In the July 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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Wealth Enhancement Snags Two Teams from Shufro Rose with $1.3B in Assets
Billion-Dollar Truist Team Joins Wells FiNet Practice Merritt Point in Florida
Cetera Financial Adds $300M Tennessee RIA
Concurrent Adds $700M Maryland RayJay Team
NewEdge Advisors Wins Over Ex-RayJay Team in Colorado
Wealth Consulting Group Recruits $600M Mariner Affiliate
Raymond James Snags $5.5B Comerica Team in California
&Partners, Janney Recruit Raymond James Teams Managing $824 Million
Raymond James Adds $1 Billion Team From Stifel
Clearstead Acquires $5.1B Advisory Team to Lead New Philadelphia Office
Aspen Standard Strikes Deal for $1.3Bn Michigan RIA
Wealth Enhancement Buys $1.3Bn RIA WealthShield Partners
Choreo Buys $700M RIA, Eyes Pre-IPO Firms After SpaceX Coup
Caprock Buys Austin-Based Venturi Private Wealth, Adds $4 Billion AUM
Corient Merges in $450M RIA for Country Musicians
Arax To Acquire $3 Billion RIA Transcend Capital Advisors
$6Bn Commonwealth Affiliate Bartholomew & Company Launches RIA
$1Bn Northwestern Mutual Team Launches RIA with Altruist's Support
Wealth Enhancement Group is expanding its New York presence through the acquisition of the Kaminsky-Silverman Group, a women-led advisory team from Shufro Rose that manages approximately $554 million in client assets. The team is led by Tonia Kaminsky and Barbara Silverman, who will join Wealth Enhancement as managing directors and financial advisors.
→ Wealth Enhancement Group is acquiring the Kaminsky-Silverman Group from Shufro Rose, adding approximately $554 million in client assets.
→ The team is led by Tonia Kaminsky and Barbara Silverman, who will join Wealth Enhancement as managing directors and financial advisors.
→ The acquisition expands Wealth Enhancement's presence in the New York City market and adds a long-established, women-led advisory practice to the firm.
→ The deal is part of Wealth Enhancement's ongoing M&A strategy, as the firm continues to grow through acquisitions of established RIAs and advisory teams.
A $1 billion advisory team led by Mark Elliott, Scott Friedman, Darren Dawson, John Kent, and John Henry Kent left Truist Wealth Management to join Merritt Point Wealth Advisors, an established independent practice affiliated with Wells Fargo Advisors Financial Network (FiNet). The Palm Beach Gardens-based team, which generated approximately $5.2 million in annual revenue, cited a desire for greater independence while maintaining access to banking and lending capabilities. According to Merritt Point co-founder and executive chairman Ross Bauer, supported independence is increasingly attractive because advisors can focus on serving clients while leveraging Merritt Point's operational, compliance, technology, and marketing infrastructure.
→ The $1 billion Truist Wealth Management team joined Merritt Point Wealth Advisors, a Wells FiNet-affiliated independent practice.
→ The team produced approximately $5.2 million in annual revenue and transitioned with two support staff after seeking greater flexibility while retaining banking and lending resources.
→ Before the addition, Merritt Point had 24 advisors managing roughly $4 billion in client assets and is backed by Merchant Investment Management, continuing its expansion by recruiting established advisory teams.
Marmo Financial Group, a Johnson City, Tennessee-based RIA managing approximately $300 million in assets across 620 clients, has joined Cetera Financial's employee-advisor RIA division, Cetera Planning Partners. Founded by principal advisor Scott Marmo, the eight-person team will remain in its existing office while transitioning to W-2 employees under the Cetera brand. Marmo said the move followed a months-long evaluation, citing Cetera's culture and integrated service platform—including in-house estate planning, legal, and CPA services—as key factors in the decision.
→ Marmo Financial Group, led by founder and principal advisor Scott Marmo, joined Cetera Planning Partners with approximately $300 million in assets under management and 620 client relationships.
→ The firm's eight-person team will continue operating from its Johnson City, Tennessee office as W-2 employees under the Cetera brand.
→ Cetera Planning Partners, formed through the combination of Avantax Planning Partners and The Retirement Planning Group, oversees approximately $19 billion in assets and continues to expand through strategic acquisitions.
Concurrent Investment Advisors has recruited Potomac Financial Group, a Beltsville, Maryland-based advisory team managing approximately $700 million in assets, from Raymond James after nearly two decades with the firm. Led by managing partner Todd Wike, a former NFL player, Potomac joins Concurrent along with six additional advisors and support staff. The move marks Concurrent’s second Raymond James team recruitment of 2026 and brings the company’s total advisor additions for the year to 31.
