In the July edition of the RIA & Broker-Dealer Roundup, FINTRX - your trusted source for private wealth data intelligence - details the most notable advisor and team moves, M&A deals, and new firm launches throughout the month.
Quick Hitters: Recent Developments in Wealth Management
(Click to jump to the specific article)
Rep Movements
- Ameriprise adds $480M UBS breakaway team, reuniting with Q5 Wealth
- Raymond James recruits $700M+ in assets from UBS and Morgan Stanley
- NewEdge Advisors lands $650M Stifel team
- AmeriFlex hires $280M team post-Osaic split
- Savvy Wealth adds 13+ advisors and $270M Minneapolis team
- RBC picks up $1.7B UBS team in NY
- Raymond James adds $1.1B+ Ameriprise team
- UBS makes leadership hires across NYC, Boston, CT, and Florida
M&A Activity
- Apella buys $207M IWA, extending its D.C. hub
- Focus Partners Wealth consolidates $5.6B Bordeaux
- True North enters Bay Area with $353M Blue Investment
- NorthRock makes largest move of 2025 with $800M Parkside Advisors
- Bluespring merges Hickory and RDFA into $865M firm
- Creative Planning acquires $430M Mosaic Pacific
- Steward Partners adds $1.1B Consilium and Simplex
- Lido Advisors brings in $850M Olympus Wealth
- Summit Financial takes minority stakes in four RIAs
New Firm Launches
- Odyssey Group debuts in PA with $316M team from Commonwealth post-LPL deal
- Laurel Oak Wealth launches with $2.3B breakaway; 49 Financial and Centurion also make moves
- Ducere Wealth forms post-First Foundation exit
Read on for more info...
Rep Movements
Ameriprise Welcomes $480 Million Ex-UBS Team
A Texas-based advisory team overseeing more than $480 million in assets has joined Ameriprise Financial’s independent channel after departing UBS Financial Services. The group, comprised of Chuck Heare, Ross Heare, Tommy Goth, and Jennifer Goth-Castillo, was formerly known as Goth Heare Wealth Management Group. They’ve now aligned with Q5 Wealth Management, a firm that also transitioned from UBS to Ameriprise in 2024. The two teams had a longstanding working relationship at UBS and will now continue their collaboration under the Ameriprise umbrella. The move reflects Ameriprise’s ongoing advisor recruitment strategy, which has brought in approximately 1,700 advisors over the past five years.
→ The Goth Heare Wealth Management Group, managing $480M+, joined Ameriprise’s independent channel from UBS.
→ They aligned with Q5 Wealth Management, a fellow UBS breakaway that made the switch to Ameriprise in 2024.
→ The team includes two sets of family duos, father-son and father-daughter, along with a client service assistant who also made the move.
→ Ameriprise continues to be a magnet for advisor transitions, with 1,700 new advisors joining in the last five years.
View Full Profile in FINTRX
Raymond James Recruits 4 Advisors Managing More Than $700M
Raymond James has added two prominent advisor teams managing a combined $700 million+ in client assets from UBS and Morgan Stanley. Jonathan Israel, formerly with UBS for 14 years and managing over $400 million, joined Raymond James & Associates in Woodland Hills, CA, where he leads Legacy Point Wealth Management. Client service associate Jake Balcom joins him. Separately, a family trio from Morgan Stanley, Jerald Seebol and daughters Andrea Smithers and Stephanie Lesso, joined the firm’s Jacksonville, FL, office under the new Seebol Wealth Advisors brand. Both teams cited Raymond James’ supportive culture and client-focused platform as key reasons for the move.
→ Jonathan Israel left UBS to launch Legacy Point Wealth Management under Raymond James, bringing over $400M in client assets, marking a multi-generational transition.
→ A Florida-based family trio from Morgan Stanley joined Raymond James with $314M+ in assets
→ The Seebol team includes over 60 years of combined industry experience and focuses on comprehensive financial and estate planning.
