Asset Management

LPL Onboards $1.3 Billion Bruen Wealth Management Team

By Amit Chowdhry ● Yesterday at 7:16 PM

LPL Financial announced that father and son financial advisors William “Bill” Bruen, Jr., and Andrew Bruen had joined LPL Financial’s broker-dealer, aligned with existing firm Paradigm Partners. The Bruens reported serving about $1.3 billion in advisory, brokerage, and retirement plan assets* and joined LPL from UBS.

Ares Management: Kipp deVeer And Blair Jacobson Named As Co-Presidents

By Amit Chowdhry ● Feb 12, 2025

Leading global alternative investment manager Ares Management announced that it has appointed Kipp deVeer and Blair Jacobson to the newly created positions of co-presidents. And Jacobson and deVeer will report to Ares’ Chief Executive Officer Michael Arougheti. And deVeer and Jacobson will continue to be based in New York and London, respectively.

Arax Investment Partners Acquires $1 Billion Firm Cedrus Financial

By Amit Chowdhry ● Feb 11, 2025

Closed Loop Raises Strategic Investment From Capricorn

By Amit Chowdhry ● Feb 11, 2025

Closed Loop Partners announced that investor Capricorn Investment Group made a growth investment in its asset management business: Closed Loop Capital Management. Capricorn joins existing shareholders, JS Capital, Schusterman Family Investments, and majority owner Closed Loop Partners founder and CEO Ron Gonen.

LPL Onboards $1 Billion Team Salient Wealth Planning Group

By Amit Chowdhry ● Feb 11, 2025

LPL Financial announced that financial advisors John P. Schlatter, CFP, Robert Rojano, Alec Hoag, CFP, and Michael Madden, CFA, have joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported serving about $1 billion in advisory, brokerage, and retirement plan assets and joined LPL from Osaic.

Sequoia Financial Buying $3.8 Billion Wealth Manager Carlson Capital

By Amit Chowdhry ● Feb 11, 2025

Sequoia Financial Group - an SEC-registered wealth manager with $22.6 billion in assets under management as of December 31, 2024, and Carlson Capital Management (CCM), a Northfield, Minnesota-based investment advisory firm with $3.8 billion in client assets as of December 31, 2024, announced they have reached an agreement for Sequoia Financial to acquire CCM. The firms expect to complete the transaction on March 31. The financial terms were not disclosed.

Carson Group: $365 Million Team Added To Partner Network

By Amit Chowdhry ● Feb 11, 2025

Carson Group, a leading wealth advisory firm with over $40 billion in assets under management (AUM), announced a partnership with Jerod Wurm, CFP Managing Partner, Wealth Advisor, and Casey Frye, CFP, Managing Partner, Wealth Advisor, a Roseville, California–based advisory with $365 million in AUM. As part of the partnership, the firm will rebrand as Carson Wealth.

Janus Henderson’s ETF JAAA Surpasses $20 Billion In AUM

By Amit Chowdhry ● Feb 11, 2025

Janus Henderson Investors announced that its pioneering AAA Collateralized Loan Obligation ETF, Janus Henderson AAA CLO ETF (JAAA), has surpassed $20 billion in assets under management (AUM). And JAAA is the largest CLO ETF as measured by AUM and ranked first in year-to-date net flows for all active ETFs. Janus Henderson’s suite of CLO products also includes JBBB and a European CLO ETF.

LPL Financial Brings In $345 Million Team Jackson/Roskelley Wealth Advisors

By Amit Chowdhry ● Feb 11, 2025

LPL Financial announced that financial advisors Jared Roskelley, CFP, and Kyle Robertson, CFP, of Jackson/Roskelley Wealth Advisors have joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. They reported serving about $345 million in advisory, brokerage, and retirement plan assets and joined LPL from Ameriprise.

Summit Financial Acquires Stake In $700 Million Wealth Manager Genex

By Amit Chowdhry ● Feb 10, 2025

Investment advisory firm Summit Financial - in collaboration with Merchant Investment Management - announced that Genex Consulting has joined its network, marking Summit's first investment of this year. This collaboration highlights the strength of the Summit-Merchant partnership as they buy a stake in Genex, a $700 million wealth management firm.

Pacer ETFs Announces Launch Of PE/VC ETF Fund

By Amit Chowdhry ● Feb 8, 2025

Pacer ETFs, a leading U.S. issuer of free cash flow ETFs, announced the launch of its latest fund, the Pacer PE/VC ETF. PEVC is a rules-based strategy designed to replicate the risk and return characteristics of the FTSE PE/VC Index while also offering the liquidity, transparency, and cost-efficiency of an ETF product.

