succeeding Tim Scheve, who will join the firm's board of managers as an independent director. To view the full story click here.
Report: Forum Financial Defectors Launch Bridge Generations Wealth
Bridge Generations Wealth Management, an RIA founded by former Forum Financial advisors Barbara Ray and David Smith with $250M in assets, is now operating out of Miami and Salt Lake City. To view the full story click here.
Report: Commonwealth Financial Shopping Minority Stake
Commonwealth Financial Network is said to be seeking a minority investment in the company with Goldman Sachs as investment banker. To view the full story click here.
Hawthorn Wealth Management Names CIO
Hawthorn Wealth Management recruited former Fidelity Investments advisor Gavin Robinson as its new CIO. To view the full story click here.
Report: Audax Group Mulls Sale of CW Advisors Stake
CW Advisors is exploring a capital raise that could result in a new investor holding a majority stake in the company. To view the full story click here.
Orange County Bancorp Restructures to Boost Wealth Mgmt Business
Orange County Bancorp is consolidating its investment advisory, trust, and private banking businesses into a single unit called Orange Wealth Management. To view the full story click here.
Ex-Lake Street Advisor Launches Wolf Pine Capital
Peter Ankeny, formerly of Lake Street Advisors, launched Wolf Pine Capital, a fee-only wealth management firm headquartered in Portsmouth, NH. To view the full story click here.
New Mountain Launches Platform to Access RIAs
New Mountain Capital launched New Mountain Wealth Solutions, a new team and platform dedicated to supporting RIAs. To view the full story click here.
Report: McKinsey Mulls Sale of $23B In-house RIA MIO Partners
McKinsey & Co. is reportedly considering a spin-off of its internal asset management division, MIO Partners. To view the full story click here.
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