October 2024 Financial Advisor Moves and RIA Acquisitions

The M&A floodgates opened in October, with Dakota tracking 37 outright acquisitions – by all accounts a record monthly haul – involving over $255B in client assets, along with a handful of minority-stake transactions by strategic investors. 

Leading the way in deal volume, Beacon Pointe, Cerity Partners, and Waverly Advisors each bagged three acquisitions, while LPL’s acquisition of $100B Atria Wealth Solutions was both the largest deal of the month but also the year, with it absorbing approximately 2,400 new advisors into its growing platform. Meanwhile, Pathstone scored the second-largest RIA deal of the month with its acquisition of ultra-high-net-worth (UHNW) advisory Hall Capital Partners, integrating approximately $45B in assets to its now $260B in combined AUA and AUM. 

On the investment side, one of the more interesting RIA deals in October involved Charles Schwab, BlackRock, and JP Morgan making minority investments in Dynasty Financial Partners to fuel its continued growth. Homrich Berg was busy as well, with TPG taking a stake in the Atlanta-based RIA to join existing investor New Mountain Capital to support future growth, which in October came in the form of snagging a $4B team from Truist to establish a new UHNW office in Tampa, FL.

Movement by independent advisors also remained strong in the month, led by LPL Financial with eight additions representing $4.9B in total incorporated assets, followed by seven recruitments by Raymond James representing $4.6B in assets. 

Finally, other noteworthy developments in the month included Hightower Advisors taking a controlling stake in investment consultant and OCIO solutions provider NEPC and alternative investments technology platform CAIS forming an RIA unit to assist financial advisors in alternatives portfolio construction. 

Read on for a full roundup of the month’s RIA Deals and Advisor Moves covered by Dakota:

RIA Deals 

TPG Takes Minority Stakes in Creative Planning, Homrich Berg (Oct. 1)

TPG made strategic minority investments in both Creative Planning, with over $375B in assets under management, and Homrich Berg, with over $18B in assets under management. To view the full story click here.

LPL Closes $100B AUM Atria Wealth Acquisition (Oct. 2)

LPL Financial officially completed its acquisition of Atria Wealth Solutions, integrating approximately 2,400 Atria advisors and bringing nearly $100B in AUM to its platform. To view the full story click here.

Mercer Global Acquires Two East Coast Groups, Adds ~$1B (Oct. 2)

Mercer Global Advisors added independent advisory firms, Kiely Wealth Advisory Group and Kades & Cheifetz LLC, totaling approximately $1B in AUM and expanding its East Coast network. To view the full story click here.

Beacon Pointe Reaches Nearly $37B With Two New Acquisitions (Oct. 2)

Beacon Pointe Advisors has expanded its footprint in Southern California and South Carolina with the $600M addition of Bridge Advisory and Charleston Investment Advisors, boosting its assets under management to nearly $37B. To view the full story click here.

MAI Capital Management Adds $238M Bolan Capital Management (Oct. 2)

Bolan Capital Management, a Cincinnati-based firm with $238M in managed assets, has been acquired by MAI Capital Management in its seventh acquisition for the year. To view the full story click here.

Waverly Advisors Acquires CenterPoint, Surpasses $13B AUM (Oct. 2)

Waverly Advisors increased its total managed assets to $13.2B as it added $288M CenterPoint Wealth Management in Zionsville, IN. To view the full story click here.

Cerity Partners Merges with Janiczek in $1.4B AUM Deal (Oct. 3)

Cerity Partners merged with Janiczek Wealth Management, a Denver-based firm specializing in ultra-high-net-worth clients, growing its assets under management to approximately $100B with Janiczek’s $1.4B. To view the full story click here.

WEG Acquires $2.39B Hybrid RIA FinTrust Capital Advisors (Oct. 3)

FinTrust Capital Advisors, a hybrid RIA managing over $2.39B in client assets across South Carolina and Georgia, joins Wealth Enhancement Group. To view the full story click here.

BW Forsyth Invests in $3.4B Matter Family Office to Fuel Growth (Oct. 4)

BW Forsyth Partners has taken a strategic investment in Matter Family Office, a St. Louis, MO-based firm with $3.4B in AUM. To view the full story click here.