→ Potomac Financial Group, led by managing partner Todd Wike, oversees approximately $700 million in assets and has been affiliated with Raymond James for roughly 20 years.
→ Advisors Lanta Evans, Kevin Pinto, Deborah Kelly, Brian Krawiec, Bradley Schell, and Gregory Wilkinson, along with their support staff, are joining Concurrent.
→ Concurrent CEO and co-founder Nate Lenz had a longstanding relationship with Wike dating back to his time at Raymond James, where he led the succession and acquisitions group from 2011 to 2016.
→ Potomac elected to receive a minority investment from Concurrent to support future inorganic growth.
NewEdge Advisors has recruited Tipton Weber Wealth Management, a Colorado-based advisory practice that had been affiliated with Raymond James for approximately two years. Founded in 2024 by Elizabeth Tipton Weber, the Cortez-based practice formally joined NewEdge Advisors on July 2, bringing a team that serves individuals, families, retirees and business owners with financial and retirement planning, portfolio management, business succession planning and exit strategies. The move represents another recruitment win for NewEdge Advisors over Raymond James, following the platform’s addition of $519 million Wealth Strategies Partners in December, as NewEdge continues to expand its independent advisor network.
→ Tipton Weber Wealth Management was founded by Elizabeth Tipton Weber and includes three client service associates; the firm did not disclose its assets under management.
→ The practice joined NewEdge Advisors after approximately two years affiliated with Raymond James.
→ NewEdge Advisors was co-founded by CEO Alex Goss in 2015 and provides independent advisors with back-office infrastructure, technology, compliance and operational support.
→ NewEdge supports more than 450 advisors overseeing approximately $34 billion in brokerage and advisory assets, while parent company NewEdge Capital Group reported more than $100 billion in client assets as of March 31.
The Wealth Consulting Group (WCG), a hybrid RIA and LPL Financial affiliate, has recruited Empathic Wealth Partners, a seven-person San Ramon, Calif.-based team overseeing more than $600 million in assets. Led by founder Stuart Arakelian, Empathic had been affiliated with Mariner Advisor Network since 2016 and is now transitioning to WCG following Mariner’s sale of the platform to LPL Financial and Private Advisor Group. Arakelian cited his prior relationship with WCG president Andy Kalbaugh, as well as opportunities for organic growth, stronger alignment with LPL and future succession or dealmaking opportunities, as key reasons for the move. The firm recently expanded through the $110 million acquisition of an East Bay practice owned by Jeff Gall, who is also joining Empathic in its transition to WCG.
→ Empathic Wealth Partners oversees more than $600 million in total assets, including approximately $500 million through LPL Financial and another $100 million across Fidelity, Charles Schwab and fixed annuities.
→ Empathic was previously affiliated with Mariner Advisor Network and will now use WCG as its RIA and office of supervisory jurisdiction (OSJ) while remaining an LPL affiliate.
→ Las Vegas-based WCG is led by founder and CEO Jimmy Lee and oversees approximately $6.3 billion in client assets.
The Capital Reserve Group, a $5.5 billion team formerly affiliated with Comerica, has moved to Raymond James’s employee channel in Newport Beach, California. The team, which reportedly generated approximately $6 million in annual revenue, is led by Cory J. Matsumoto, Genae A. Affrunti and Rey L. Carandang, who joined Raymond James alongside support staff Julia Bica and Brian Toyama. The move comes as Comerica advisors transition following the bank’s sale to Fifth Third and the shift of its brokerage and custody relationship from Ameriprise Financial to Fifth Third’s in-house platform.
→ The Capital Reserve Group manages approximately $5.5 billion in assets and reportedly generated $6 million in annual revenue.
→ The team’s departure follows Comerica’s sale to Fifth Third and the ongoing transition of Comerica advisors from Ameriprise Financial’s platform to Fifth Third’s in-house brokerage and custody platform.
→ Raymond James has been actively recruiting experienced advisors on the West Coast, including a $1.2 billion team from Royal Bank of Canada’s City National Bank, and reported its second-best recruiting quarter on record in Q1 2026.
Two Raymond James teams managing $824 million in combined assets have moved to &Partners and Janney Montgomery Scott. The larger move involved the five-person Fisette & Kim Financial Services team, led by Hyon Yong “Ethan” Kim and Scott W. Milam, which managed $524 million and joined &Partners from Raymond James Financial Services in Washington state. The team also includes advisors Brady Jowell and Matthew J. Zager and will custody assets with Fidelity. Separately, the $300 million Ginsburg Private Wealth team, led by Keith Ginsburg with support staff member Karla Avecillas, left Raymond James’ employee channel to join Janney in Miami.
