Mergers & Acquisitions

Summit Financial: $420 Million Asset Acquisition Of Three Leading Advisory Firms

By Amit Chowdhry ● Dec 1, 2024

Summit Financial, an investment advisory firm with over 40 years of experience providing market-leading, multi-family office services that enable financial advisors to accelerate growth, announced that advisors from three firms - Southeast Financial Group (SEFG), Radiance Private Wealth, and Silvertree Retirement Planning - have joined its network. Summit’s partnership model Summit Growth Partners (SGP) has strategically invested in SEFG, Radiance, and Silvertree, elevating its total strategic investments to 16 for the year.

LPL Financial Brings In $250 Million RIA Happier Wealth Team

By Amit Chowdhry ● Dec 1, 2024

LPL Financial announced that financial advisors Will Beck, CFP, Mike Macfarlane, CASL, CLU, ChFC, Tyler Vongsawad, CLU, ChFC, CASL, CFP, MSFS, and Sam Rosen, CFP, have joined LPL Financial’s broker-dealer, RIA, and custodial platforms to launch a new independent practice, Happier Wealth. They reported having served about $250 million in advisory, brokerage, and retirement plan assets and joining LPL from Northwestern Mutual.

Cetera Brings In $300 Million FA Bart Schulte

By Amit Chowdhry ● Dec 1, 2024

Cetera Financial Group, a premier financial advisor Wealth Hub, announced that Bart Schulte has joined Cetera Investment Advisers. Schulte is utilizing Cetera's growing RIA Blueprint platform to support his exclusive advisory business as an investment adviser representative. He will have access to the resources and support provided through the Cetera Advisors community. And he oversees approximately $300 million in assets under management (as of August 31, 2024) and previously managed client portfolios for nearly seven years in his latest role in his 24-year financial services industry career.

Modera Wealth Management Buying $467 Million Firm Bay Point

By Amit Chowdhry ● Dec 1, 2024

Modera Wealth Management - a fee-only comprehensive financial planning firm with $12.5 billion in assets under management (as of September 2024) - announced its acquisition of Bay Point Wealth, a registered investment adviser firm with offices in Annapolis and Stevensville, Maryland, and $467 million in assets under management (as of September 2024).

Raymond James Brings In $190 Million Advisors In Vancouver, Washington

By Amit Chowdhry ● Nov 29, 2024

Raymond James Financial Services (RJFS) Western division director Bill Counsman announced that the firm has welcomed financial advisors Brian Harmon and David Brown to the firm’s independent advisor channel.

CAPTRUST Acquires $5 Billion Boston-Based RIA

By Amit Chowdhry ● Nov 29, 2024

CAPTRUST Financial Advisors recently announced the addition of Boston Financial Management (BFM). This firm adds nearly $5 billion of client assets, an additional location in Boston, and two new locations in Cape Cod, Massachusetts, and Portland, Maine.

Osaic Onboards $180 Million Nova Wealth Team

By Amit Chowdhry ● Nov 29, 2024

Osaic - one of the nation's largest wealth management platforms - announced the addition of Nova Wealth, an independent wealth manager based in Buffalo, N.Y., with $180 million in client assets under administration.

Waverly Advisors Acquires $900 Million Ohio-Based Buckingham Team

By Amit Chowdhry ● Nov 28, 2024

Waverly Advisors - a federally registered investment adviser (RIA) that specializes in investment management, financial planning, and wealth management solutions for a group of high-net-worth individuals, corporate retirement plans, and institutional clients - announced it had acquired Buckingham Advisors, an investment advisory firm based in Dayton, Ohio.

Commonwealth Brings In $550 Million Client Assets Team Diversified Capital Management

By Amit Chowdhry ● Nov 28, 2024

Commonwealth Financial Network, a national RIA focused on providing financial advisors with holistic, integrated business solutions, announced that Syracuse, New York-based Diversified Capital Management (DCM) joined its network of independent financial advisors. The firm’s advisors include William Kriesel, CPA, CFP, PFS, Kevin Visconti, CFP, and George Nardone, ChFC, AIF. Previously with Cadaret Grant and its acquirer, LPL Financial, the DCM team reported advising on more than $550 million in client assets.

