In the January edition of the Registered Investment Advisor (RIA) & Broker-Dealer (BD) Roundup, FINTRX--your trusted source for AI-powered private wealth data intelligence--details the most notable advisor and team moves, M&A deals, and new firm launches that occurred throughout the month.
(Click to jump to the specific article)
Rep Movements
- Wells Fargo Advisors pulled $1.2B in Dallas from Citi Private Wealth
- RBC added $646M from Morgan Stanley to its Florida footprint
- Merrill recruited an $805M UBS team in Rhode Island
- Wells FiNet landed the $1.8B / $10.3M Infinity Private Wealth team from Merrill
- Morgan Stanley gained $822M in Boston—but lost $784M to Wells in Atlanta
- Wells FiNet picked up $1.3B from Commonwealth in NYC
- Wells added ~$800M from Merrill; UBS hired a $3.4M team from Morgan Stanley
- Raymond James pulled advisors from a ~$1B Merrill team in Maryland
- RBC added another $770M UBS team in Upstate New York
M&A Activity
- EP Wealth opened 2026 with $730M Capital Insight Partners
- Avior acquired $500M California RIA Protection Point Advisors
- Savant bought $498M APC Financial Planning
- Cerity Partners merged with SOL Capital Management
- Wealthspire added LA-based Ceres Financial Management
- Beacon Pointe acquired $2.7B Litman Gregory
- Creative Planning entered Switzerland with $1B Baseline Wealth Management
- Merit acquired $260M SSC Wealth
- Allworth expanded in Texas with $500M Grunden Financial Advisory
- Choreo returned to dealmaking with $1.3B across two Pennsylvania firms
- Corient added $767M Palo Alto Wealth Advisors
New Firm Launches
- A Raymond James team launched Cohen Capital Advisors in Chicago
Read on for more info...
$1.2B Citigroup Team Jumps to Wells Fargo
Wells Fargo Advisors continues to gain recruiting momentum with the addition of a $1.2 billion advisor team from Citigroup, strengthening its private client presence in Dallas. Veteran advisors Paul Cooke and Jake Trousdale, both former Citigroup directors with more than a decade at the firm, have joined Wells Fargo along with Debbie Cornwell, a senior manager from Citi’s private wealth division. The move adds to a broader trend of improving advisor retention and net inflows at Wells Fargo after several years of elevated attrition, as the firm leans into enhancements across its independent and employee advisor platforms.
→ The team managed $1.2B in client assets at Citigroup and brings over 12 years of experience at the firm.
→ Paul Cooke and Jake Trousdale join Wells Fargo’s Dallas-based private client group, accompanied by senior manager Debbie Cornwell.
→ The firm has notched several major recruiting wins recently, including a $1B Bank of America team and a $6.3B UBS team late last year.
→ Leadership credits improvements to Wells Fargo’s independent platform for helping stabilize advisor retention amid ongoing breakaways to RIAs and aggregators.
View Wells Fargo Advisors in FINTRX
RBC Snags Morgan Stanley Team Managing $646 Million in Florida
RBC opened the year with another notable recruiting win, adding a $646 million Morgan Stanley team to its Florida footprint. The Thomasco Group, led by veteran advisor Edward A. Thomasco II, joined RBC’s Palm Beach Gardens office, citing the firm’s ultra-high-net-worth capabilities and access to specialized planning, banking, and lending resources. The hire adds to RBC’s growing Florida presence amid aggressive wirehouse recruiting.
→ The Thomasco Group manages $646M in assets and is led by 35-year industry veteran Edward A. Thomasco II.
→ The team left Morgan Stanley to join RBC in Palm Beach Gardens, Florida, bringing two support staff members.
→ RBC has been actively recruiting from wirehouses, including $705M and $1.2B teams from Morgan Stanley and UBS in recent months.
→ The move comes ahead of a leadership change, with longtime RBC Wealth Management-U.S. president Tom Sagissor set to step down in early 2026.
Merrill Hires $805 Million UBS Team in Rhode Island
Merrill Lynch continued its recruiting push with the addition of an $805 million UBS Wealth Management USA team in Providence, Rhode Island, signaling sustained momentum after restarting experienced-advisor hiring. The Harbor Light Wealth Management group, led by Robert Procaccianti, Jared Tack, and Douglas Bennet, brings meaningful revenue production and deep industry tenure, including a notable “boomerang” return for Procaccianti, who began his career at Merrill. The move comes as Merrill leadership doubles down on advisor growth while UBS continues to navigate advisor attrition tied to compensation changes.