LPL Brings In $385 Million Firm Johns Creek Financial

By Amit Chowdhry ● Feb 7, 2025

LPL Financial announced that financial advisors Brian J. McGill, II, CFP, and Michael R. Hyser, CFP, have joined LPL Financial’s broker-dealer, RIA, and custodial platforms. They reported serving about $385 million in advisory, brokerage, and retirement plan assets and joined LPL from Kestra.

Dynasty Onboards $6.4 Billion SageSpring Team

By Amit Chowdhry ● Feb 5, 2025

Dynasty Financial Partners announced that SageSpring Wealth Partners has joined its platform of technology-driven wealth management tools and services. SageSpring was created in 2002 and it features more than 45 advisor teams who manage about $6.4 billion for over 10,000 individual clients. And the firm has nine offices across Tennessee, Alabama, Texas, Nebraska, and Iowa, with plans to expand further. SageSpring was previously affiliated with Raymond James Financial Services. This marks one of the largest moves to full independence in the industry over the last several years.

Pitcairn Buys Brightside Partners And Launches RIA

By Amit Chowdhry ● Feb 5, 2025

Pitcairn, which is one of America’s leading family offices that has served many leading ultra-high-net-worth families for more than a century, announced its latest initiative in its mission to provide an outstanding experience for clients. And the firm has acquired Brightside Partners, a UHNW-focused Registered Investment Advisor (RIA) based in Baltimore, MD.

OneVest: $20 Million (Series B) Raised For Transforming Wealth Management

By Amit Chowdhry ● Feb 3, 2025

OneVest, a comprehensive wealth management technology platform, announced the closing of a $20 million Series B equity funding round. The funding round was led by Salesforce Ventures, with participation from new investors, Allianz Life Ventures and TIAA Ventures. And returning investors include OMERS Ventures, Deloitte Ventures, Fin Capital, Luge Capital, and Pivot Investment Partners.

Bogart Wealth Closes On Minority Investment From Constellation Wealth Capital

By Amit Chowdhry ● Feb 3, 2025

Bogart Wealth, an independent wealth management and Registered Investment Advisory firm, announced that it has closed on a minority, long-duration investment from Constellation Wealth Capital (CWC). This long-term strategic investor provides capital solutions exclusively to wealth management businesses and multi-family offices.

Jump: $20 Million (Series A) Raised For AI-Based Financial Advisor Platform

By Amit Chowdhry ● Feb 3, 2025

Jump, a leading provider of AI-based solutions for financial advisors and other financial services providers, announced today the completion of a $20 million Series A funding round led by Battery Ventures, with additional participation from Citi Ventures and existing investors Sorenson Capital and Pelion Ventures Partners. This funding validates the growing demand for advisor-specific AI tools that streamline administrative tasks and empower financial professionals to elevate the advisor and client experience.

Guggenheim Investments: About $400 Million Vehicle Closed To Invest In Private Debt Strategy

By Amit Chowdhry ● Feb 3, 2025

Guggenheim Investments announced the closing of about $400 million vehicle that will invest in Guggenheim’s private debt strategy. Allianz Global Investors led the deal. And a group of funds managed by StepStone Group co-underwrote the transaction. This vehicle includes about $100 million of financing.

Focus Partners Brings In $4.16 Billion Firm Merriman Wealth

By Amit Chowdhry ● Jan 31, 2025

Focus Financial Partners, an interdependent partnership of wealth management, business management, and financial services firms, announced that it has entered into a definitive agreement under which Seattle, WA-based Merriman Wealth Management will join Focus Partners Wealth. This deal is expected to close on February 1, 2025, subject to customary closing conditions. Upon the completion of this deal, Merriman is expected to add approximately $4.16 billion, measured as of September 30, 2024, to Focus Partners Wealth’s regulatory assets under management.

Bogart Wealth: Minority Investment From Constellation Wealth Capital

By Amit Chowdhry ● Jan 25, 2025

Bogart Wealth, an independent wealth management and Registered Investment Advisory firm, announced that it has closed on a minority, long-duration investment from Constellation Wealth Capital (CWC). This long-term strategic investor provides capital solutions exclusively to wealth management businesses and multi-family offices. This minority investment in Bogart Wealth will be used to further enhance the firm’s client services, technology solutions, recruitment initiatives, marketing activities, and more. And Bogart Wealth remains a proudly independent registered investment adviser (RIA), with employees being the overwhelming majority owners of the business.

