Asset Management

Merit Buys $1.6 Billion Firm Sanctuary Wealth Management

By Amit Chowdhry ● Yesterday at 5:25 PM

Merit Financial Advisors, a Georgia-based financial advisory firm specializing in financial planning and wealth management solutions for high-net-worth individuals, families, and those navigating life transitions, announced it has acquired Sanctuary Wealth Management and Fiduciary Services (FS). This deal enables Merit to establish a presence in Idaho and grow its assets collectively by $1.6 billion.

Integrated Partners: $331 Million Prout Financial Design Team Onboarded

By Amit Chowdhry ● Mar 18, 2025

Integrated Partners - a national financial planning and registered investment advisory (RIA) firm serving over $21.3 billion in assets under advisement (AUA) - announced that Prout Financial Design has joined its growing network. And the Traverse City, Michigan-based advisory firm, which oversees over $331 million in AUA, will utilize Integrated’s investment management platform and succession planning support to drive future growth and continuity.

Morgan Stanley Investment Management: Fourth Global Infrastructure Fund Closed At $4.1 Billion

By Amit Chowdhry ● Mar 17, 2025

Morgan Stanley Infrastructure Partners (MSIP), which is the private infrastructure investment team within Morgan Stanley Investment Management (MSIM), announced that it has raised $4.1 billion for North Haven Infrastructure Partners IV (NHIP IV). And NHIP IV includes some of the world’s largest and most sophisticated institutional infrastructure investors, including public and private pension funds, sovereign wealth funds, and insurance companies.

LPL Onboards $475 Million Advisor Team Carnegie Private Wealth

By Amit Chowdhry ● Mar 17, 2025

LPL Financial announced that financial advisors James Larsen, CFP, Lucas Decker, CFP, Kevin Lewis, CFP, CEPA, and Seth Miller, CFP, CEPA, have joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms, aligned with Carnegie Private Wealth (an existing firm supported by LPL Strategic Wealth). And the advisors reported serving about $475 million in advisory, brokerage and retirement assets. Larsen joins LPL from Wells Fargo Advisors, and Decker, Lewis and Miller join from Edward Jones.

Summit Financial Onboards $830 Million Firm Gateway Advisory

By Amit Chowdhry ● Mar 16, 2025

Summit Financial - a preeminent investment advisory firm with 40+ years of experience providing market-leading multi-family office services that enable financial advisors to accelerate growth- announced that Gateway Advisory is the latest firm to join its expanding network. This marks Summit’s 21st strategic investment since the start of 2024, enhancing its status as a premier partner for forward-thinking advisory firms seeking accelerated growth and enhanced capabilities.

B. Riley: Investment Bank Spins Off

By Amit Chowdhry ● Mar 15, 2025

B. Riley Financial announced this week that it is splitting off its investment banking unit while also retaining the majority of the shares in the new company. As part of this deal, B. Riley merged with shell entity Cascadia Investments. And certain investors in Cascadia will become minority stockholders of the investment bank, which is called B. Riley Securities (BRS).

Edward Jones: Generations Launched For High-Net-Worth Clients

By Amit Chowdhry ● Mar 15, 2025

Edward Jones is launching Edward Jones Generations, the firm's first private client services offering for U.S. high-net-worth clients. Built to meet the specific needs of these clients, Edward Jones Generations provides expanded advice, planning, products, and services for clients who value personalized support and trusted relationships. Edward Jones Generations will be available to select clients in the second quarter of 2025 and expand more broadly next year.

Compound Planning: Digital Family Office Grows To $3 Billion AUM

By Amit Chowdhry ● Mar 12, 2025

Compound Planning—a leading digital family office committed to reimagining wealth management for next-generation advisors—announced that seven financial advisors, including a four-person advisory team that previously managed $1.2 billion, have joined the firm. The latest additions cement what has been a period of rapid growth for the firm. And Compound eclipsed $3 billion in total assets under management (“AUM”) as of January 31, after the firm added 30 total advisors and doubled its AUM in 2024.

Polen Capital: First CLO Closed At $407.15 Million

By Amit Chowdhry ● Mar 11, 2025

Polen Capital Management - a global investment management firm specializing in growth equity and credit - announced the closing of its debut collateralized loan obligation (CLO). And Polen Capital CLO 2025-1, Ltd., a $407.15 million CLO that is secured primarily by a pool of broadly syndicated first-lien loans represents an important step in Polen’s strategy to expand its credit and structured finance offerings to serve a wider range of investors.

