Asset Management

UBS Hires Michigan-Based Advisor Denise Meulebrouck

By Amit Chowdhry ● Nov 10, 2024

UBS Wealth Management announced that Denise Meulebrouck has joined the firm as a Financial Advisor based in Birmingham, Michigan. She brings over 27 years of wealth management experience and will join the 12-person advisor team, BLS Meulebrouck Wealth Management Group at UBS.

Focus Financial Partners To Onboard Homan Wealth Advisors

By Amit Chowdhry ● Nov 10, 2024

Focus Financial Partners - a leading partnership of wealth management, business management, and related financial services firms - announced that it has entered into a definitive agreement under which Homan Wealth Advisors of Omaha, Nebraska will join Buckingham Strategic Wealth (a trade name of The Colony Group). This deal is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

Janney Brings In Firms Together Representing Over $700 Million In Assets

By Amit Chowdhry ● Nov 10, 2024

Janney Montgomery Scott - a leading full-service wealth management and investment banking firm - announced the addition of Markley Beckley Wealth Advisors and HD Wealth Partners.

Sequoia Financial Group Acquires Family Asset Management

By Amit Chowdhry ● Nov 10, 2024

Akron, Ohio-based Sequoia Financial Group — a wealth management firm with $21.5 billion in assets under management as of September 30, 2024 — and Family Asset Management (FAM), a Charleston, South Carolina-based investment advisory firm, announced that Sequoia Financial acquired FAM. The terms of the deal were undisclosed.

Diversify Advisor Network Onboards $215 Million Asset Teams

By Amit Chowdhry ● Nov 10, 2024

Diversify Advisor Network has announced the addition of two advisor teams during October: Michael McHugh and Griffin Wealth Partners.

Cyndeo Wealth Partners Onboards $200 Million FA Shawn Jiles

By Amit Chowdhry ● Nov 10, 2024

Cyndeo Wealth Partners announced that Shawn Jiles, CPFA, C(k)P, CRPS, CRPC has joined the firm as a Central Florida-based advisor managing about $200 million in assets.

Burling Reveals Wealth Management Firm With $750+ Million In AUM

By Amit Chowdhry ● Nov 10, 2024

Veteran wealth advisor Mark Resnik and investment manager Steven Resnik announced the launch of Burling Wealth Partners, which has over $750 million in assets under management. Based in Chicago, Burling is an innovative, independent wealth management firm dedicated to serving as a trusted partner for high-net-worth individuals and families.

Wealth Enhancement Group Buys $536 Million RIA M&R Capital Management

By Amit Chowdhry ● Nov 10, 2024

Wealth Enhancement Group - a national independent wealth management firm with over $96.6 billion in client assets - announced the acquisition of M&R Capital Management, an independent RIA in Summit, New Jersey. The team of three financial advisors and three support staff oversees over $536 million in client assets and is led by John Maloney, Chairman and Chief Executive Officer.

LPL Onboards $165 Million GWC Financial Team

By Amit Chowdhry ● Nov 10, 2024

LPL Financial announced today that financial advisor Michael Bernier, CFP, AIF, has joined LPL’s employee advisor channel Linsco by LPL Financial to launch GWC Financial Advisors. And he reported serving approximately $165 million in advisory, brokerage and retirement plan assets and joins LPL from Canter Wealth. He will operate from the Linsco office in San Diego.

Bison Brings In $450 Million Advisor James McTiernan

By Amit Chowdhry ● Nov 10, 2024

Bison Senior Managing Director and Partner is continuing a streak by onboarding James McTiernan, formerly a Principal at BNY Mellon Wealth Management, where he spent over 25 years. And throughout his career, Jim has used his understanding of the needs of his clients, such as high-net-worth individuals, retirees, and small business owners, to implement client-specific strategies and successfully construct investment portfolios to meet their needs. Before he departed from BNY, he managed over $450 million (AUM).