→ The $805M team, generating roughly $3.3M in annual revenue, is led by Robert Procaccianti, Jared Tack, and Douglas Bennet and joins Merrill’s Providence office with a client associate.
→ Merrill leadership has emphasized renewed recruiting as central to aggressive growth goals and historically low attrition.
→ UBS has faced elevated advisor departures, with at least 54 teams overseeing $51.8B leaving in 2025 following compensation changes.
Merrill Team With $1.8 Billion Jumps to Wells Fargo FiNet on Long Island
A $1.8 billion Merrill Lynch private wealth team has gone independent with Wells Fargo’s Financial Network (FiNet), marking another high-profile move toward the independent channel. The Infinity Private Wealth team, based in Melville, New York, is led by longtime advisors Gianluca Palermo and Nicholas Frangas and brings substantial scale, revenue, and headcount to FiNet. The transition highlights Wells Fargo’s continued success in attracting large, productive teams to its independent platform as industry growth increasingly shifts away from traditional wirehouse models.
→ Infinity Private Wealth managed $1.8B in client assets and generated $10.3M in annual revenue.
→ The team is led by Gianluca Palermo and Nicholas Frangas and includes six additional advisors and three support staff.
→ FiNet leadership emphasized the platform’s ability to pair independence with access to specialty wealth services and planning resources.
View Wells Fargo Advisors Financial Network in FINTRX
Morgan Stanley Adds $822M J.P. Morgan Team, Loses $782M Group to Wells
Morgan Stanley experienced another week of advisor churn, adding a sizable J.P. Morgan Advisors team in Boston while simultaneously losing a similarly scaled group to Wells Fargo Advisors in Atlanta. The move highlights the ongoing tug-of-war among wirehouses as firms compete for productive teams with specialized expertise, particularly in corporate stock advisory services. Meanwhile, Wells Fargo continues to build momentum across both its traditional brokerage and independent channels, reinforcing its position as a major beneficiary of advisor movement.
→ Morgan Stanley recruited the $822M Grande-Antonitis Group from J.P. Morgan Advisors to its Boston office.
→ The team is led by Mark R. Grande and includes veteran advisors Richard L. Grande and Alphonse Antonitis, along with two support staff.
→ In a simultaneous loss, Morgan Stanley saw the $784M East Lake Wealth Management team depart for Wells Fargo Advisors in Atlanta.
→ Wells continues to capitalize on wirehouse movement, adding billion-dollar teams across both its employee and independent platforms.
Wells FiNet Lands $1.3 Billion Team From Commonwealth in NYC
Wells Fargo Financial Network continued to benefit from post-acquisition advisor movement by adding a $1.3 billion team from Commonwealth Financial Network to its independent platform in New York City. KBK Wealth Management, which spent nearly two decades at Commonwealth, cited client-first priorities and the ability to maintain independence as key drivers of the move. The transition underscores the competitive scramble for Commonwealth advisors following its sale to LPL Financial, with Wells positioning FiNet as a major landing spot for large, high-producing teams.
→ KBK Wealth Management managed $1.3B in client assets and generated roughly $9.5M in annual revenue.
→ The six-advisor team, led by 40-year veteran Richard P. Kass, joins Wells Fargo Financial Network in New York City with eight support staff.
→ More than 500 Commonwealth advisors overseeing $54B+ in assets have exited since the firm’s sale to LPL Financial.
View Wells Fargo Advisors Financial Network in FINTRX
Wire Wars: Wells Nabs $4-Mln Merrill Team, UBS Adds $3.4-Mln Morgan Stanley Group
Recruiting battles among the wirehouses intensified again as Wells Fargo Advisors and UBS each pulled experienced teams from rivals, underscoring continued advisor movement despite claims of stabilizing attrition. Wells added a high-end Merrill private wealth trio in California overseeing roughly $800 million in assets, while UBS landed a $3.4 million–producing advisor and team from Morgan Stanley in the Pacific Northwest. The moves highlight how local leadership, platform breadth, and renewed recruiting focus are driving selective wins across firms.
→ Wells Fargo Advisors recruited a three-advisor Merrill private wealth team in Newport Beach, overseeing about $800M in client assets.
→ The group, led by Louis Berlin, Mark Hales, and Timothy Taraba, moved with two support staff after evaluating a transition for roughly a year.
→ UBS hired Bellevue-based advisor Jeffrey J. Miller, who produced $3.4M in annual revenue and managed roughly $600M at Morgan Stanley.
