RIA & Broker-Dealer Roundup: June '26 Moves, M&A Deals & New Launches

Telos Private Wealth Brings $300M Advisory Team to Arkadios
Cetera Adds Advisor Practices in Texas, Arizona and Florida
LPL Nets $1.5Bn Dallas Practice from MassMutual
Osaic Welcomes Signature Private Wealth Management from Wells Fargo Advisors Financial Network
&Partners Recruits $1.6B in Advisor Teams
Citizens Builds Private Wealth Momentum in Southern California
$8 Million UBS Team Returns to Morgan Stanley in Miami
Merrill Lynch Adds $460M UBS Team in Tennessee

M&A Activity

MAI Buys $734M Dallas RIA
Modern Wealth Buys $1.1Bn LPL-Affiliated RIA
Waverly Advisors Acquires WealthPlans and Cooley & Associates
Mission Wealth Merges with $866M Seattle-Area RIA
Modera Adds $312M Florida RIA in First Deal of 2026
Waverly Buys $3Bn Pittsburgh Trust Company
PE-Backed Maridea Enters Florida with RIA Buy

New Firm Launches

Wells Team Launches $1Bn Dynasty-Backed Wealth Business
LPL Financial Welcomes Align Private Wealth
Valen Private Capital Latest Merrill Breakaway to Join Sanctuary Wealth
$3.5B UBS Private Wealth Team Breaks Away to Launch San Francisco RIA
LPL Financial Welcomes $160 Million Firm NorthStar Wealth Advisors
$1.9B Ameriprise Team Launches RIA With Sanctuary’s Tru Independence

Advisor & Team Movements

Telos Private Wealth Brings $300M Advisory Team to Arkadios

Telos Private Wealth has transitioned nearly $300 million in assets under advisement to independent broker-dealer Arkadios Capital, marking another significant recruiting win for the fast-growing platform. Led by Managing Partner and Head Matt Lemen, the Alabama-based team left Private Client Services in pursuit of greater independence and a business model more closely aligned with its long-term growth strategy and client-first approach. The move continues Arkadios' strong recruiting momentum, with the firm adding more than $750 million in assets over a six-week period while expanding its presence by attracting established advisory teams from competing platforms.

→ Telos Private Wealth transitioned nearly $300 million in client assets to Arkadios Capital.
→ The Birmingham, Alabama-based team is led by Matt Lemen and includes partners Billy Haskins and Ken Azar, serving clients throughout the Southeast.
→ The team cited a desire for greater independence and alignment with its long-term vision and clients' best interests as the primary reason for the move.

Cetera Adds Advisor Practices in Texas, Arizona and Florida

Cetera Financial Group expanded its independent wealth platform this week with the addition of three advisory practices across Texas, Arizona, and Florida, reflecting continued recruiting momentum amid industry consolidation. The firm welcomed newly launched Yach Advisors, Tom Tourek, a veteran advisor who joined Wilde Wealth Management Group after leaving JP Morgan Securities, and Honeycomb Wealth Advisors. Honeycomb's move was driven in part by the acquisition of Commonwealth Financial Network by LPL Financial, highlighting how broker-dealer consolidation continues to influence advisor affiliation decisions.

→ Yach Advisors, founded by Bryan Yach in Southlake, Texas, launched as an independent firm and affiliated with Cetera's Avantax platform after Yach spent 15 years at Fidelity Investments.
→ Tom Tourek joined Wilde Wealth Management Group in Arizona after nearly 30 years in financial services, where he will work under CEO Trevor Wilde.
→ Honeycomb Wealth Advisors, co-founded by David Cushard and Wesley Mullins, brought approximately $190 million in assets under advisement to Cetera's Summit Financial Networks after departing Commonwealth Financial Network.

LPL Nets $1.5Bn Dallas Practice from MassMutual

LPL Financial recruited Spectrum Wealth Strategies, a $1.5 billion advisory practice, from MassMutual, adding another large team to its growing advisor network. Headquartered in Dallas with additional offices in Waco, Texas, and Wilmington, North Carolina, the team includes 10 advisors led by Randy Black, Jonathan Bomar, Truman Blocker, Landon Vaughan, Weston Poulos, Billy Geiler, Jeff Cummins, and Jaime Galvan. The move was driven by the team's desire for greater independence while maintaining access to LPL's technology, research, and operational support, highlighting LPL's continued success in attracting large advisory teams from traditional firms.