View Full Profile in FINTRX
NewEdge Advisors adds $650m Stifel team
NewEdge Advisors has recruited a $650 million advisory team from Stifel, marking its first office in Nebraska. The newly formed group, Cleartrek Wealth Partners, is led by co-founders Loy Olson, Matt Olson, Mike Todd, and Mitch Bergen, and comprises a total of seven professionals based in Lincoln. Loy Olson, a nearly 50-year industry veteran, emphasized the cultural alignment between Cleartrek and NewEdge’s client-first philosophy. The team will custody assets with Goldman Sachs and join NewEdge Advisors as independent contractors under the broader EdgeCo Holdings umbrella, which is backed by Parthenon Capital and Waterfall Asset Management.
→ Cleartrek Wealth Partners brings $650M in AUM and expands NewEdge Advisors’ footprint into Nebraska for the first time.
→ The leadership team includes four co-founders with deep experience, notably Loy Olson, who has 48 years in the industry.
→ The team transitioned from Stifel and chose to affiliate with NewEdge for its client-centric and collaborative model.
→ Cleartrek will custody client assets with Goldman Sachs, underscoring a high-net-worth service approach.
→ NewEdge Advisors operates under EdgeCo Holdings, which is PE-backed and designed to support independent advisory practices.
View Full Profile in FINTRX
Osaic breakaway AmeriFlex hires $280m team from BD
Hybrid RIA The AmeriFlex Group has made its first advisor recruitment since parting ways with Osaic as its broker-dealer, onboarding Summit Financial & Insurance Services, a Brea, California-based firm overseeing $280 million in client assets. Summit was also previously affiliated with Osaic and is led by Jerry Kleber, Raz Bracha, and Leah Pattison. This transition highlights AmeriFlex’s appeal as a truly independent, advisor-owned platform. AmeriFlex, which recently aligned with Cambridge Investment Research, anticipates continued recruiting momentum following the split from Osaic, a firm currently undergoing executive shakeups and broader restructuring.
→ Summit Financial’s addition marks AmeriFlex’s first post-Osaic recruitment, bringing $280M in AUM and three lead advisors.
→ The move reflects rising demand for advisor-owned, flexible affiliation models, a key draw of AmeriFlex’s structure.
→ AmeriFlex projects onboarding 30 advisors with a combined $3B in assets by year-end 2025.
→ The firm now partners with Cambridge Investment Research after leaving Osaic to avoid consolidation risks.
→ Osaic is navigating major internal shifts, including leadership turnover and its $13.5B acquisition of CW Advisors.
View Full Profile in FINTRX
Savvy recruits $270m Minneapolis wealth team, 12 other advisors
Savvy Wealth, parent company of $2 billion RIA Savvy Advisors, has continued its aggressive growth trajectory just weeks after closing a $72 million Series B funding round. The firm added over a dozen advisors, including the Minneapolis-based team Perspective 6 Wealth Advisors, which manages $270 million in client assets and specializes in serving professionals in the medtech space. Additional hires came from institutions like Cambridge, Merrill Lynch, Truist, and PNC, with several RIA advisors also joining. CEO Ritik Malhotra highlighted the importance of sustainable growth and advisor referrals in building the firm’s nationwide presence. However, Savvy’s recruiting success has also drawn legal challenges, with ongoing lawsuits from Mercer and Mariner Wealth Advisors over alleged trade secret violations.
→ Savvy added 13+ advisors and acquired $270M Perspective 6 Wealth Advisors from Focus Financial Network.
→ Recent recruits came from major firms including Cambridge, Merrill Lynch, Truist, PNC, Valeo, and Cornerstone.
→ The Series B funding round brought in $72M and board participation from former LPL CEO Mark Casady.
→ Ongoing lawsuits from Mercer and Mariner Wealth Advisors allege trade secret theft tied to recent advisor departures.
View Full Profile in FINTRX
RBC Poaches $1.7B New York Team from UBS
RBC Wealth Management has recruited Hudson River Wealth Management, an eight-member team managing $1.7 billion in client assets, from UBS to its Westchester, NY, branch. The team includes seasoned advisors Steven Solomon and Lauren Konstantin, alongside several senior associates and client service professionals. This move continues a broader RBC trend of attracting high-performing teams from UBS and other major firms, particularly those focused on serving ultra-high-net-worth clients. RBC executives emphasized the firm’s culture, flat management structure, and direct leadership access as key differentiators driving the ongoing advisor momentum.
→ Hudson River Wealth Management’s $1.7B move marks RBC’s latest win from UBS, reinforcing its East Coast growth strategy.