→ UBS has renewed its emphasis on experienced advisor hiring, including appointing Ben Firestein to lead national recruiting and retention.
View Wells Fargo Advisors in FINTRX | View UBS in FINTRX
Raymond James takes large chunk of Merrill team: Advisor Moves
Raymond James strengthened its employee-advisor channel by recruiting a significant portion of a well-known Merrill Lynch team in Maryland, underscoring continued wirehouse-to-wirehouse movement early in the year. At least five members of the Thrush-Thrift Group departed Merrill to join Raymond James & Associates, the firm’s employee channel, while the team’s senior leader remains in place at Merrill. The move highlights Raymond James’ growing appeal to experienced wirehouse advisors, particularly those seeking stability amid broader industry disruption tied to M&A and platform shifts.
→ Raymond James recruited at least five members of the Maryland-based Thrush-Thrift Group from Merrill Lynch.
→ Departing advisors Garrett Thrift, Blake Saulsbury, Wade Oursler, and Kara Burt were joined by client associate Blair Elizabeth Goodrich.
→ The Thrush-Thrift Group has been recognized by Forbes as a Best-in-State team in Maryland with roughly $1B in assets.
$770M UBS Team Jumps to RBC in Upstate New York
RBC continued its recruiting streak by pulling a $770 million UBS Wealth Management USA team into its Upstate New York footprint. The Creative Strategies for Modern Wealth Group joined RBC’s Syracuse office, adding further momentum to RBC’s recent success in attracting experienced wirehouse advisors. The move reinforces RBC’s positioning as a consistent destination for UBS and Morgan Stanley teams amid ongoing advisor churn across the wirehouse landscape.
→ The Creative Strategies for Modern Wealth Group managed $770M in client assets at UBS and joins RBC in Syracuse, New York.
→ The team is led by Michael S. Wirtheim, Ronald D. Scott, Nancy A. Collins, and Ronald J. Molinari, with three support staff.
→ The advisors bring deep industry tenure, with backgrounds spanning UBS, Morgan Stanley, PaineWebber, Smith Barney, and Key Investment Services.
EP Wealth Snaps Up Arizona RIA Managing $730 Million
EP Wealth Advisors kicked off 2026 with a new acquisition, purchasing Capital Insight Partners, a Scottsdale, Arizona–based RIA managing $730 million in assets. The deal brings both scale and leadership to EP Wealth’s Arizona presence, with Capital Insight co-founder Susan Anastasiadis stepping into a senior vice president role at the firm. The transaction continues EP Wealth’s steady expansion strategy following an active 2025 and reinforces its focus on regional growth through experienced advisory teams.
→ EP Wealth acquired Capital Insight Partners, a $730M Scottsdale-based RIA founded in 2008.
→ Co-founder Susan Anastasiadis joins EP Wealth as senior vice president following the transaction.
→ Capital Insight includes four advisors and five support staff and will integrate into EP Wealth’s Arizona region.
→ Former co-owner and CEO Steven T. Nelson has exited and is now solely registered with his own RIA.
→ EP Wealth manages roughly $40B in assets and completed nine acquisitions last year, backed by Berkshire Partners and Ares Management.
View EP Wealth Advisors in FINTRX
Avior Acquires Protection Point
Avior Wealth Management expanded its national footprint with the acquisition of Protection Point Advisors, adding both scale and advisor headcount to the firm. The transaction brings an eight-advisor team into Avior’s platform and strengthens its presence in California, while reinforcing Avior’s growth strategy through targeted RIA acquisitions. Financial terms of the deal were not disclosed.
→ Avior Wealth Management acquired Protection Point Advisors, adding eight advisors to Avior’s team.
→ Protection Point is a California-based RIA managing approximately $500M in assets.
→ Avior manages roughly $6B in assets and is headquartered in Omaha, Nebraska.
→ Turkey Hill Management served as the exclusive financial advisor to Protection Point.
View Avior Wealth Management in FINTRX
Savant Wealth Management Buys 50-Year-Old Tennessee RIA
Savant Wealth Management expanded its footprint in the Southeast with the acquisition of APC Financial Planning, a Knoxville, Tennessee–based firm with deep roots in the financial planning community. Founded in 1975, APC brings nearly five decades of planning-first culture and a seasoned leadership team, aligning closely with Savant’s long-term growth strategy. The deal reflects Savant’s continued momentum as it scales through culturally aligned acquisitions and positions itself for its next phase of expansion.