Focus Financial to Merge Pittsburgh, Chicago Affiliates Fort Pitt, Kovitz (Oct. 4)

Focus Financial Partners announced a merger between its partner firms Fort Pitt Capital Group and Kovitz Investment Group Partners to be closed in Q4, combining approximately $5.9B of Fort Pitt’s AUM with Kovitz’s over $24B. To view the full story click here.

Prospera Adds $650M Tennessee Firm Wunderlich (Oct. 7)

Prospera Financial Services acquired the Wunderlich & Company team, a Memphis-based firm with $650M in managed assets, expanding its presence in Tennessee. To view the full story click here.

MAI Capital Management Acquires $1.2B Halpern Financial (Oct. 8)

MAI Capital Management completes its eighth acquisition of the year as it secures Halpern Financial, a Virginia-based RIA managing approximately $1.2B in assets under management. To view the full story click here.

Charles Schwab, BlackRock, JP Morgan Invest in Dynasty (Oct. 9)

Dynasty Financial Partners closed a minority private capital raise to fund its growth, with Charles Schwab, BlackRock, and JP Morgan among its investors. To view the full story click here.

Cetera to Acquire Protective Life Subsidiary in $12B AUA Deal (Oct. 9)

Cetera Financial Group agreed to acquire Concourse Financial Group Securities, an RIA and broker-dealer subsidiary of Protective Life Corporation, in a deal that will add approximately 350 financial professionals and over $12B in assets to Cetera’s network. To view the full story click here.

Cresset Acquires $6.2B Dallas-based UHNW Firm CH Investment Partners (Oct. 9)

CH Investment Partners, a Dallas-based UHNW multi-family office with $6.2B in assets under management, has been acquired by Cresset Asset Management. To view the full story click here.

Robertson Stephens Adds $240M Chicagoland RIA, Crosses $7B AUM (Oct. 10)

Robertson Stephens Wealth Management acquired North Barrington, IL-RIA CAFG Private Wealth, adding over $240M to its now $7B total AUM. To view the full story click here.

Cerity Partners Nabs $1B SBC Wealth of Indianapolis (Oct. 10)

After its Janiczek Wealth merger, Cerity Partners also merged with SBC Wealth Management, increasing its total assets under management by $1B and expanding its footprint in the Midwest. To view the full story click here.

Allworth Adds East Coast Office with $1.1B NJ Firm (Oct. 10)

Allworth Financial added George McKelvey Company, a New Jersey-based wealth manager servicing over $1.1B in client assets, to its East Coast network. To view the full story click here.

Pine Grove to acquire $110M Aurochs Financial (Oct. 11)

Woodbury, MN-based Pine Grove Financial Group is set to acquire fellow Minnesota advisor Aurochs Financial Group, which will add $110M in managed assets to Pine Grove’s now approximately $1.3B in total AUM. To view the full story click here.

Kestra, Stone Point Reunite in Recap as Warburg Pincus Exits (Oct. 16)

Stone Point Capital reunited with Kestra Holdings, replacing existing majority owner Warburg Pincus to which it previously sold its majority stake in Kestra in 2019. To view the full story click here.

Pathstone to Acquire $45B Hall Capital, Expanding UHNW Footprint (Oct. 16)

Pathstone is incorporating $45B in assets as it is set to acquire bi-coastal independent UHNW advisory Hall Capital Partners. To view the full story click here.

Carson Bolsters Midwest Presence with Acquisition of $1B AUA Sweet Financial (Oct. 16)

Carson Group acquired Fairmont, MN-based Sweet Financial Partners, servicing $1B in total AUA, in its second-largest ever deal. To view the full story click here.

Beacon Pointe Sets Up First Minnesota Office in $1B Acquisition (Oct. 16)

Beacon Pointe added Lake Elmo, MN-based Landmark Wealth Management Group in a $1B acquisition that establishes its first location in Minnesota. To view the full story click here.

AlphaCore Acquires $200M Denver HNW RIA All Season (Oct. 17)

AlphaCore Wealth Advisory added the four-person All Season Financial Advisors in Denver, contributing approximately $200M in assets under management. To view the full story click here.