→ The eight-member team brings deep experience and UHNW client expertise, with leaders previously at UBS, Deutsche Bank, and Morgan Stanley.
→ RBC continues to recruit top-tier talent nationwide, including $1.1B+ teams from UBS in June and a $5B team from JPMorgan in April.
→ RBC’s new Westchester branch, launched in late June, is quickly emerging as a strategic hub for advisor expansion.
View Full Profile in FINTRX
Raymond James Adds $1.1B New York Team From Ameriprise
Raymond James has added a seven-advisor team managing over $1.1 billion in client assets to its independent advisor channel. The Valhalla, NY-based group, previously with Ameriprise Financial, has split into three separate practices: QuantumView Wealth Management, led by Jak Cukaj and Neal Siena; Camilleri Wealth Management, led by Charles Camilleri; and a new practice launched by Brigitte Davison and Lilibeth Miranda. These practices will serve a range of clients from high-net-worth families to business owners and women investors. This move underscores Raymond James' continued expansion and support of advisor independence.
→ The $1.1B+ team left Ameriprise to join Raymond James' independent advisor channel, forming three distinct practices.
→ QuantumView Wealth focuses on HNW and multi-generational families, while Camilleri Wealth targets business owners and executives.
→ Davison’s new practice emphasizes personalized planning for women investors and pre-retirees.
→ The transition adds to Raymond James’ growing network of 8,800 advisors and $1.58T in client assets.
View Full Profile in FINTRX
UBS Makes Raft Of Wealth Hires Along East Coast
UBS has announced a series of strategic wealth management appointments across several key U.S. markets, including New York City, Boston, Connecticut, and Florida. The additions reflect the firm’s continued investment in regional leadership and advisor expansion. Among the new hires is J Mills-Pierre III, who joins as a financial advisor in Manhattan. UBS also promoted veteran executive Kathleen Ferraro to market director for its Greenwich and Stamford offices, and brought on Christopher Brolly as an advisor in Boston. Additionally, Jack Heiss has been named market director for the Tampa region.
→ J Mills-Pierre III joins UBS as a financial advisor in NYC, operating out of the 299 Park Avenue office.
→ Kathleen Ferraro is appointed market director for Greenwich and Stamford, bringing 30+ years of industry experience.
→ Christopher Brolly joins as a financial advisor in Boston, reporting to senior leadership in UBS's Greater New England market.
→ Jack Heiss will become market director in Tampa, further strengthening UBS’s presence in Florida.
View Full Profile in FINTRX
M&A Activity
Apella acquires $207m Washington, D.C. RIA
Apella Wealth has completed its fourth acquisition of 2025, acquiring Washington, D.C.-based Independence Wealth Advisors (IWA), a $207 million RIA led by founder and sole advisor Kathleen Duffy. The deal extends Apella’s footprint in the greater D.C. region, complementing a prior acquisition in Reston, Virginia, and advancing its “hub-and-spoke” market expansion strategy. This acquisition marks Apella’s 12th since September 2021 and its 22nd overall, as the $6 billion RIA continues its aggressive growth backed by Wealth Partners Capital Group and HGGC. Apella leadership emphasized cultural alignment and shared client service philosophies as core drivers behind the partnership.
→ The $207M IWA acquisition strengthens Apella’s presence in Washington, D.C., serving as a spoke to its Reston, VA, hub.
→ Founder Kathy Duffy will join Apella as a partner and senior advisor; her contractor will remain in place post-deal.
→ This marks Apella’s fourth acquisition of 2025 and its 12th since receiving backing from WPCG and HGGC.
→ Apella has completed 22 acquisitions since its 2014 launch, including major 2024 deals in Pennsylvania and Iowa.
View Full Profile in FINTRX
Focus Partners Wealth buys $5.6bn Bordeaux Wealth Advisors
Focus Partners Wealth, the largest firm within the Focus Financial Partners network, has announced its acquisition of Bordeaux Wealth Advisors, a Focus affiliate managing approximately $5.6 billion in assets. The deal bolsters Focus Partners Wealth’s presence in key West Coast markets, including Silicon Valley and Seattle. Bordeaux, based in Menlo Park, CA, has been part of the Focus network since 2017 and will maintain its client service model and leadership under CEO Tom Myers. The acquisition is part of a broader consolidation strategy backed by private equity firm Clayton, Dubilier & Rice (CD&R), which took Focus private in 2023 and is building out a series of centralized "hub" firms.