→ Savant acquired APC Financial Planning, a 50-year-old Knoxville-based firm managing $498M in assets.
→ APC was founded by P. Kemp Fain Jr. and is currently led by President Joe Ottaviano.
→ Both firms emphasized a shared planning-first philosophy as a key driver of the deal.
→ The acquisition marks Savant’s sixth RIA deal, with a robust pipeline spanning multiple deal sizes.
→ Savant manages over $37B in AUM and expects to surpass $50B as it continues geographic and platform expansion.
View Savant Wealth Management in FINTRX
Cerity Partners Announces Merger with SOL Capital Management
Cerity Partners expanded its Mid-Atlantic footprint with the merger of SOL Capital Management, a Maryland-based investment advisory firm focused on high- and ultra-high-net-worth clients. The transaction strengthens Cerity’s presence in the greater Washington, D.C. region while adding a seasoned investment team with nearly four decades of experience. SOL Capital will operate under the Cerity Partners name, aligning long-term client service philosophies while gaining access to broader resources and infrastructure.
→ Cerity Partners merged with Rockville, Maryland–based SOL Capital Management, adding a firm founded in 1987 with deep HNW and UHNW client expertise.
→ SOL Capital will operate under the Cerity Partners brand while maintaining continuity for existing clients.
→ Houlihan Lokey advised SOL Capital on the transaction, with Nelson Mullins serving as legal counsel.
View Cerity Partners in FINTRX
Wealthspire Advisors Acquires California RIA
Wealthspire Advisors continued its post-reconstruction expansion with the acquisition of Los Angeles–based Ceres Financial Management through its Ground Control Business Management entity. The deal adds specialized business management and wealth services for entertainment-industry clients, further building out Ground Control’s capabilities following Wealthspire’s recent restructuring and ownership transition. The move marks Wealthspire’s second acquisition since Madison Dearborn Partners’ buyout and reflects a targeted strategy to deepen niche expertise.
→ Wealthspire acquired Ceres Financial Management, a California-based RIA founded in 2008.
→ Ceres specializes in business management, wealth management, accounting, and estate planning for entertainment-industry clients.
→ The firm will be integrated into the Ground Control Business Management brand and operations.
→ Founder Craig Shenkler joins Ground Control as managing director, reporting to CEO Chris Bucci.
View Wealthspire Advisors in FINTRX
Beacon Pointe Acquires $2.7B RIA From Paris-Based Asset Manager
Beacon Pointe Advisors kicked off the year with a sizable acquisition, adding Litman Gregory Wealth Management after the firm’s exit from iM Global Partners’ ownership. The deal brings a well-established, multi-office RIA with deep high-net-worth expertise into Beacon Pointe’s platform, expanding its national footprint and further scaling its assets under advisement to approximately $61B.
→ Beacon Pointe acquired Litman Gregory Wealth Management, a $2.7B RIA founded in 1987.
→ Litman Gregory joins with its full 18-person staff and offices in Northern California and St. Louis, giving Beacon Pointe its first Missouri presence.
→ Litman Gregory’s seven managing directors are all moving over, with no departures.
→ Beacon Pointe is majority-owned by management, with KKR holding a minority stake since 2021.
Creative Planning Acquires $1B Swiss Wealth Manager
Creative Planning made its first completed European acquisition with the purchase of Switzerland-based Baseline Wealth Management, marking a major step in the firm’s international expansion. The deal brings a $1 billion, multi-jurisdictional wealth manager with deep cross-border expertise into Creative Planning’s platform and establishes the firm’s initial foothold in Switzerland. The acquisition signals a broader push to build a European presence anchored in local advisory teams rather than U.S.-based coverage.
→ Creative Planning acquired Baseline Wealth Management, a Swiss firm with about $1B in AUM and offices in Geneva and Zurich.
→ Baseline employs 14 professionals and is led by CEO Thierry Grin, formerly of UBS Wealth Management.
→ The firm serves athletes, entrepreneurs, and other HNW clients and offers planning, family office, pension, and impact investing services.
→ Creative Planning is majority-controlled by founder Peter Mallouk, with minority investments from TPG and General Atlantic.
View Creative Planning in FINTRX
$21B Merit Acquires Wealth Unit of Tax and Accounting Firm
Merit Financial Advisors opened the year with a strategic acquisition designed to drive both inorganic expansion and deeper organic growth. The firm acquired SSC Wealth, the advisory arm of Kansas-based SSC CPAs + Advisors, in a transaction that pairs wealth management with a long-term tax and accounting partnership. Rather than fully integrating tax services in-house, Merit is positioning the deal as a collaborative model aimed at strengthening client outcomes and referral-driven growth. This marks Merit’s first acquisition of 2026 and its 53rd deal since founding in 1998.