Thurston Springer to Acquire FL-Based PEAK Reps (Oct. 17)

Jupiter, FL-based PEAK Reps LLC integrated into Thurston Springer with its subsidiaries, including $187M AUM unit Blackridge Asset Management, in a deal that will add approximately 120 financial advisors to Thurston’s advisory team. To view the full story click here.

Lido Advisors to Acquire $3B AUM Pegasus Partners (Oct. 21)

Los Angeles-based wealth advisory firm Lido Advisors agreed to acquire UHNW RIA Pegasus Partners, overseeing more than $3B in client assets. To view the full story click here.

Focus Affiliates Coastal Bridge, TrinityPoint Planning Merger (Oct. 21)

Focus Financial Partners affiliate RIAs Coastal Bridge and TrinityPoint are looking to merge their Connecticut-based offices, bringing the total AUM of the combination to approximately $4B. To view the full story click here.

Waverly Establishes Ohio Presence with $1B AUM 9258 Wealth Acquisition (Oct. 22)

Waverly Advisors added three new locations in Ohio with its acquisition of 9258 Wealth Management, an RIA with $1B in serviced assets, which brings Waverly’s total AUM to approximately $14.4B. To view the full story click here.

Solenture Adds $400M New Jersey RIA, Crosses $1B AUM (Oct. 22)

Solenture LCC acquired Somerville, NJ-based RIA Reedmark Advisors, adding $400M to its now over $1B total AUM. To view the full story click here.

Sixth Street Partners to Invest $500M in RIA Investor Merchant IM (Oct. 23)

San Francisco-based Sixth Street Partners reportedly invested $500M in Merchant Investment Management as part of a $750M capital raise by Merchant. To view the full story click here.

Greenwood Gearhart Merges with $215M Arkansas RIA (Oct. 23)

HNW wealth manager and investment firm Greenwood Gearhart reportedly merged with fellow Arkansas RIA Boston Mountain Money Management with $215M in managed client assets. To view the full story click here.

Modern Wealth Adds $1.4B Idaho RIA, Crosses $6B AUM (Oct. 24)

Modern Wealth Management acquired $1.4B-AUM Petso Financial Consultants in Boise, ID, bringing its total AUM to over $6B. To view the full story click here.

Lovell Minnick Makes Strategic Investment in Dynasty-backed Americana (Oct. 24)

Private equity firm Lovell Minnick Partners made a strategic investment in Dynasty Financial Partners-backed HNW/UHNW RIA Americana Partners, becoming Americana’s first outside institutional investor. To view the full story click here.

MAI Capital Acquires $528.8M PA-based Hyperion in Ninth Deal of 2024 (Oct. 28)

After its earlier acquisition of Halpern Financial, MAI Capital Management completed its ninth acquisition of 2024 with $528.8M-AUM Hyperion Partners in Berwyn, PA. To view the full story click here.

Mission Wealth Acquires $235M NorCal RIA JLFranklin Wealth Planning (Oct. 28)

Mission Wealth expanded its presence in the Bay Area in its merger with JLFranklin Wealth Planning from San Rafael, CA, adding $235M in assets to its over $9.2B in total AUM. To view the full story click here. 

Hightower Invests in $1.1B Wisconsin RIA (Oct. 29)

Hightower Advisors acquired Financial Planning and Information Services, a De Pere, WI-based RIA managing $1.1B in client assets, marking Hightower’s fifth strategic investment of the year. To view the full story click here. 

Neuberger Berman Takes Minority Stake in Mariner (Oct. 29)

Mariner Wealth Advisors received a significant minority growth investment from Neuberger Berman Capital Solutions, joining Leonard Green & Partners as the firm’s institutional capital partners. To view the full story click here. 

Cerity Partners Acquires $154.7M Paladini Financial (Oct. 29)

Cerity Partners acquired Paladini Financial, marking its third acquisition in Oct. and bringing its total AUM to over $2.15B. To view the full story click here. 