→ Bordeaux Wealth Advisors, led by Tom Myers, is one of the largest Focus affiliates to be consolidated under the Focus Partners Wealth umbrella.
→ The deal is part of CD&R’s strategic plan to streamline Focus Financial into a network of core “hub” firms.
→ Focus Partners Wealth, now managing ~$140B, was formed by merging The Colony Group and Buckingham Strategic Wealth in 2024.
→ CD&R’s consolidation push follows its $7B acquisition of Focus Financial, signaling continued private equity influence in the RIA space.
View Full Profile in FINTRX
True North Advisors buys $353m Bay Area RIA
Private equity-backed RIA True North Advisors has announced its first acquisition of 2025, acquiring Blue Investment Partners, a $353 million AUM firm based in Danville, California. Blue, founded in 2018 by managing partners Matt Dublin and Brett Hoover, serves ultra-high-net-worth families and institutional clients. The deal closed on June 30 and represents True North’s first entry into the San Francisco Bay Area and its second California location overall. The acquisition aligns with True North’s broader national expansion strategy, supported by Wealth Partners Capital Group (WPCG) and HGGC, which invested in the Texas-based RIA in early 2024.
→ Blue Investment Partners brings $353M in AUM and expands True North’s footprint into the SF Bay Area.
→ Founders Brett Hoover and Matt Dublin were sole owners and operators before the acquisition, serving ~80 UHNW and institutional clients.
→ It’s the second deal since WPCG and HGGC backed True North, tasked with accelerating the firm’s inorganic growth strategy.
→ True North now operates across multiple markets, including Texas, New Jersey, and two key locations in California.
View Full Profile in FINTRX
NorthRock adds $800m Bay Area RIA
NorthRock Partners has made its largest acquisition of 2025 with the addition of Parkside Advisors, an $800 million RIA based in Berkeley, California. The deal expands NorthRock’s growing presence in the Bay Area, adding to existing offices in San Francisco and San Rafael. Parkside, led by Charlie Benziger and Audrey Grubman, will retain all nine team members under the NorthRock brand. The acquisition reflects a strategic push to provide advisors with greater resources and growth opportunities while enhancing the firm’s ability to deliver fully integrated advice to clients. Backed by Sammons Financial Group, NorthRock continues to selectively pursue M&A opportunities focused on long-term cultural fit.
→ Parkside Advisors adds $800M in AUM and strengthens NorthRock’s Bay Area footprint with a new Berkeley office.
→ All nine Parkside team members, including founders Benziger and Grubman, will remain onboard post-acquisition.
→ NorthRock’s M&A strategy emphasizes patient, advisor-led growth rather than PE-mandated roll-ups.
→ The firm’s partnership with Sammons Financial allows for “PE-level” deal flexibility without the pressure of rapid consolidation.
→ NorthRock now serves over 2,800 clients nationally and is actively eyeing expansion into markets like NYC, Florida, and the Midwest.
View Full Profile in FINTRX
Bluespring merges two Ohio practices, creating $865m firm
Bluespring Wealth Partners has merged two of its Ohio-based network firms, Hickory Asset Management and Ritter Daniher Financial Advisory (RDFA), to create a combined $865 million advisory practice. The move, partly driven by succession planning, will see Hickory fold into RDFA while retaining its name until 2026. Hickory founder Dan LeScoezec plans to retire next year, while RDFA managing partner John Ritter will lead the combined team. The merger aims to enhance scalability and client service, and it adds to Bluespring’s busy 2025 dealmaking streak, which already includes acquisitions in Wisconsin and Kentucky.
→ The merger of Hickory and RDFA forms an $865M advisory firm and supports succession planning for retiring Hickory founder Dan LeScoezec.
→ Both teams will maintain their identities and operations in the short term, with Hickory operating under its name until 2026.
→ Bluespring, backed by Kestra Holdings and Stone Point Capital, continues to consolidate firms under a strategic, long-term growth model.
