Asset Management

Pemberton Capital Advisors Adopting Broadridge’s Sentry Private Credit Portfolio Management Solution

By Amit Chowdhry ● Jan 7, 2025

Broadridge Financial Solutions announced that Pemberton Capital Advisors LLP, a leading European private credit manager, has adopted Broadridge’s Sentry Private Credit Portfolio Management solution. And Pemberton selected Broadridge’s technology to help it gain greater operational efficiencies and scale its private debt and collateralized loan obligation (CLO) businesses to meet growing demand.

LPL Brings In $280 Million FA John Somerville

By Amit Chowdhry ● Jan 7, 2025

LPL Financial announced that financial advisor John Somerville has joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch Somerville Wealth Management. He reported serving approximately $280 million in advisory, brokerage, and retirement plan assets and joins LPL from D.A. Davidson & Co. He will operate from a new Linsco office in Santa Barbara, California.

Mesirow Buying Asset-Backed Lender Bastion Management

By Amit Chowdhry ● Jan 7, 2025

Mesirow - an independent, employee-owned financial services firm - announced that it has acquired Bastion Management, an asset-backed specialty finance lender. This deal closed late last month.

Homrich Berg: Tim Tallach Named As Director Of Advanced Tax Planning And Family Office Services

By Amit Chowdhry ● Jan 7, 2025

HB Wealth Management (HB) - a leading Atlanta-based fee-only wealth advisor with offices across the Southeast - announced the addition of Tim Tallach, J.D., CPA, as Director of Advanced Tax Planning and Family Office Services within the HB Family Office division. And Tallach brings 28 years of experience providing strategic tax planning and family office services to ultra-high-net-worth clients.

TAG Associates: Gonzalo Acevedo Named As Managing Director

By Amit Chowdhry ● Jan 7, 2025

TAG Associates - a multi-family office and portfolio management services firm - announced that Gonzalo A. Acevedo, a wealth management veteran in South Florida, has joined the firm as Managing Director.

UBS Private Wealth Management: Michael Rubenstein Joins Advisor Team

By Amit Chowdhry ● Jan 7, 2025

UBS Private Wealth Management announced that Michael Rubenstein will join Private Wealth advisor team The Matina Group at UBS in Naples, Florida. Rubenstein’s responsibilities will include business development, relationship management, trust, estate and financial planning, and investment management.

Catalyst: Financial Services Company Raises Funding From Aquiline

By Amit Chowdhry ● Jan 7, 2025

Catalyst Global Financial Group - an innovative international financial services and technology firm - announced a significant growth investment from Aquiline, a private investment specialist with $11.3 billion of assets under management that invests across financial services and technology.

Dynasty Financial Partners: Lindsey Strawhecker Named As Director of Transitions

By Amit Chowdhry ● Jan 7, 2025

Dynasty Financial Partners announced that Lindsey Strawhecker has joined the firm as Director of Transitions. And with nearly two decades of experience in financial operations and advisor onboarding, Strawhecker will play a notable role in ensuring smooth and efficient transition experiences for advisors joining Dynasty’s independent wealth management platform.

Insignia Financial Receives $1.78 Billion Bid From CC Capital

By Amit Chowdhry ● Jan 6, 2025

Australia-based Insignia Financial announced it received an A$2.87 billion ($1.78 billion) takeover bid from CC Capital Partners, which was higher than an A$2.67 billion offer from Bain Capital. This deal would give CC Capital access to a $A4.1 trillion superannuation system. This is considered one of the largest private pension markets in the world.

MAI Capital Management Announces Acquisition Of Garrison Asset Management

By Amit Chowdhry ● Jan 6, 2025

MAI Capital Management, a registered investment adviser (RIA) specializing in comprehensive investment and financial planning for high-net-worth individuals and families, announced the acquisition of Garrison Asset Management. The terms of the transaction were not disclosed.