Waverly Acquires $155.7M Colorado RIA Mueller Financial (Oct. 30)

Waverly Advisors acquired Mueller Financial Solutions, adding $155.7M in assets, in the second Colorado acquisition by Waverly and its 18th overall since 2021. To view the full story click here. 

Lido Boosts Mountain West, HNW Presence with $600M Platte River Acquisition (Oct. 31)

Lido Advisors acquired HNW wealth manager Platte River Wealth Advisors, managing over $600M in regulatory assets, in Louisville, CO. To view the full story click here.

Evoke Advisors Acquires $192M Crescent Bay to Expand Family Office Services (Oct. 31)

Los Angeles-based RIA Evoke Advisors acquired Crescent Bay Advisors, a $192M multi-family office, to expand its family office services. To view the full story click here. 

PE-backed Sequoia Financial Acquires $300M Family Asset Management (Oct. 31)

Sequoia Financial Group acquired Family Asset Management, a $300M RIA in Charleston, SC, expanding its footprint in the Southeast US and bringing its total office count to 16 across 10 states. To view the full story click here. 

MONECO Advisors Expands in Westchester County (NY) With Two Acquisitions (Oct. 31)

MONECO Advisors, a Westchester County, NY-based RIA, expanded its wealth management practice by adding two teams from Independent Advisor Alliance, including Rightirement Wealth Partners and veteran advisor Al Hodys, adding approximately $120M to its total AUM. To view the full story click here. 

Advisor Moves

Raymond James Adds $250M FAs from Citigroup, Morgan Stanley (Oct. 1)

Raymond James recruited advisors Miguel Velázquez from Citigroup and Matt Bennett from Morgan Stanley, bringing approximately $250M in combined managed assets. To view the full story click here.

Hightower’s Altium Partners with Boston HNW Team (Oct. 2)

Advisors Kimberly Clouse and Kristen Caseley join Altium Wealth Management, an affiliate of Hightower Advisors, in a move that brings Altium’s AUM to over $6B. To view the full story click here.

Dynasty Recruits NYC MATAURO Team from Equitable (Oct. 3)

MATAURO, a New York City-based wealth management firm from Equitable with $700M in assets under management, has joined Dynasty Financial Partners' independent wealth management platform. To view the full story click here.

LPL Secures $2.1B Noble Group from Raymond James (Oct. 4)

LPL Financial acquired The Noble Group, a Texas-based wealth management firm from Raymond James servicing approximately $2.1B in client assets, to its advisory and brokerage platforms. To view the full story click here.

UBS Adds $400M FA in New Hampshire (Oct. 8)

UBS recruited Jared Breault, a senior advisor with over $400M in managed assets, from Merrill Lynch to its Manchester, NH office. To view the full story click here.

LPL Adds $340M Morristown (NJ) Team from Raymond James (Oct. 8)

Don Giovanello, Jr., and Gian Paolella, along with their practice manager from Morristown Wealth Management, joined LPL Financial from Raymond James, bringing with them approximately $340M in client assets. To view the full story click here.

Raymond James Recruits $250M South Dakota FA from LPL (Oct. 8)

Raymond James hired Taylor Thompson, a financial advisor from Rapid City, SD, servicing over $250M in client assets, from LPL Financial. To view the full story click here.

Merrill Scores Texas, New York Teams from Morgan Stanley, JP Morgan (Oct. 10)

Merrill Lynch recruited Texas-based Hill Country Group overseeing $450M in assets from Morgan Stanley, as well as former JP Morgan private wealth manager Michael Puleio in New York with $500M in managed assets. To view the full story click here.

Former Merrill Team Launches Air Capital Wealth Management with LPL (Oct. 10)

Michael Caffrey, Derek Keller, and Gabriel Parham from Merrill Lynch, with approximately $685M in combined serviced assets, established independent practice Air Capital Wealth Management under LPL Financial. To view the full story click here. 

Baird Adds Two FA-Directors for New VA Office (Oct. 11)

Baird added Robert S. Bowman and Matthew L. Preddy from Edelman Financial Engines as directors in its new Richmond, VA, office, bringing a combined $510 in client assets. To view the full story click here.