Ardian: $30 Billion Raised For Ninth-Generation Secondaries Platform

By Amit Chowdhry ● Jan 25, 2025

Ardian, a leading private investment house, announced that it has raised $30 billion for its ninth-generation secondaries platform, making it the largest secondaries fundraise globally to date and solidifying Ardian’s leadership of the secondaries market. And this represents a significant increase over the $19 billion raised for Ardian’s eighth-generation platform in 2020 and brings Ardian’s Secondaries & Primaries Assets Under Management to $97 billion.

Corient Acquires Multi-Family Office Business Of Geller & Company

By Amit Chowdhry ● Jan 25, 2025

Corient, one of the largest and fastest-growing national wealth advisors in the U.S., announced it acquired the multi-family office business of Geller & Company (Geller MFO). And Geller MFO is a premier New York City-based multi-family office with $10.4 billion in assets under management and advisement. This move reinforces Corient’s presence in one of the nation’s largest markets and deepens the firm’s family office capabilities.

Integrated Partners Expanding West Coast Presence With Addition Of RetirementDNA

By Amit Chowdhry ● Jan 25, 2025

Integrated Partners, a national financial planning and registered investment advisory (RIA) firm serving over $20 billion in assets under advisement (AUA), announced San Diego-based RetirementDNA as the latest advisory team to join its network. This deal marks a significant expansion of both firms' capabilities in retirement plan services and wealth management.

LPL Financial Onboards $430 Million Advisors Larry Forlenza And Carl Hanks

By Amit Chowdhry ● Jan 24, 2025

LPL Financial announced that financial advisors Larry Forlenza, CRPC, and Carl Hanks, CRPC, have joined LPL Financial’s broker-dealer, RIA and custodial platforms. And they reported serving about $430 million in advisory, brokerage and retirement plan assets and join LPL from Raymond James Financial Services.

Raymond James Onboards $500 Million Financial Advisor Kristin Sullivan

By Amit Chowdhry ● Jan 23, 2025

Raymond James announced it recently welcomed financial advisor Kristin Sullivan, CWS, MBA, to Raymond James Financial Services (RJFS) – which is the firm’s independent advisor channel – according to Sanjiv Shukla, Western assistant division director for RJFS.

LPL Onboards $340 Million Advisor Marcus Alexander

By Amit Chowdhry ● Jan 22, 2025

LPL Financial announced that financial advisor Marcus Alexander, CPFA, MBA, has joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch Alexander Wealth Solutions. He reported serving approximately $340 million in advisory, brokerage, and retirement plan assets and joined LPL from Merrill Lynch. He will serve clients from LPL’s newest Linsco office in Newport Beach, California.

AllianzGI: €1.5 Billion Raised For Secondary Private Credit

By Amit Chowdhry ● Jan 21, 2025

Allianz announced that the Allianz Private Debt Secondaries Fund (APDS) held the final close at €1.5 billion, including related transaction vehicles. And the APDS enables institutional clients to invest in secondary opportunities targeting the US, Europe, and Asia. The launch of the successor strategy is planned for the middle of this year.

Ares Management: €30 Billion Raised For European Direct Lending Strategy

By Amit Chowdhry ● Jan 21, 2025

Ares Management, a leading global alternative investment manager, announced the final closing of its sixth commingled European direct lending fund, Ares Capital Europe VI (ACE VI). And with total commitments of €17.1 billion, the fund closed above its €15 billion target and reached its hard cap. Ares believes ACE VI is the largest institutional fund in the global direct lending market based on LP equity commitments.

Elevation Point Invests In Michigan-Based $750 Million AUM Firm Stonebrook Private

By Amit Chowdhry ● Jan 21, 2025

Elevation Point, a growth accelerator and minority stake partner for independent advisors and breakaway firms announced its strategic investment in Stonebrook Private, based in Northville, Michigan.

Homrich Berg Closes $6.4 Billion RIA WMS Partners Acquisition

By Amit Chowdhry ● Jan 20, 2025

HB Wealth Management (HB), a leading Atlanta-based fee-only wealth advisor, announced the closing of its acquisition of WMS Partners (WMS), a $6.4 billion AUM RIA headquartered in Towson, Maryland. This strategic deal enhances HB’s family office service offerings, strengthens its presence in the mid-Atlantic region, and positions the combined firm to better serve ultra-high-net-worth families across the U.S.