LPL Brings In $540 Million Advisors Ryan Kirby And Michael Alvarez

By Amit Chowdhry ● Nov 28, 2024

LPL Financial announced that financial advisors Ryan Kirby, CFP, and Michael Alvarez have joined LPL Financial’s broker-dealer, RIA and custodial platforms, aligned with existing firm Seapoint Wealth Advisors (Seapoint). Kirby and Alvarez reported serving approximately $540 million in advisory, brokerage and retirement plan assets, and they join LPL from U.S. Bank.

Helen Of Troy To Buy Olive & June In $240 Million Deal

By Amit Chowdhry ● Nov 27, 2024

Helen of Troy—a designer, developer, and worldwide marketer of branded consumer home, outdoor, beauty, and wellness products—announced that it has entered into a definitive merger agreement to buy Olive & June's business.

Pepsi Buying The Remaining 50% Stake In Sabra And Obela

By Amit Chowdhry ● Nov 27, 2024

PepsiCo announced its agreement to acquire the remaining 50% interest in Sabra Dipping Company and PepsiCo-Strauss Fresh Dips & Spreads International GmbH (Obela) and become the sole owner of these companies, which make Sabra and Obela products.

ONEOK Buying Remaining Shares Of EnLink In $4.3 Billion Deal

By Amit Chowdhry ● Nov 27, 2024

ONEOK and EnLink Midstream announced that they have executed a definitive merger agreement under which ONEOK will acquire all of the outstanding publicly held common units of EnLink for $4.3 billion in ONEOK common stock.

Bitwise Buying Attestant, An Ethereum Staking Provider With $3.7 Billion In Staked Assets

By Amit Chowdhry ● Nov 26, 2024

Bitwise Asset Management has announced the acquisition of Attestant Limited, an institutional-grade Ethereum staking provider with $3.7 billion in staked assets. This acquisition expands Bitwise’s suite of investor solutions to include non-custodial staking, ETPs, hedge fund solutions, private funds, and separately managed account strategies.

LPL Onboards $350 Million Strata Financial Group Team

By Amit Chowdhry ● Nov 25, 2024

LPL Financial announced that financial advisors Anthony “Tony” Campagni, CFP, Ronald Jurczynski, CPA/PFS, Mitchell Romeo, CPWA, CPFA, Kyle Hancharick, CFP, and Dominic Elmo of Ohio-based Strata Financial Group have joined LPL Financial’s broker-dealer, RIA and custodial platforms. The advisors reported serving more than $350 million in advisory, brokerage and retirement plan assets, and they join LPL from Osaic.

AeroVironment Buying BlueHalo In $4.1 Billion Deal

By Amit Chowdhry ● Nov 25, 2024

AeroVironment and BlueHalo announced the execution of a definitive agreement under which AV will acquire BlueHalo in an all-stock transaction with an enterprise value of approximately $4.1 billion, creating a more diversified global leader in all-domain defense technologies. This company will combine complementary capabilities to offer a comprehensive portfolio of high-growth franchises powered by sophisticated technology and focused on addressing the nation's and allies' most critical priorities and needs worldwide.

Apollo Funds Buying Majority Stake Of The State Group

By Amit Chowdhry ● Nov 25, 2024

Apollo announced that funds associated with its Impact and Clean Transition strategies have acquired a majority stake in The State Group (TSG) from Blue Wolf Capital. Blue Wolf will retain a minority stake in the business, along with existing management shareholders.

Morgan Stanley Capital Partners Buying Pet And Human Supplements Company FoodScience

By Amit Chowdhry ● Nov 25, 2024

Investment funds managed by Morgan Stanley Capital Partners (MSCP), a middle-market focused private equity team at Morgan Stanley Investment Management, announced it acquired FoodScience from Wind Point Partners, which is a vertically integrated provider of pet and human nutritional supplements. Sharon Rossi will continue as FoodScience’s Chief Executive Officer.