Evoke Advisors Buys Crescent Bay To Create Comprehensive RIA Family Office Firm

By Amit Chowdhry ● Nov 9, 2024

Evoke Advisors - a $25.3 billion registered investment advisory firm - announced the strategic acquisition of the business of Crescent Bay Advisors (CBA), a multi-family office. This acquisition will enhance Evoke's current service offerings and allow the firm to offer a full range of family office services to their clients, which include ultra-high net-worth families and individuals. This combined firm is headquartered in Los Angeles with additional office locations in Orange County, California, and West Palm Beach, Florida.

GoldenTree Asset Management: $599 Million CLO Under GLM Strategy Closed

By Amit Chowdhry ● Nov 7, 2024

GLM III, LP and its affiliated investment manager GoldenTree Asset Management LP announced the closing of a $599 million collateralized loan obligation (CLO) to be managed by GLM III.

Schwab Asset Management Launching Mortgage-Backed Securities ETF

By Amit Chowdhry ● Nov 7, 2024

Schwab Asset Management, the asset management arm of The Charles Schwab Corporation, announced today the launching of the Schwab Mortgage-Backed Securities ETF (listed as SMBS on NYSE Arca). The first trading day is expected to be on or about November 19.

EP Wealth Advisors: Acquisition Of Gather Financial Planning And Riley Private Client

By Amit Chowdhry ● Nov 6, 2024

EP Wealth Advisors, a leading fee-only RIA with an expanding national footprint and client base, announced the acquisition of Gather Financial Planning in Maine and Riley Private Client in Texas. These new firms—which join existing EP regions—will gain access to EP Wealth’s expansive offerings and growth strategies while adding over $240 million to its assets under management (AUM).

Aspen Standard Wealth Buying $2.8 Billion AUM RIA Summitry

By Amit Chowdhry ● Nov 6, 2024

Aspen Standard Wealth, a firm that serves as a permanent home and long-term partner for successful RIAs, announced that it has acquired Summitry, a leading registered investment adviser with $2.8 billion in assets under management (AUM).

Savvy Advisors Brings In Wealth Managers Craig Austad and Eric Passin

By Amit Chowdhry ● Nov 6, 2024

Savvy Advisors - a registered investment advisor (RIA) affiliated with Savvy Wealth - announced hiring two experienced wealth managers, Craig Austad, CLU, CFP, and Eric S. Passin.

LPL Onboards $800 Million Dougherty, Tedesco & Associates Advisors Team

By Amit Chowdhry ● Nov 4, 2024

LPL Financial announced that the financial advisors at Dougherty, Tedesco & Associates have joined LPL Financial’s broker-dealer, RIA and custodial platforms. And they reported serving about $800 million in advisory, brokerage and retirement plan assets, and join LPL from Osaic.

Raymond James Onboards $1.3+ Billion FA Melinda Johnston

By Amit Chowdhry ● Nov 3, 2024

Raymond James recently onboard financial advisor Melinda Johnston to the firm’s employee advisor channel Raymond James & Associates (RJA) in Fort Worth, Texas. Edward Sudzina, Western Gulf regional director for RJA, revealed this announcement.

Waverly Advisors Buys $1 Billion Advisory Firm 9258 Wealth Management

By Amit Chowdhry ● Nov 3, 2024

Waverly Advisors, a federally registered investment adviser (RIA) that specializes in investment management, financial planning and wealth management solutions for a diverse group of high-net-worth individuals, corporate retirement plans and institutional clients, acquired 9258 Wealth Management, an investment advisory firm and tax preparation and planning business headquartered in Cincinnati, Ohio. This partnership adds three Ohio-based office locations to Waverly’s growing footprint and $1 billion in assets under management (AUM).

Modern Wealth Buys $1.4 Billion RIA Petso Financial And Surpasses $6 Billion AUM

By Amit Chowdhry ● Nov 3, 2024

Modern Wealth Management—a registered investment advisory (RIA) firm founded to meet the evolving needs of today’s financial professionals and their clients—announced the acquisition of Boise, Idaho-based Petso Financial Consultants, a fee-only financial advisory firm with about $1.4 billion in assets under management (AUM). This deal is Modern Wealth’s eleventh acquisition to date and its sixth of the year, bringing its total AUM to over $6 billion.

