In the August 2026 edition of the Registered Investment Advisor (RIA) & Broker-Dealer Roundup, FINTRX — your trusted source for AI-powered private wealth data intelligence — details some of the most notable advisor team movements, M&A deals, and new RIA launches that occurred throughout the last month.
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$370M Janney Team Makes the Move to Ameriprise
Wells Loses $470M Team, Lands $400M Merrill Advisor
Cetera Lands $3.5B Osaic Team
$2B Merrill Team Jumps to Rockefeller
RFG Advisory Adds Two Utah Teams
$580M in Advisor Assets Exit Wells Fargo
Carson Lands $405M Northwestern Mutual Team
Cresset Recruits $4B UBS Team in Florida
Allworth Adds $1.1B Tax-Focused RIA
AlphaCore Makes $700M New Jersey Acquisition
Sequoia Acquires $796M All Star Financial
MAI Enters Atlanta With $490M Deal
Hightower Strikes $275M Pennsylvania Deal
$9B Balentine Adds Business Advisory Firm
$1.1B Wells Fargo FiNet Team Breaks Away to Launch RIA
Steinmetz Jackson Wealth Management Group, a Fort Lauderdale, Florida-based private wealth practice managing more than $370 million in client assets, has joined Ameriprise Financial’s branch channel from Janney Montgomery Scott. Led by private wealth advisor Kenneth Steinmetz and financial advisor James Jackson, the team made the move to strengthen its planning-focused approach through Ameriprise’s financial planning resources, integrated technology, and AI capabilities.
→ Steinmetz Jackson Wealth Management Group moved from Janney Montgomery Scott to Ameriprise Financial’s branch channel with more than $370 million in client assets.
→ Steinmetz brings more than three decades of industry experience, while Jackson has spent more than 20 years in financial services.
→ Ameriprise has added approximately 1,700 experienced financial advisors over the past five years and now has a nationwide network of more than 10,000 advisors.
Wells Fargo saw advisor movement in both directions in early August, losing the $470 million Krawec Wealth Management team to Raymond James while recruiting a $400 million private wealth broker from Merrill Lynch. The Ohio-based Krawec team, led by father-and-son advisors Teodore and Jordan Krawec, joined Raymond James’ employee channel, while 27-year industry veteran Felix Erbring left Merrill to join Wells Fargo in Austin, Texas.
→ The $470 million Krawec Wealth Management team left Wells Fargo for Raymond James & Associates, while $400 million advisor Felix Erbring moved from Merrill Lynch to Wells Fargo.
→ The Krawec team generated approximately $3 million in annual revenue, while Erbring produced approximately $3.7 million annually.
→ Raymond James’ depth of resources and non-bank ownership structure appealed to Krawec, while Wells Fargo’s flexible, customized recruiting offer helped attract Erbring.
Cetera Financial Group has added iTP Partners, a Pittsford, New York-based firm with nearly 50 advisors overseeing approximately $3.5 billion in assets under administration, from Osaic. As part of the transition, iTP launched Blue Horizon Equity, an independent RIA using Cetera’s Blueprint platform, giving the firm greater autonomy and infrastructure to support its next phase of growth.
→ iTP Partners moved from Osaic to Cetera Financial Group with nearly 50 advisors and approximately $3.5 billion in assets under administration.
→ As part of the transition, iTP launched Blue Horizon Equity, an independent RIA supported by Cetera’s Blueprint technology and services platform.
→ The move gives iTP additional infrastructure to scale its RIA model and recruit advisors and independent practices.
Rockefeller Global Family Office has recruited Jones Wealth Partners, a Merrill Lynch team overseeing approximately $2 billion in client assets and generating $14 million in annual revenue. The move brings the veteran Ohio-based practice to Rockefeller and expands the firm’s presence across the state.
→ Jones Wealth Partners is led by Sidney G. Jones, a 43-year industry veteran who spent his entire career at Merrill before making the move.
→ The group includes advisors Natalie Lariccia, Quinn and Liam Jones, Dominic Corso, and Stefanos Newman, along with eight support staff.
→ Rockefeller Global Family Office oversees approximately $224 billion in client assets as part of Rockefeller Capital Management.