Creative Planning Acquires Mosaic Pacific, Strengthening Hawaii Presence
Creative Planning has acquired Mosaic Pacific, a Hawaii-based advisory firm managing approximately $430 million in assets, marking its thirteenth acquisition in two years. The deal closed on June 30, 2025, and expands Creative Planning’s presence in the Pacific region. Founded in 2014, Mosaic Pacific built its reputation on delivering unbiased investment management paired with holistic financial planning. Both firms emphasized a strong cultural and philosophical alignment as a key driver of the transaction, which enhances client service while offering expanded resources and capabilities through Creative Planning’s broader platform.
→ Mosaic Pacific adds $430M in AUM and strengthens Creative Planning’s reach in Hawaii and the broader Pacific region.
→ The firm, led by Chief Investment Strategist Cory Nakamura, shares a comprehensive, client-first approach to financial planning.
→ The deal represents Creative Planning’s 13th acquisition in two years, underscoring its aggressive strategic growth.
→ Mosaic clients gain access to expanded services, including estate, tax, trust, and family office planning.
View Full Profile in FINTRX
Steward Partners buys $1.1bn Cali RIA
Steward Partners has acquired Consilium Wealth Management, a Danville, California-based RIA managing $1.1 billion in assets, marking its largest addition so far in 2025. The deal was made through Steward’s Legacy division, which supports succession planning and strategic growth for wealth management teams. Led by CEO John Seo, Consilium serves more than 150 high-net-worth clients, most with portfolios exceeding $10 million. Seo and his 10-person team, including affiliated firm Simplex Wealth Management, will join Steward as partners. This acquisition further expands Steward’s West Coast presence and highlights the firm’s ongoing commitment to growing through targeted, high-caliber partnerships.
→ The acquisition brings $1.1B in AUM and Steward’s largest team addition of 2025 to date.
→ John Seo, former CEO and principal owner of Consilium, joins Steward alongside his 10-person team.
→ Steward Partners, managing over $40B in assets, remains majority employee-owned and is backed by The Cynosure Group and The Pritzker Organization.
View Full Profile in FINTRX
Lido Advisors snaps up $850m Utah RIA
Lido Advisors has acquired Olympus Wealth Management, an $850 million RIA based in Cottonwood Heights, Utah, expanding Lido’s footprint into the Salt Lake City metro area. Olympus, founded in 2013 and led by Scott Poelman, Scott Bird, and Matt Krull, serves high-net-worth and ultra-high-net-worth clients through comprehensive planning, investment management, and multi-family office services. The 18-person team joins Lido’s growing national platform, which now oversees $33.5 billion in AUM. The acquisition follows a string of recent Lido deals, backed by new strategic investor HPS Investment Partners, and reflects the firm’s continued push for scale through targeted partnerships.
→ Olympus Wealth brings $850M in AUM and deep multi-family office expertise to Lido’s expanding nationwide platform.
→ The Utah office will serve as a key regional hub for Lido, enhancing its presence in the Intermountain West.
Olympus marks Lido’s fourth major acquisition in as many months, joining firms in Michigan, Arizona, and Silicon Valley.
→ Lido’s leadership continues to steer the firm post-investment, with HPS acquiring roughly 50% economic interest by Q3 2025.
View Full Profile in FINTRX
Summit Financial Adds Four Firms With $1.2-Bln Combined
Summit Financial, a $20 billion AUM New Jersey-based RIA, has made minority investments in four advisory firms collectively managing $1.2 billion in assets. The deals, completed through Summit’s Growth Partners program, allow the RIAs to maintain their branding and majority ownership while gaining access to Summit’s resources and scale. The newly affiliated firms include Everest Consultants in New York ($633M AUM), LPF Advisors in Florida ($277M), Heritage Wealth Partners in Ohio ($176M), and a New Mexico-based team led by Thomas and Vicki Crow, managing $143M. These additions bring Summit’s total number of affiliated practices to 46 and reflect its continued expansion strategy backed by Merchant Investment Management.
→ Everest Consultants, the largest of the four, serves 370 households and over 100 institutional clients from Syracuse, NY.
→ LPF Advisors switched from Osaic to Summit and cited expanded growth capabilities as a key reason for the move.
→ Heritage Wealth Partners, managing $176M, joined in May to accelerate its growth trajectory under Summit’s platform.