Runway Growth Capital Combining With BC Partners Credit

By Amit Chowdhry ● Nov 1, 2024

Runway Growth Capital (a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity) and BC Partners Credit (the $8 billion credit arm of BC Partners, an approximately $40 billion assets under management alternative investment firm) announced a definitive agreement whereby BC Partners Credit will acquire Runway.

Realta Wealth: Abbey Eastham Named As Head Of Advisor Relations

By Amit Chowdhry ● Oct 30, 2024

Realta Wealth, an exclusive independent wealth management firm, announced the appointment of Abbey Eastham as Head of Advisor Relations. Reporting directly to CEO Kevin Keefe, Eastham will enhance the relationship between Realta and its network of elite independent financial advisors in this newly created role.

Altriarch: $70 Million In Commitments Raised From State of Wisconsin Investment Board

By Amit Chowdhry ● Oct 27, 2024

Private credit firm Altriarch Asset Management announced a $70 million commitment from the State of Wisconsin Investment Board (SWIB). This investment allocates $20 million for Altriarch's Specialty Finance Strategy, launched in August 2023. The strategy seeks to deploy capital through a network of secured finance operators across the US.

Citizens Onboards $600 Million Florida-Based Team

By Amit Chowdhry ● Oct 23, 2024

Citizens Financial Group announced that it is welcoming a new team of seasoned wealth advisors, led by Stephen LaForte and Jonathan Soto, as part of its ongoing strategy to accelerate wealth capabilities in key markets across the U.S. Based in Boca Raton, these senior advisors bring more than four decades of combined experience in wealth management and previously managed approximately $600 million in client assets. They specialize in customized wealth management solutions for high-net-worth and ultra-high-net-worth individuals, families, and businesses.

Cresset Buying CH Investment Partners, Bringing Firm To $62 Billion In Assets

By Amit Chowdhry ● Oct 19, 2024

Cresset Asset Management announced an acquisition of CH Investment Partners, a $6.2 billion multi-family office and private investment firm serving ultra-high-net-worth families. Through this acquisition, the integrated firm will manage more than $62 billion in assets for high-net-worth and ultra-high-net-worth families.

Kestra: Funds Managed By Stone Point Agrees To Buy Majority Interest In Parent Partnership

By Amit Chowdhry ● Oct 19, 2024

Kestra Holdings announced that funds managed by Stone Point Capital (a leading private equity firm focused on global financial services and related industries) has agreed to buy a majority interest in the parent partnership of the company, replacing current partner Warburg Pincus. Private equity firm Oak Hill Capital will remain a minority owner. And the Kestra Holdings management team and a large number of Kestra-affiliated financial advisors and Bluespring-affiliated principals will retain equity positions in the company. Bluespring Wealth Partners is the acquisition arm of Kestra Holdings.

MyFO: $3.5 Million (Seed) Raised For Transforming Family Office Management

By Amit Chowdhry ● Oct 18, 2024

MyFO, a fast-growing platform for family offices and the wealth management professionals who service them, announced the closing of its oversubscribed $3.5 million seed funding round, led by Rhino Ventures. The platform simplifies and organizes financial lives by creating a comprehensive family office platform consolidating data, documents, and stakeholder management. The new injection of funds will scale its operations to meet growing demand, enhance its product offerings, and expand its team.

LPL Onboards $340 Million Morristown Wealth Management And $685 Million Air Capital Teams

By Amit Chowdhry ● Oct 18, 2024

LPL Financial announced that it onboarded a couple of teams recently. This includes Morristown Wealth Management and Air Capital.

MAI Capital Management Onboards $1.2 Billion Halpern Financial Team

By Amit Chowdhry ● Oct 16, 2024

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

Family Office Resource Group Reveals Launch And Equity Investment From 4100FS

By Amit Chowdhry ● Oct 16, 2024

The Family Office Resource Group (FORG) officially announced its launch, along with a growth equity investment from 4100FS. FORG provides a comprehensive and white-labeled family-office solution to wealth management and professional services firms that want to meet the often complex and ever-growing needs of ultra-high-net-worth (UHNW) individuals and families.