Equitable Reconnects with $300M Honolulu Team (Oct. 11)

Veteran advisors Shawn E. Hamada and Anna U.J. Kim returned to Equitable, together with fellow advisor Sonnie O. Koko and five support staff of Hamada/Kim Financial from Osaic, where the team serviced $300M in client assets. To view the full story click here.

Edward Jones Reunites with $107M Iowa Advisor (Oct. 11)

Former Wells Fargo advisor Chad Hansen returns to Edward Jones in West Des Moines, IA, bringing in $107M in client assets since having left in 2010. To view the full story click here.

Cetera’s Avantax Adds Teams and Individuals Managing $390M (Oct. 14)

Cetera subsidiary Avantax Wealth Management announced recruiting formerly LPL-affiliated Sentinel Financial Group, Wright Financial Solutions, and Premier Wealth Management, as well as independent advisor Allan Thompson from Ameriprise Financial; Xavier Consulting from Next Financial Group; Progressive Planning Services from Lincoln Financial; Defender Financial Services Group from World Equity Group; and independent advisor W. Townsend Morris from Kestra, for a combined $390M in added Avantax AUA. To view the full story click here.

Raymond James Scores $250M Indiana Team from Edward Jones (Oct. 14)

Bryan Burkhart has launched Burkhart Wealth and Retirement of Raymond James with his daughters and fellow FAs Gabriele E. Burkhart and Gretchen K. Burkhart in their transition to Raymond James from Edward Jones, where they managed over $250M in client assets. To view the full story click here.

LPL Enlists $155M Miami Advisor to GradePoint Affiliate (Oct. 14)

LPL recruited Ashton Medina from Synovus Securities to affiliate firm GradePoint Financial Group as senior wealth advisor with approximately $155M in managed client assets. To view the full story click here.

Baird Continues NoVa Push, Recruiting Again from Edelman with $245M FA (Oct. 15)

Another advisor from Edelman Financial Engines, Robert M. Sargent, joined Baird in Fairfax, VA, as director and financial advisor, adding $245M in assets. To view the full story click here.

Raymond James Scores $1.1B Las Vegas FA Team from RBC (Oct. 16)

Five-person veteran team Business Exit Planning Advisors, with over 100 years of combined experience, has joined Raymond James from RBC Capital Markets, where they oversaw $1.1B in client assets. To view the full story click here.

Cetera Adds $136M AUA Arkansas Advisor (Oct. 16)

Former Arvest Wealth advisor Tom Wolf, managing $136M in AUA, has launched Apex Wealth Management with Cetera Advisors. To view the full story click here.

LPL Secures $450M Florida Advisor Team from Raymond James (Oct. 17)

Financial advisors Michael Collins, Jim Spicer, Ryan Roy, Gary Hummel, Robert Torris, David Zaccagnino, Steven Laesser, and Mark Wolf, with approximately $450M in serviced assets, joined LPL Financial from Raymond James. To view the full story click here.

Edward Jones Scores $97M Veteran Advisor from Wells Fargo (Oct. 17)

Edward Jones hired seasoned advisor Bill I. Burgess with a four-decade tenure from Wells Fargo, bringing in approximately $97M in client assets. To view the full story click here. 

Journey Grows Advisory Pool with Colorado RIA, Schwab Advisor (Oct. 18)

Journey Strategic Wealth added Colorado-based RIA Creative Financial Services, as well as veteran advisor Chad Faulkenberry from Charles Schwab for a combined $822.5M in serviced assets to be integrated into Journey’s AUM. To view the full story click here.

UBS Recruits Two Advisors from JPM, Morgan Stanley (Oct. 18)

James “Jim” Kosan from Morgan Stanley and John Hardin from JP Morgan moved to UBS in two separate recruitments to the firm’s California and Florida wealth management offices. To view the full story click here. 

Rockefeller Adds Newtown (PA) Team from Merrill Lynch (Oct. 21)

Rockefeller Global Family Office recruited the 16-person DiMedio Wealth Partners based in Newtown, PA, previously from Merrill Lynch. To view the full story click here.

Citizens Private Wealth Recruits $600M South FL Team from Fifth Third (Oct. 21)

Citizens Private Wealth added advisor duo Stephen LaForte and Jonathan Soto of the Boca Raton, FL-based LS Wealth Partners from Fifth Third Private Bank, where they managed $600M in client assets. To view the full story click here.