EP Wealth Advisors Buying $190 Million Firm The Holben Group

By Amit Chowdhry ● Mar 11, 2025

EP Wealth Advisors - a leading fee-only registered investment adviser (RIA) with a growing national footprint - has announced their partnership with The Holben Group in Denver, Colorado. This alignment builds on EP Wealth’s long-time presence in Colorado, adding over $190 million in assets under management (AUM).

LPL Brings In $190 Million FA Michael Carmichael

By Amit Chowdhry ● Mar 7, 2025

LPL Financial announced that financial advisor Michael Carmichael, RFC, CRPS, founder of Carmichael Financial, announced it has joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. He reported serving about $190 million in advisory, brokerage and retirement plan assets* and joins LPL from Osaic.

LPL Onboards $1.15 Billion Townsgate Wealth Management Team

By Amit Chowdhry ● Mar 6, 2025

LPL Financial announced that financial advisors Jim Murray, Larry Bernstein, Abby Goldstein, CFP, Michael Kazmer, CFP, Brett Goldberg and Wesley Wong of Townsgate Wealth Management have joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. And they reported serving about $1.15 billion in advisory, brokerage and retirement assets* and join LPL from Wells Fargo Advisors Financial Network.

LPL Adds $400 Million Servant Path Wealth Partners Team

By Amit Chowdhry ● Mar 5, 2025

LPL Financial announced financial advisors Joe Young, CFP, and Ryne Stokes, CFP, have joined LPL’s employee advisor channel Linsco by LPL Financial to launch Servant Path Wealth Partners. And they reported serving about $400 million in advisory, brokerage and retirement plan assets and joined LPL from Synovus Securities.

Wellington Management: $194 Million Raised For First CLO Partners Fund

By Amit Chowdhry ● Mar 4, 2025

Wellington Management, which is one of the world’s largest independent investment management firms and a seasoned collateralized loan obligation (CLO) investor, recently announced the successful final close of its inaugural Wellington CLO Partners Fund I. With $194 million of capital commitments, including $27 million from affiliates, the Fund exceeded its initial $150 million target.

Wedbush Announces Entry Into ETF Market

By Amit Chowdhry ● Mar 1, 2025

Wedbush, a Los Angeles-based financial services firm, announced it is introducing Wedbush Fund Advisers and an entry into the rapidly growing exchange-traded fund (ETF) market. This milestone marked an expansion of Wedbush’s commitment to cutting-edge investment solutions and highly curated product development.

Apex Fintech Solutions Reveals ‘Alts’ Alternative Investments Platform

By Amit Chowdhry ● Mar 1, 2025

Apex Fintech Solutions - an innovation launchpad for the global investment ecosystem - announced the upcoming launch of Apex Alts, a solution designed to democratize access to alternative investments for customers of broker dealers, advisory firms, and other wealth management companies.

Raymond James: Stuart Feld Promoted To Chief Artificial Intelligence Officer

By Amit Chowdhry ● Mar 1, 2025

Raymond James announced that Stuart Feld has been promoted to Chief Artificial Intelligence Officer. For this newly created leadership role, Feld serves as the firm’s principal AI architect to drive enterprise-wide innovation. And he is responsible for exploring and applying emerging technologies to enhance advisor- and client-facing services and solutions, as well as those across all the businesses’ needs.

Principal: $3.64 Billion Raised For Data Center Growth & Income Fund

By Amit Chowdhry ● Feb 28, 2025

Principal Asset Management, the investment management unit of Principal Financial Group, reached the final investor close on February 28 for its Principal Data Center Growth & Income Fund, which is dedicated to developing a portfolio of hyperscale data center projects across the US. The fund raised $3.64 billion, well over the target of a diverse global investor base. This is the third discretionary data center-focused vehicle by Principal.

Mercer Buying $35+ Billion Firm SECOR Asset Management

By Amit Chowdhry ● Feb 28, 2025

Mercer, a business of Marsh McLennan and a global leader in helping clients realize their investment objectives, announced that it reached an agreement to acquire SECOR Asset Management, a global provider of bespoke strategic and portfolio solutions. The terms of the deal, which is expected to close in the second quarter of 2025, subject to regulatory approvals and client consents, were not disclosed.

Antin Infrastructure Partners: Guillaume Friedel And Ashkan Karimi Named As Senior Partners

By Amit Chowdhry ● Feb 28, 2025

Antin Infrastructure Partners announced it is strengthening its Senior Partner ranks through the promotions of Guillaume Friedel and Ashkan Karimi, effective immediately.