Raymond James Onboards $400 Million Helton Wealth Management Team

By Amit Chowdhry ● Jan 5, 2025

Raymond James has welcomed financial advisor Chris Helton to the firm’s independent advisor channel Raymond James Financial Services (RJFS) as reported by Todd Gartrell, Southeast division director for RJFS. Based in Huntsville, Alabama,

Orion: Acquisition Of Summit Wealth Systems Completed

By Amit Chowdhry ● Jan 4, 2025

Orion, a provider of transformative wealth technology solutions for financial advisors and the enterprise firms that serve them, announced the completion of its acquisition of advisor technology provider Summit Wealth Systems. As part of the deal, Summit’s co-founder and CEO, Reed Colley, joined Orion today as President of Orion Advisor Technology, reporting to Orion CEO Natalie Wolfsen. The definitive agreement was announced on December 19, 2024, and further deal details will not be disclosed.

CAPTRUST Buys Campbell Wealth And TruNorth, Adding $1.97 Billion In Assets

By Amit Chowdhry ● Dec 27, 2024

CAPTRUST Financial Advisors announced the addition of Campbell Wealth Management in Alexandria, Virginia, and TruNorth Wealth Partners in St. Paul, Minnesota. Combined these teams bring $1.97 billion in assets.

Raymond James Onboards $995 Million Advisor Team

By Amit Chowdhry ● Dec 27, 2024

Raymond James & Associates’ Mid-American regional director, Amy Smart, announced that the firm recently welcomed financial advisors Adam Ours, John Koch, and Padma Jambunath to the firm’s employee advisor channel in Cleveland, Ohio. The team includes senior client relationship manager Jeffrey Danzinger, senior registered client relationship associate Sasha Delic-Milanovic, and senior client service associate Betsy Margolin. They come from Merrill Lynch, where they managed approximately $995 million in client assets and will operate as part of RJA’s Cleveland Beachwood branch.

Commonwealth Onboards Two Long Island Affiliates With Over $495 Million In Client Assets

By Amit Chowdhry ● Dec 27, 2024

Commonwealth Financial Network, a national RIA dedicated to offering financial advisors with integrated business solutions, announced it welcomed two Jericho, New York-based independent advisory firms previously affiliated with Securities America (now Osaic) and collectively reported more than $495 million in client assets.

Third Point Acquires Diversified Alternative Credit Fund Manager AS Birch Grove

By Amit Chowdhry ● Dec 26, 2024

Third Point, an alternative investment manager with $12 billion of assets, announced that it has entered into a definitive agreement to acquire AS Birch Grove LP, a diversified alternative credit fund manager. And upon the completion of the deal, American Securities will no longer be an owner of Birch Grove, which will become a subsidiary of Third Point.

Orion To Buy Summit Wealth Systems

By Amit Chowdhry ● Dec 26, 2024

Orion, a provider of transformative wealth-technology solutions for financial advisors and the enterprise firms that serve them, announced a definitive agreement to acquire advisor technology provider Summit Wealth Systems. When the deal closes in early 2025, Summit’s CEO, Reed Colley, will join Orion as President of Orion Advisor Technology, reporting to Orion CEO Natalie Wolfsen.

MetLife Buying PineBridge Investments In $1.2 Billion Deal

By Amit Chowdhry ● Dec 26, 2024

MetLife Investment Management (MIM) - MetLife's institutional asset management business - announced that it has reached a definitive agreement to acquire PineBridge Investments, a global asset manager with about $100 billion in assets under management, from the Pacific Century Group.

GoldenTree Asset Management Closes $500 Million CLO

By Amit Chowdhry ● Dec 26, 2024

GLM III, LP (GLM III) and its affiliated investment manager GoldenTree Asset Management LP (along with other affiliated investment managers GoldenTree), announced the closing of a $500 million collateralized loan obligation (CLO) to be managed by GLM III.

NewEdge Capital Exceeds 2024 Recruiting Target Of $9.5 Billion In Expected AUM In Less Than A Year

By Amit Chowdhry ● Dec 25, 2024

NewEdge Capital - a leading and growing wealth management firm supporting successful financial advisors nationwide - announced it exceeded its 2024 recruiting target of $9.5 billion in expected assets under management (AUM) in less than 12 months.