Raymond James Scores $479M Idaho Team from Merrill Lynch (Oct. 21)

Raymond James recruited Idaho-based Riverview Wealth Advisors, composed of financial advisors Larry Stucki, Brandon Peebles, and Jake Waddoups with two client associates formerly with Merrill Lynch, where they serviced approximately $475M in assets. To view the full story click here.

LPL Adds $210M Louisville (KY) Advisor (Oct. 22)

LPL Financial added Louisville, KY-based veteran advisor William “Bill” Fenwick, transitioning from an 18-year tenure at regional brokerage firm First Kentucky Securities and bringing approximately $210M in assets to LPL. To view the full story click here.

Raymond James Scores $1B New York Team From Merrill Lynch (Oct. 23)

A nine-person New York-based team formerly with Merrill Lynch managing over $1B in client assets has transitioned to Raymond James as Scott Klein Gates Gandolfo Wealth Management. To view the full story click here.

$400M Ex-Wells Fargo Team Establishes Independent SoCal RIA (Oct. 23)

A breakaway team from Wells Fargo, with over $400M in serviced client assets, have founded independent practice Syrios Wealth Management Group in Southern California. To view the full story click here. 

$800M Cincinnati Team Joins LPL From Osaic (Oct. 24)

LPL Financial added Cincinnati-based Dougherty, Tedesco & Associates from Osaic, where the team oversaw approximately $800M in client assets. To view the full story click here.

Apollon Adds New Affiliate Advisory Teams, Individuals (Oct. 24)

Apollon Holdings, through its Apollon Wealth Management unit, added CIC Wealth Management and Atlanta-based advisor David Haggard, while its Apollon Financial affiliate additionally recruited Granite Investment Group as well as individual advisors Jim McGowan and Fran Gutrich.To view the full story click here.

Savvy Advisors Adds Denver, NJ Wealth Managers (Oct. 24)

Savvy Advisors added veteran wealth advisors Denver-based Craig Austad and Denvill, NJ-based Eric Passin, with a combined experience of nearly 65 years, to its now more than 30 advisory team managing over $900M in client assets. To view the full story click here.

Raymond James Adds $1.3B TX Advisor from Merrill Lynch (Oct. 25)

Melinda Johnston, another former Merrill Lynch advisor, made the move to Raymond James where she now leads her independent practice M2J Wealth Management with over $1.3B in managed client assets. To view the full story click here.

Homrich Berg Recruits $4B Truist Team, Establishes New Tampa Base (Oct. 28)

Atlanta-based RIA Homrich Berg hired veteran advisor Larry Parkin out of retirement to head up the firm’s new UNHW family office in Tampa, FL, joined by Lex Smith, Ryan Best, Keith Johnson, Brad Glover, and John Willoughby as principals; Steve Cass as managing director; and Drew LaGrande as managing director and family wealth strategist, in a 12-person team collectively managing over $4B in client assets. To view the full story click here.

Established Advisor Joins Cary Street, Expanding NJ Presence (Oct. 28)

Rich Spinner has joined Cary Street Partners, bringing over 30 years of experience with focus on financial planning and investment solutions for high-net-worth clients, while expanding the firm’s footprint in New Jersey. To view the full story click here. 

Kestra Lures $1.4B South Florida Team from B. Riley (Oct. 29)

Kestra Financial added a 31-person team in Boca Raton, FL, from B. Riley Wealth Management, adding $1.4B in assets under management. To view the full story click here. 

UBS Recruits Long Island Advisor from Merrill (Oct. 29)

Veteran financial advisor Richard Morrow left a three-decade tenure at Merrill Lynch to join UBS Wealth Management, bringing $400M in managed client assets. To view the full story click here. 

LPL Adds $205M Northern CO-based Team from Cambridge (Oct. 30)

LPL Financial recruited $205M RIA Goodwin Petrilli Financial, based in Fort Collins, CO, composed of advisors Randy Petrilli, Matt Goodwin, Travis Whitaker, and Jeff McWhorter. To view the full story click here.