→ Merit acquired SSC Wealth, a $260M advisory team affiliated with SSC CPAs + Advisors in Topeka, Kansas.
→ Four advisors join Merit, including Bert Falley and Michele Hammann, who becomes a regional vice president and partner.
→ Hammann will also remain chief strategy officer of SSC CPAs + Advisors, supporting joint client engagement and referrals.
→ The deal creates a formal wealth–tax partnership while keeping SSC CPAs + Advisors 100% employee-owned.
View Merit Financial Advisors in FINTRX
Allworth Financial Acquires Grunden Financial Advisory, Expanding Its Footprint in North Texas
Allworth Financial continued its Texas expansion with the acquisition of Grunden Financial Advisory, a Denton-based wealth management firm overseeing $500 million in client assets. The deal deepens Allworth’s presence in North Texas and adds a multigenerational advisory team with strong local roots, aligning with the firm’s strategy of partnering with culturally aligned practices to build a scaled national platform. Grunden’s advisors will remain in place while gaining access to Allworth’s centralized resources and expanded planning capabilities.
→ Allworth acquired Grunden Financial Advisory, a $500M RIA with offices in Denton and Addison, Texas.
→ The six-person team includes three partner advisors: Ricky Grunden Sr., Dave Ragan, and Susy Thomas.
→ Grunden brings long-standing, multigenerational client relationships and deep North Texas market ties.
→ Clients gain access to Allworth’s national platform, including enhanced tax, estate, and investment resources.
→ Allworth manages roughly $34B in assets and has completed 45 acquisitions since 2018.
View Allworth Financial in FINTRX
Choreo to Buy Two Pennsylvania RIAs With $1.3 Billion Combined
Choreo returned to dealmaking with an agreement to acquire two Pennsylvania-based advisory firms overseeing a combined $1.3 billion in client assets. The transaction brings Northeast Financial Group and its affiliated RIA, Herbein Financial Group, into Choreo’s platform and reinforces the firm’s strategy of integrating wealth and tax expertise. The deal marks Choreo’s first RIA acquisition since 2023 and comes amid recent leadership changes aimed at reigniting growth.
→ Choreo agreed to acquire Northeast Financial Group and Herbein Financial Group, which together oversee $1.3B in client assets.
→ The firms are led by industry veteran Josh Laychock and employ 12 staff, including six advisors.
→ Herbein Financial Group was formed through a joint venture with an accounting firm, reflecting the tax–wealth integration trend.
Corient Strengthens West Coast Presence with the Addition of Palo Alto Advisory Business
Corient expanded its West Coast footprint with the acquisition of Palo Alto Wealth Advisors, a Silicon Valley–based RIA managing approximately $767 million in client assets. The deal strengthens Corient’s presence in California and deepens its expertise serving technology founders and entrepreneurs, a core client segment for the firm. The Palo Alto team has fully joined Corient, further scaling its partnership model and national platform.
→ Corient acquired Palo Alto Wealth Advisors, a California-based RIA with $766.7M in AUM.
→ The firm was founded by Ryan Schmidt and Nate Blair and focuses on technology professionals and their families.
→ The acquisition enhances Corient’s presence in Silicon Valley and broader California markets.
→ Palo Alto Wealth Advisors’ team has joined Corient’s partnership model, gaining access to expanded tax, trust, and family office services.
→ Corient manages roughly $218B in assets and has continued rapid national expansion since its 2020 founding.
Raymond James Breakaway Launches RIA in Chicago
A longtime Raymond James employee team in Chicago has gone independent, launching Cohen Capital Advisors as a new registered investment advisor. Led by managing partner Benjamin Cohen, the 10-person group cited the ability to select best-in-class custodial and technology partners as a key motivation for the move. The breakaway reflects the continued appeal of independence for established teams seeking greater control over infrastructure and client experience.
→ The Chicago-based team launched Cohen Capital Advisors after leaving Raymond James’ employee channel.
→ The 10-person group is led by Benjamin Cohen, with Michael Cohen serving as founding chairman.
→ The team managed roughly $1B in assets during its 12 years at Raymond James.
→ Fidelity and Schwab were selected as custodians for the new RIA.
→ The move emphasizes greater flexibility in technology, reporting, and planning while maintaining existing client relationships.