Rise Growth Partners Buys Minority Stake In Grimes & Company

By Amit Chowdhry ● Feb 27, 2025

Rise Growth Partners, a wealth management firm for growth-oriented registered investment advisors (RIAs), announced its second strategic minority investment, backing Grimes & Company.

Macquarie Asset Management: Acquisition Of Remaining Stake In Galehead

By Amit Chowdhry ● Feb 27, 2025

Macquarie Asset Management (MAM), Galehead Founders (GDF), Galehead Development, and Treaty Oak Clean Energy announced that MAM will acquire from GDF the remaining controlling interests in Galehead via funds managed by MAM. This investment will enable Galehead to become a subsidiary of Treaty Oak, a leading US independent power producer (IPP) owned by MAM-managed funds.

XXI Wealth: Independent Firm Launches In Partnership With Dynasty Financial Partners

By Amit Chowdhry ● Feb 26, 2025

Several veteran advisors announced the launch of their independent firm, XXI Wealth, in partnership with Dynasty Financial Partners. Based in Chicago, Illinois, XXI Wealth is an independent comprehensive wealth management firm providing best-in-class service and access to unique investment opportunities.

Heitman: Majority Stake Acquired In Swedish Self-Storage Operator Servistore

By Amit Chowdhry ● Feb 26, 2025

Global real estate investment management firm announced the acquisition of a majority stake in the third largest self-storage operator in Sweden called Servistore. This business has 31 sites (25 operational and 6 due to open) across 14 cities. It encompasses over 4,000 units, spanning a total of 330,000 square feet of storage space.

Redding Ridge Buying Irradiant Partners, Increasing AUM To $38 Billion

By Amit Chowdhry ● Feb 26, 2025

Redding Ridge Asset Management (RRAM), an independently managed affiliate of Apollo, announced it has agreed to acquire Irradiant Partners, an alternative investment manager specializing in liquid credit, private credit and renewables.

J.P. Morgan: Direct Lending Commitment Increased To $50 Billion

By Amit Chowdhry ● Feb 25, 2025

J.P. Morgan announced a significant expansion to its private credit commitment at its 30th annual Global Leveraged Finance Conference. The firm is allocating $50 billion from its balance sheet and nearly $15 billion from multiple co-lenders. This strategic move was designed to extend the firm’s direct lending capabilities and provide tailored private credit solutions to meet clients' evolving needs.

Surus: $8 Million (Seed) Raised For Institutional-Grade Asset Management Platform

By Amit Chowdhry ● Feb 21, 2025

Surus, an institutional-grade asset management and custody platform for on-chain finance, announced that it received regulatory approval from the North Carolina Commissioner of Banks to open Surus Trust Company, a wholly owned subsidiary.

Prime Capital Financial Brings In $1 Billion Team Sugarloaf Wealth Management

By Amit Chowdhry ● Feb 21, 2025

Prime Capital Financial announced it has partnered with Sugarloaf Wealth Management, a full-service firm based in Duluth, Georgia, with another office in Athens. And the partnership marks Prime Capital Financial’s first expansion into the Atlanta metro area, enhancing its capabilities with nearly $1 billion in assets under management/advisement (AUM/A) and a team of 13 professionals, including eight CFP Professionals, two MBAs, a CPA, a CIMA, and an AIF.

Tocqueville Asset Management: $1.3 Billion Team Poplar Forest Capital Added

By Amit Chowdhry ● Feb 21, 2025

Tocqueville Asset Management, a 40-year-old investment management firm committed to delivering financial advice and services to families and institutions worldwide, announced that the advisory team at Poplar Forest Capital would join Tocqueville. Poplar Forest Capital has assets of $1.3 billion and it was founded in September 2007 by Dale Harvey, a Capital Group alumnus and portfolio manager, and focuses on long-term and bottom-up, value-oriented strategies.

Sanctuary Wealth: $600 Million Team NewSpring Onboarded

By Amit Chowdhry ● Feb 21, 2025

Sanctuary Wealth, a firm that provides elite financial advisors with the flexibility, control, and choice to thrive in an evolving industry, announced it onboarded NewSpring Wealth Partners to its growing network. Launched by wealth advisor Kristin Larson, CFP, CPWA, the Minneapolis-based firm manages nearly $200 million in client assets. Before establishing an independent practice with Sanctuary, Larson spent the past nine years serving clients at UBS.