→ Fisette & Kim Financial Services managed $524 million and moved from Raymond James Financial Services to &Partners.
→ Advisors Brady Jowell and Matthew J. Zager had joined the Fisette & Kim practice after Kim and Milam moved to Raymond James from Key Bank in 2020.
→ Ginsburg Private Wealth managed $300 million and moved from Raymond James’ employee channel to Janney Montgomery Scott in Miami.
→ &Partners has grown to 117 practices overseeing $58 billion in assets, while Janney has recruited at least three teams in 2026 managing nearly $2.4 billion combined.
A four-advisor team managing over $1 billion in client assets at Stifel has joined Raymond James Financial Services , where it will operate as KWM Wealth Advisory. Led by Kenneth A. Sanchez, the team also includes Lee Wolfe, Mitchell Kauffman and KaNoi Lam, and is based in Pasadena, CA, with an additional office in Honolulu. The team is supported by nine financial services professionals and provides wealth management and financial planning services to a range of clients, including families, business owners, corporate executives, individuals, pre-retirees and retirees. The move adds another sizable advisor group to Raymond James' independent channel as the firm continues to attract established teams seeking an independent platform.
→ KWM Wealth Advisory's four advisors—Kenneth A. Sanchez, Lee Wolfe, Mitchell Kauffman and KaNoi Lam—previously managed more than $1 billion in client assets at Stifel.
→ KWM provides wealth management and financial planning services to families, business owners, corporate executives, individuals, pre-retirees and retirees.
→ Kauffman and Lam are Certified Financial Planner professionals, while the team brings decades of combined industry experience, including more than 40 years for Kauffman and more than 28 years for Lam.
Clearstead Advisors acquired a Philadelphia-based wealth management team from myCIO Wealth Partners, expanding its national footprint and strengthening its capabilities in high-net-worth wealth management, retirement plan consulting, and tax services. The nine-person team, led by Paul Bracaglia and including senior advisors Phil Bonelli, Michael Finelli, Bruce Fenster, and Jackson Davey, brings approximately $2.6 billion in regulatory assets under management and $2.7 billion in additional assets under advisement. Following the transaction, the advisors become Clearstead partners, increasing the firm's total client assets to approximately $68 billion while advancing its acquisition strategy backed by private equity firm Flexpoint Ford.
→ Clearstead acquired a Philadelphia-based myCIO Wealth Partners team led by Paul Bracaglia, with Phil Bonelli, Michael Finelli, Bruce Fenster, and Jackson Davey joining as partners.
→ The team manages approximately $2.6 billion in regulatory AUM and advises on an additional $2.7 billion in assets, serving high-net-worth individuals, families, and retirement plans.
→ Brad Knapp, CEO of Clearstead, said the deal aligns with the firm's disciplined growth strategy, while myCIO Senior Partner David Lees said the transaction allows both organizations to focus on their respective strategic priorities.
Aspen Standard Wealth has acquired CWS Financial Advisors, a Kalamazoo, Michigan-based RIA overseeing approximately $1.3 billion in client assets, expanding the private equity-backed acquirer’s growing portfolio of wealth management firms. CWS was owned and led by principals Joe Splendorio, Lindsey Splendorio and Cory Wietfeld, who became independent in 2018 after leaving Wells Fargo Advisors. The deal marks another major acquisition for Aspen Standard, which was founded in 2024 with backing from Alpine Investors and has continued to target growth-oriented RIAs while allowing acquired firms to maintain their independent operations and separately report their assets.
→ CWS Financial Advisors oversees approximately $1.3 billion in client assets and has offices in Kalamazoo, Michigan, and Alamo, California.
→ CWS was led by principals Joe Splendorio, Lindsey Splendorio and Cory Wietfeld and has roots dating back to 1983; the firm became independent in 2018 after the trio left Wells Fargo Advisors.
→ Aspen Standard Wealth is backed by private equity firm Alpine Investors and has rapidly expanded through acquisitions, including $1 billion BlueSky Wealth Advisors in March and several other RIAs in 2025.
→ Aspen Standard CEO Aly Kassim-Lakha leads the firm, while Kevin DiSano, a former Beacon Pointe executive, recently joined as president; Turkey Hill Management advised CWS on the transaction.