LPL Affiliate Perennial Recruits Veteran Edward Jones Advisor (Oct. 30)

Perennial Financial Services, an LPL Financial affiliate, recruited former Edward Jones advisor Julian Locke as senior vice president. To view the full story click here. 

Ampersand Partners Recruits $448M Mid-Atlantic Wells Fargo Team (Oct. 31)

Former Wells Fargo advisors Brad Hindman, Brian J. Kelly, and Cady Kirkwood Rankin, managing $448M in client assets and generating $4.2M in annual revenue, joined Ampersand Partners under their new practice, Apricity Advisors, in Johnstown, PA. To view the full story click here. 

$140M Advisors Leave SageSpring for Victory Financial (Oct. 31)

Advisors Andrew Cremé and Cody Stansell, with $140M in combined serviced assets for SageSpring Wealth Partners, transitioned to Austin, TX-based RIA platform Victory Financial to launch their own firms, Creme Wealth LLC and Steadfast Wealth Planning, respectively. To view the full story click here. 

Compound Planning Adds Five Advisors, Tops $2.5B in AUM (Oct. 31)

Compound Planning added experienced advisors Mark Patzer, Alec Montoya, Todd Rowe, Joe Perna, and Scott Hedgcock, bringing its total AUM to $2.5B and its current advisor count to 26. To view the full story click here. 

Newly formed TFW Global Advisors Joins Alden Investment Group (Oct. 31)

Thomas F. Wiese, a veteran financial advisor with over 20 years of experience in institutional PPLI and PPVA, joined Alden Investment Group to launch TFW Global Advisors, specializing in family offices, HNW clients, and institutional investors. To view the full story click here. 

RBC Lands $1.45B Northeast Teams from Morgan Stanley (Oct. 30)

RBC Wealth Management added Quarry Lake Group and The Smalley Girardi Group from Morgan Stanley, where the two teams managed a combined $1.45B in client assets. To view the full story click here. 

Odds and Ends

B. Riley Sells Majority Stake in Great American to Oaktree for $203M (Oct. 14)

B.Riley agreed to sell a majority stake in its appraisal and valuation business unit Great American Group to Oaktree in a deal that will provide B. Riley with $203M in cash. To view the full story click here.

CAIS Forms RIA Unit to Assist Advisors on Alts Portfolio Builds (Oct. 18)

CAIS launched a new RIA unit, CAIS Advisors, to help financial advisors streamline alternative investment portfolio construction and access various solutions such as customizable model portfolios and a portfolio construction tool called Compass. To view the full story click here. 

Hightower to Acquire Majority Stake in NEPC (Oct. 21)

The holding company of Hightower Advisors entered into an agreement where it will acquire a majority stake in investment consultant and OCIO solutions provider NEPC, in a move that will combine the firms’ AUA and AUM to over $1.8T and $258B, respectively. To view the full story click here. 

Switzerland’s GAM Investments Opens Second US Office in Miami (Oct. 25)

GAM Investments opened a new office in Miami to expand its client support in the US and Latin American markets. To view the full story click here. 

Alvarez & Marsal Establishes New Bi-Coastal UHNW RIA (Oct. 28)

Alvarez & Marsal launched a new family office service, Alvarez & Marsal Private Wealth Partners, led by industry veterans to provide comprehensive wealth management solutions to ultra-high-net-worth clients out of West Palm Beach, FL, with additional offices in New York, Atlanta, and Los Angeles. To view the full story click here.

Dan Lounsbury Family Office Opens New Cayman UHNW Division (Oct. 28)

The Dan Lounsbury Family Office launched a new division specializing in ultra-high-net-worth clientele seeking a presence in the Cayman Islands, offering offshore banking, trusts, and wealth management services, and is also exploring the development of a new educational institution in the region. To view the full story click here.

Cone Marshall, DAFC Form New Asia-Focused Family Office Advisory (Oct. 30)

New Zealand’s Cone Marshall partnered with Macau-based bank Delta Asia Financial Group to establish Delta Asia Cone Marshall Family Office Advisory, a new Asia-focused family office advisory firm. To view the full story click here.