RFG Advisory has added two new Utah practices formed by longtime B.O.S.S. Retirement Solutions advisors Brian Ward and Brandon Olson. After roughly a decade at the $1.3 billion firm, Ward launched Capstone Wealth in Sandy, Utah, while Olson established Olson Strategic Wealth in St. George. Both practices are affiliating with RFG’s nearly $8 billion RIA platform, gaining access to its technology, back-office, and transition resources while maintaining their independence.
→ Brian Ward and Brandon Olson left $1.3 billion B.O.S.S. Retirement Solutions to join RFG Advisory, launching Capstone Wealth and Olson Strategic Wealth, respectively.
→ Ward’s Capstone Wealth focuses on retirement planning for Utah families, drawing on his experience in investment management and financial planning.
→ Olson brings more than a decade of wealth management experience to Olson Strategic Wealth, along with a background in accounting and corporate leadership.
Two veteran advisory teams managing a combined $580 million in client assets have left Wells Fargo for Ameriprise Financial and Janney Montgomery Scott. Lee Winters III and Chris McClure, who managed approximately $160 million in Columbia, South Carolina, joined Ameriprise’s branch channel, while the $420 million Madura Private Wealth Group moved to Janney and established a new office in Lake Forest, Illinois.
→ Two Wells Fargo teams managing a combined $580 million moved to Ameriprise Financial and Janney Montgomery Scott in August.
→ Lee Winters III and Chris McClure joined Ameriprise with approximately $160 million in client assets, citing the firm’s integrated technology and collaborative advisor culture as key factors in the move.
→ The $420 million Madura Private Wealth Group, led by Daniel Madura, joined Janney with four team members and opened a new Lake Forest, Illinois, office.
Carson Group has expanded its Atlanta presence with the addition of Yari Capital, a five-person advisory practice managing approximately $405 million in assets. Led by founder and senior wealth advisor Kurt Mattson, the team joins Carson’s independent channel from Northwestern Mutual.
→ Yari Capital joined Carson Group’s independent channel from Northwestern Mutual with approximately $405 million in assets.
→ Yari Capital specializes in financial planning for executives, physicians, attorneys, business owners, and other high-earning professionals.
→ Mattson founded the practice around a planning-first model designed to address clients’ broader financial lives beyond investment management.
→ The Carson affiliation gives Yari access to additional technology and advanced planning resources while allowing the practice to maintain its independence.
Cresset has added a 16-person UBS wealth management team that previously managed approximately $4 billion in client assets, significantly expanding its presence in South Florida with a new Boca Raton office. Led by Michael Bober and Ed Ventrice, the team joins Cresset after 11 years at UBS and brings experience serving high-net-worth individuals, multigenerational families, business owners, and institutional clients.
→ The 16-person team left UBS for Cresset after managing approximately $4 billion in client assets, establishing a new Cresset office in Boca Raton, Florida.
→ The group is led by Michael Bober and Ed Ventrice, both former UBS managing directors, who spent 11 years at the firm before joining Cresset.
→ The team serves corporate executives, business owners, high-net-worth and multigenerational families, foundations, endowments, and professional athletes.
Allworth Financial, a Folsom, California-based RIA with $39 billion in client assets, has acquired Sachetta, a Lynnfield, Massachusetts-based wealth and tax advisory firm managing $1.1 billion in assets. The deal strengthens Allworth’s presence in the Boston market while adding a practice that integrates tax planning with wealth management. Allworth also announced the addition of Arthur Stein Financial, a Bethesda, Maryland-based RIA managing approximately $141 million.
→ Allworth Financial acquired $1.1 billion Sachetta and added $141 million Arthur Stein Financial, bringing approximately $1.24 billion in combined assets to the firm.
→ The Sachetta acquisition adds 21 professionals, including 13 wealth and tax advisors, and approximately 630 client households in the Boston area.
→ Allworth has completed 45 acquisitions since its first investment round in 2017 and now operates more than 40 offices nationwide.
AlphaCore, a La Jolla, California-based firm managing approximately $10 billion in assets, has acquired Brave Family Advisors, a Summit, New Jersey-based RIA overseeing $700 million. The acquisition marks AlphaCore’s second deal of 2026 and establishes a new Summit office as the firm builds its presence in the New York metropolitan area.
→ AlphaCore acquired $700 million Brave Family Advisors, marking its second acquisition of 2026 and establishing a new office in Summit, New Jersey.