Wealth Enhancement has acquired WealthShield Partners, a Cary, NC-based RIA with approximately $1.3 billion in client assets founded by Robert Leggett in 2013. While the deal has not been formally announced, Wealth Enhancement’s website indicates that the firm has welcomed multiple WealthShield teams, including The Emerald Group, led by Leggett, and the Madison Oaks Team, led by Scott Lord, Kenneth Bollinger and Stuart Gay. The transaction adds to Wealth Enhancement’s ongoing expansion through acquisitions and team recruiting, following its recent addition of two teams from Shufro, Rose & Co. The $158 billion firm is led by CEO Jeff Dekko and backed by private equity firms TA Associates and Onex Corporation.
→ Wealth Enhancement acquired Cary, N.C.-based WealthShield Partners, which had approximately $1.3 billion in client assets and was founded by Robert Leggett in 2013.
→ Leggett joined Wealth Enhancement as senior vice president of The Emerald Group, alongside vice president Michael Helms, advisor Vicki Handley Araj and two client support staff.
→ The Madison Oaks Team, formerly affiliated with WealthShield's corporate RIA platform, also joined Wealth Enhancement and is led by senior vice presidents Scott Lord, Kenneth Bollinger and Stuart Gay.
Choreo acquired Wilmette, Ill.-based Resource Financial Group (RFG), a $700 million RIA led by founding partner Peter Maris and partner Brian Pugal, bringing the firm's total assets added through acquisitions in 2026 to roughly $2 billion. The eight-person RFG team, which serves specializes in business transitions, liquidity events and retirement planning, was particularly attractive to Choreo because of its CPA relationships, client niche and organic growth track record. The deal comes as Choreo CEO Jason Van de Loo continues to accelerate the firm's M&A strategy while expanding CPA partnerships and investing in AI-driven technology. Choreo is also looking to capitalize on its recent relationship current and former SpaceX employees following the company's IPO, with plans to pursue similar opportunities among employees of other high-profile pre-IPO technology companies such as Anthropic and OpenAI.
→ Choreo acquired $700 million RIA Resource Financial Group (RFG), an eight-person team led by founding partner Peter Maris and partner Brian Pugal.
→ The acquisition brings Choreo's total assets added through M&A in 2026 to roughly $2 billion, following its acquisitions of Northeast Financial Group, Herbein Financial Group, and Insight Wealth Strategies.
→ Choreo CEO Jason Van de Loo highlighted RFG's CPA relationships, focus on business owners and families, ensemble team structure and track record of organic growth as key factors behind the deal.
Caprock has acquired Austin-based Venturi Private Wealth, adding approximately $4 billion in assets and nearly 30 employees, including 10 advisors. The deal expands Caprock’s presence in Austin and Oklahoma City and brings Venturi’s team and clients onto the Caprock platform, where they will gain access to broader family office resources, investment capabilities and a national advisory team. Founded in 2015, Venturi serves entrepreneurs, executives and multigenerational families and has expanded its offerings to include family governance, wealth education, advanced planning and CFO services. Upon closing, Venturi will operate under the Caprock brand, while co-founder and CEO Russ Norwood and Oklahoma City office leader Joey Sager will become managing directors at Caprock.
→ Caprock acquired Venturi Private Wealth, adding approximately $4 billion in AUM and nearly 30 employees.
→ Venturi’s team and clients will join Caprock, with the firm operating under the Caprock brand and platform following the deal’s closing.
→ Venturi co-founder and CEO Russ Norwood and Oklahoma City office leader Joey Sager will become managing directors at Caprock.
→ Berkshire Global Advisors, led by partner Bomy Hagopian, served as Venturi’s exclusive financial advisor; DLA Piper advised Venturi, while Stoel Rives advised Caprock.
Corient has merged in Music Row Wealth Management (MRWM), a Nashville-based $450 million RIA that primarily serves songwriters, performers, and other professionals in the country music industry. Founded in 2017 by James Hackney, a former Northwestern Mutual wealth advisor, MRWM will join Corient’s sports and entertainment group, expanding the acquirer’s specialized capabilities for entertainment-industry clients. The firm, which is principally owned by Hackney, Suzanne Salter, and Laura Davis, sought a partnership with Corient to access a broader range of services and the resources of a larger organization. Boston-based investment bank Colchester Partners, led on the deal by managing director Brian Lauzon, represented MRWM and facilitated the introduction to Corient.
→ Music Row Wealth Management manages approximately $450 million in assets and serves a client base consisting almost exclusively of country music songwriters and performers, along with other entertainment professionals.