→ A three-person team in Albuquerque, NM, led by husband-wife duo Thomas and Vicki Crow, joined with $143M in assets.
→ Summit has now completed 11 minority investments in 2025 and is targeting $100B in AUM by 2029.
View Full Profile in FINTRX
New Firm Launches
Pennsylvania Duo Managing $316-Mln Leaves Commonwealth to Launch RIA
Two Pennsylvania-based advisors, Aaron Sherman and Stephen “Drew” Kavanaugh, have broken away from Commonwealth to launch their own independent RIA, Odyssey Group Wealth Advisors, in Lancaster. Managing approximately $316 million in assets, the duo had worked together at Commonwealth since 2018 and earned recognition as top advisors in the state by Forbes. Joining them is Christian Pascuzzo, formerly with Commonwealth and RKL Wealth Management, as Director of Financial Planning. Odyssey will use Altruist as its custodian and target high-net-worth clients with $1M+ in investable assets. The move comes amid heightened advisor movement following LPL Financial’s $2.7 billion acquisition of Commonwealth.
→ Odyssey Group Wealth Advisors was launched by a $316M team from Commonwealth amid LPL’s recent acquisition of the IBD.
→ Founders Aaron Sherman and Drew Kavanaugh were ranked among Forbes’ Best-in-State advisors for four consecutive years.
→ Christian Pascuzzo also joined as Director of Financial Planning, bringing RIA and brokerage experience.
→ The firm will custody with Altruist and charge between 0.4%–1% AUM fees, per its ADV filing.
View Full Profile in FINTRX
RIA moves: $2.3B Ameriprise team launches own RIA firm in New Jersey
A high-profile breakaway team managing more than $2.3 billion has launched Laurel Oak Wealth Management, an independent RIA based in New Jersey. The five-person team includes Christopher Heiser, Robert Andreacchio, Louis LaSelva, Matthew Fitzgerald, and Keith Radimer, seasoned advisors who emphasized the desire for client-first, customized planning as a key driver of the move. Meanwhile, 49 Financial, a $1.5 billion Texas-based RIA, recruited former Ameriprise executive Scott Neils as EVP of Growth. Separately, Centurion Wealth Management acquired Metrics Money Management in Virginia, with founder Dennis Campbell joining the Centurion team.
→ Laurel Oak Wealth Management was formed by a five-person breakaway team from Ameriprise, managing $2.3B+ in assets.
→ 49 Financial hired former Ameriprise exec Scott Neils to lead growth and advisor development across its 150+ advisor network.
→ Centurion Wealth Management expanded in Virginia through its acquisition of Metrics Money Management, strengthening its tax planning capabilities.
→ Despite departures, Ameriprise reported a 6% YoY rise in net revenue and $1.08T in client assets, with advisor productivity reaching record highs.
View Full Profile in FINTRX
Father-Son Duo Leave $5.4B Bank Wealth Division to Form RIA
A father-son team has departed First Foundation Bank’s $5.4 billion private wealth division to launch Ducere Wealth, a fee-only RIA based in Newport Beach, California, with a satellite office in Las Vegas. Founded by Zane Keller and his father, Rick Keller, the new firm starts with just over $100 million in AUM and aims to scale to $1 billion within a year. Emphasizing bias-free, personalized financial advice, Ducere plans to grow organically by nurturing homegrown advisors rather than through aggressive recruiting. The firm will custody with Schwab and leverage a flexible, multi-custodial tech stack as it builds its platform for long-term growth.
→ Ducere Wealth was launched by Zane and Rick Keller after exiting First Foundation’s private wealth division.
→ The firm begins with $100M+ in AUM and targets $1B in growth within 12 months, focusing on alternative investments and education.
→ Unlike aggregators, Ducere aims to preserve the RIA spirit by offering independent, conflict-free advice and advisor equity participation.
→ The firm will custody with Schwab and has partnered with tech provider JIFFY.ai and financial marketing firm Intention.ly.
View Full Profile in FINTRX
Want full access to detailed profiles on these firms? Schedule a demo of FINTRX today.
.png?width=171&height=47&name=Navy%20and%20blue%20fintrx%20logo%20(1).png){kind=small}
.png?width=367&height=109&name=ezgif.com-gif-maker%20(3).png)