→ Brave, led by founder Thomas Brett Haire and Scott A. Morrison, has an eight-person team serving approximately 330 individual households as well as retirement plans, charities, and businesses.
→ The deal follows AlphaCore’s acquisition of $1 billion Denver-based Elk River Wealth Management as the firm continues its geographic expansion.
Sequoia Financial Group has acquired All Star Financial, a Twin Cities-based independent wealth management firm with $796 million in assets under management and another $566 million in retirement plan assets under advisement. The deal expands the $34.9 billion RIA’s presence in the Upper Midwest while strengthening its in-house tax planning capabilities.
→ Sequoia acquired All Star Financial, adding $796 million in AUM and $566 million in retirement plan assets under advisement.
→ All Star’s 14-person team, including founder and CEO Robert Klefsaas, will join Sequoia, with its tax professionals becoming part of Sequoia Tax Services.
→ The acquisition builds on Sequoia’s Twin Cities expansion following its 2025 acquisition of Carlson Capital Management, which had more than $3.8 billion in client assets.
MAI Capital Management has acquired Waypoint Wealth Counsel, an Atlanta-based, fee-only RIA managing approximately $490 million in assets across more than 100 households. The acquisition marks MAI’s entry into the Atlanta market and adds a practice focused on affluent and ultra-high-net-worth clients, including entrepreneurs, business owners, executives, and multigenerational families.
→ MAI acquired $490 million Waypoint Wealth Counsel, which officially joined the firm on August 14, 2026, establishing MAI’s presence in the Atlanta market.
→ Waypoint was founded in 2014 by Brad McGrew and Matthew Woods, who will remain with the business as market leaders at MAI.
→ Waypoint gains access to MAI’s institutional family office platform, alternative investment sourcing, lending capabilities, and broader planning resources.
Hightower Advisors has agreed to acquire Valley Financial Group, a Pennsylvania-based RIA managing approximately $275 million in assets, as part of the continued expansion of its Hightower Signature Wealth platform. The 30-year-old Ambler-based practice will become part of Hightower’s integrated employee-advisor model, giving the team access to centralized resources while maintaining its existing client relationships and local presence.
→ Hightower Advisors agreed to acquire $275 million Valley Financial Group, with the firm’s employees joining Hightower Signature Wealth and remaining in its Ambler, Pennsylvania office.
→ Valley serves individuals, families, business owners, corporate employees, and first responders across the Philadelphia region and has operated for approximately 30 years.
→ Following the Valley addition, Hightower Signature Wealth is expected to oversee approximately $40 billion across more than 35 locations with over 160 advisors nationwide.
Balentine, an Atlanta-based wealth management firm advising on more than $9 billion in client assets, has acquired Valuation Growth Advisory (VGA), an Alpharetta, Georgia-based business advisory firm. The all-stock transaction expands Balentine’s Family Office Solutions platform with dedicated expertise for entrepreneurs and business owners navigating both their companies and personal wealth.
→ Balentine acquired Valuation Growth Advisory in an all-stock transaction, expanding the business advisory capabilities of its Family Office Solutions platform.
→ VGA founder Tom Matthesen joins Balentine as Head of Business Advisory, bringing more than 30 years of experience working with entrepreneurs and middle-market companies.
→ VGA specializes in helping business owners evaluate growth opportunities, strengthen enterprise value, and prepare for major strategic or ownership transitions.
→ The acquisition brings business advisory directly alongside Balentine’s existing wealth management, private capital, and family office capabilities.
A trio of Wells Fargo Advisors Financial Network advisors overseeing approximately $1.1 billion in client assets is breaking away to establish Pelorus Capital Management as an independent RIA in Irvine, California. Joseph Volz, Bill Hargrove, and Anne Norris, who have operated under the Pelorus name at FiNet, formed the new firm in August and plan to formally launch as an independent RIA in October.
→ Joseph Volz, Bill Hargrove, and Anne Norris formed Pelorus Capital Management, a new independent RIA, after managing approximately $1.1 billion through Wells Fargo FiNet.
→ The trio has been affiliated with Wells Fargo since 2016, when they joined from Merrill Lynch, and will remain with FiNet through October 19 before beginning advisory activities through the new RIA.
→ Pelorus plans to use TradePMR and Wells Fargo’s First Clearing for custody, clearing, and brokerage infrastructure as it transitions to independence.