→ The RIA was founded in 2017 by James Hackney, a former Northwestern Mutual advisor, and is principally owned by Hackney, Suzanne Salter, and Laura Davis. The team also includes advisor Cynthia Durdin.
→ MRWM will become part of Corient’s sports and entertainment group, with the firm seeking expanded services and the resources of a larger organization to strengthen its impact on the community it serves.
Arax Advisory Partners has signed a definitive agreement to acquire Transcend Capital Advisors, a registered investment advisor managing more than $3 billion in assets, in a deal expected to close in the third quarter of 2026. Founded in 2019 by former New York Stock Exchange CEO Duncan Niederauer and a group of partners, Transcend is headquartered in Madison, New Jersey, with additional offices in Michigan, Rhode Island, and Florida. The acquisition will make Transcend the seventh firm to join Arax in 2026 and further expands the platform's national wealth management footprint. Arax, led by CEO Haig Ariyan and backed by RedBird Capital Partners, now oversees approximately $43 billion in assets.
→ Transcend Capital Advisors manages more than $3 billion in assets and was founded by Duncan Niederauer, who currently serves as vice chairman, along with a group of partners.
→ Brian Gorczynski serves as CEO of Transcend and said the firm was attracted to Arax because of its leadership and ability to support the firm's continued growth.
→ Arax CEO Haig Ariyan previously led Alex. Brown, a unit of Raymond James Financial, and Arax has also recruited large advisor teams from national brokerage firms, including a $1.5 billion Wells Fargo Advisors team in May.
Corient is expanding its presence in New York through the acquisition of Seven Bridges Advisors, a $4.9 billion registered investment advisor and multi-family office founded by Larry Cohen. The transaction strengthens Corient's capabilities serving entrepreneurs, founders, financial services executives, and ultra-high-net-worth families, while continuing the firm's aggressive acquisition strategy in 2026. Upon closing, the Seven Bridges leadership team will become Corient Partners, with Corient CEO Kurt MacAlpine highlighting the firm's specialized expertise and collaborative approach as a strong strategic fit.
→ Corient is acquiring Seven Bridges Advisors, a New York-based RIA and multi-family office with approximately $4.9 billion in assets under management.
→ Seven Bridges was founded by Larry Cohen, who said Corient's partnership structure and collaborative model were key factors in the decision.
→ Corient CEO Kurt MacAlpine said the addition of the Seven Bridges team expands the firm's expertise serving entrepreneurs, founders, technology executives, and other wealthy clients with complex financial needs.
→ The acquisition continues Corient's rapid expansion strategy, growing its global platform of more than 300 partners, 2,700 employees, and approximately $535 billion in client assets.
Bartholomew & Company, a $6 billion Commonwealth Financial Network affiliate, has launched a new registered investment adviser (RIA), Bartholomew & Company Wealth Management, as the firm expands its independent wealth management offering. The firm is led by CEO and President John Bartholomew, with the new RIA structure designed to provide greater flexibility and customization for clients while maintaining the resources and support of its existing Commonwealth relationship.
→ Bartholomew & Company oversees approximately $6 billion in client assets and has launched Bartholomew & Company Wealth Management as a new RIA.
→ The firm is led by CEO and President John Bartholomew, who is part of the Bartholomew family that founded and operates the business.
→ Bartholomew & Company has been affiliated with Commonwealth Financial Network, which continues to provide support and resources to the firm.
→ The new RIA structure is intended to give the firm greater flexibility in how it manages client relationships and delivers wealth management services.
Civic Financial, a Boston-based advisory practice led by CEO Scott DeSantis, has left Northwestern Mutual to launch as an independent RIA with support from Altruist. The team, which managed approximately $1 billion in assets at Northwestern Mutual, is co-owned by DeSantis alongside President Grant Parisi, COO Nick Allsop and Partner Daniel Monaghan. DeSantis said the practice grew organically from $50 million to $1 billion between 2020 and 2026 through client referrals and without acquisitions. Civic Financial has selected Altruist as its custodian and technology provider and plans to use the firm's Hazel AI platform for workflow automation and tax planning, while remaining focused primarily on organic growth with potential M&A opportunities in the future.
→ Civic Financial is led by CEO Scott DeSantis and co-owned by Grant Parisi, Nick Allsop and Daniel Monaghan.
→ The Boston-based team previously oversaw approximately $1 billion in assets at Northwestern Mutual before launching its independent RIA.
→ DeSantis said the practice grew from $50 million to $1 billion between 2020 and 2026 through organic growth and client referrals, with no acquisitions.