Summit Financial Acquires Minority Stake In Gordon Asset Management

By Amit Chowdhry ● Dec 23, 2024

Summit Financial, an advisory firm with over 40 years of experience providing multi-family office services that empower financial advisors to accelerate growth, announced that Gordon Asset Management has joined its network. Summit’s innovative partnership model Summit Growth Partners (SGP) has strategically invested in Gordon, marking its 18th strategic investment this year. Gordon will now have access to Summit's expansive network and comprehensive resources, including a wide range of investment strategies and alternative opportunities.

Waverly Advisors Buying Planning Capital Management, Increasing AUM To About $15.9 Billion

By Amit Chowdhry ● Dec 23, 2024

Waverly Advisors, a federally registered investment adviser (RIA) specializing in investment management, financial planning, and wealth management solutions for a diverse group of high-net-worth individuals, corporate retirement plans, and institutional clients, has acquired Planning Capital Management, an investment advisory firm based in Paoli, Pennsylvania. This partnership establishes Waverly’s presence in the greater Philadelphia area.

Savant Acquires $536 Million RIA Source Financial Advisors

By Amit Chowdhry ● Dec 23, 2024

Savant Wealth Management, a fee-only registered investment adviser (RIA), announced the acquisition of woman-owned Source Financial Advisors - a New York, NY-based boutique RIA with $536 million in assets under management. Savant did not disclose the terms of the deal.

Merit Acquires Roth Asset Management, Increasing Assets By $773 Million

By Amit Chowdhry ● Dec 23, 2024

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 had acquired Roth Asset Management. This deal will expand Merit's presence in the Pacific Northwest and increase assets by $773 million.

LPL Brings In $540 Prestige Wealth Group Team

By Amit Chowdhry ● Dec 22, 2024

LPL Financial announced that the Prestige Wealth Group (PWG) advisors, led by managing partners Rich Galgano, CFP, and Matt Geraci, CFP, have joined LPL Financial’s broker-dealer, RIA, and custodial platforms. They reported serving about $540 million in advisory, brokerage, and retirement plan assets and joined LPL from Osaic.

Apella Wealth Brings In $144 Million RIA Young Wealth Management Team

By Amit Chowdhry ● Dec 21, 2024

Apella Wealth, a financial advisory and wealth management firm serving individuals, families, and businesses, announced that Young Wealth Management, a registered investment adviser (RIA), has joined the firm. This is Apella’s fourth acquisition this year and expands its presence in Davis, California, adding to its regional financial planning and investment management capabilities. Led by Founder and Principal Kevin M. Young, MBA, EA, CFP, Young Wealth Management provides financial planning and wealth management services to individuals and families.

LPL Onboards $300 Million Advisor Jeffrey Grange

By Amit Chowdhry ● Dec 20, 2024

LPL Financial announced that financial advisor Jeffrey Grange, CWS has joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch Grange Wealth Management of LPL Financial. He reported serving about $300 million in advisory, brokerage, and retirement plan assets. And he joined LPL from D.A. Davidson & Co. He will be operating from a new Linsco office in Santa Barbara, California.

Corient To Buy $7.9 Billion RIA H.M. Payson

By Amit Chowdhry ● Dec 20, 2024

Corient - which is one of the nation’s largest and fastest-growing national wealth advisors - announced it has agreed to acquire H.M. Payson & Co. (HMP), Maine’s largest registered investment advisory firm with $7.9 billion in assets under management. And HMP also serves as a Maine chartered trust company, managing approximately $1.2 billion in trust assets.

Perigon Wealth Management Onboards $170 Million Harrigan Group Team

By Amit Chowdhry ● Dec 18, 2024

Perigon Wealth Management - a rapidly growing independent wealth management firm with offices across the country and about $8.2 billion in client assets as of June 30, 2024 - announced it expanded its Florida network with the addition of the Harrigan Group. And Robert Harrigan and his son Evan Harrigan have joined Perigon’s Boca Raton, Florida, office from UBS, where they oversaw $170 million in total client assets.

Constellation Wealth: Inaugural Fund Closed With Over $1 Billion In Capital Commitments

By Amit Chowdhry ● Dec 17, 2024

Constellation Wealth Capital (CWC) - an alternative asset manager dedicated to providing capital solutions to the wealth management sector - announced the successful final closing of its inaugural fund, Constellation Wealth Capital Fund.