→ Spectrum Wealth Strategies, managing approximately $1.5 billion in client assets, joined LPL Financial from MassMutual.
→ The Dallas-based practice also has offices in Waco, Texas, and Wilmington, North Carolina, and serves business owners, corporate professionals, retirees, and high-net-worth families.
→ The recruitment marks another billion-dollar-plus addition for LPL in 2026, reinforcing the firm's strong advisor recruiting momentum.

Osaic Welcomes Signature Private Wealth Management from Wells Fargo Advisors Financial Network

Signature Private Wealth Management, a Waterloo, Iowa-based advisory team overseeing more than $300 million in client assets, has left Wells Fargo Advisors Financial Network (FiNet) to join Osaic. Led by founder and president Doug Hall and partner Craig Hall, the family-run practice cited Osaic's open-architecture platform, greater operational flexibility, and long-term succession planning resources as key factors behind the move. The transition reflects Osaic's continued recruiting momentum as it attracts established independent advisory teams seeking enhanced technology, practice management support, and greater independence.

→ Signature Private Wealth Management transitioned from Wells Fargo FiNet to Osaic with more than $300 million in client assets.
→ The firm focuses on serving multigenerational families through comprehensive wealth management and retirement planning.
→ Leadership said Osaic's open architecture, advisor flexibility, and succession planning capabilities were major reasons for making the move.

&Partners Recruits $1.6B in Advisor Teams

&Partners continued its aggressive recruiting streak by adding three advisor teams from Wells Fargo Advisors with a combined $1.6 billion in pre-hire assets, reinforcing its position as one of the most active breakaway platforms targeting wirehouse talent. The hires—Wavewood Private Wealth, Brookside Wealth Advisors, and Three Points Wealth Planners—span New Jersey, Indiana, and California, and all transitioned from Wells Fargo within a single week. Each team includes senior advisors and client service staff, reflecting a full “lift-out” model rather than individual advisor moves. The additions push &Partners to roughly 117 advisor practices and about $57 billion in assets, highlighting continued momentum in scaling its hybrid broker/dealer network through large-team acquisitions from traditional wirehouses.

→ &Partners recruited three Wells Fargo Advisors teams totaling approximately $1.6B in pre-hire assets.
→ The teams include Wavewood Private Wealth (~$574M), Brookside Wealth Advisors (~$550M), and Three Points Wealth Planners (~$450M), all departing Wells Fargo.
→ All three teams transitioned within a one-week span and included full advisor + support staff “lift-outs.”

Citizens Builds Private Wealth Momentum in Southern California

Citizens Private Wealth announced that it has expanded its advisory capabilities with the addition of a new sports and entertainment-focused wealth management team in Southern California. The team, which previously operated at another firm, will join Citizens to serve high-net-worth clients across the region, with a specialized focus on athletes, entertainers, and other individuals in the sports and entertainment industries. The move reflects Citizens’ continued push to scale its wealth management business and deepen its presence in key growth markets, particularly on the West Coast. The hire also aligns with a broader industry trend of wealth platforms competing aggressively for niche, high-value client segments as they expand private banking and advisory offerings.

→ Citizens added a Southern California-based private wealth team specializing in sports and entertainment clients.
→ The team focuses on serving high-net-worth individuals, including athletes and entertainers.
→ The move strengthens Citizens’ private banking and wealth management footprint in the Western U.S.

$8 Million UBS Team Returns to Morgan Stanley in Miami

A $8 million revenue-producing advisory team led by Steve E. Gold has left UBS to rejoin Morgan Stanley Private Wealth Management in Miami, marking a “boomerang” move back to the firm where Gold began his career. The Gold Wealth Management Group includes advisor Thomas C. Duggan and support staff Danisbel Conesa and Kierstyn Abreu, and the team’s decision reflects a preference for Morgan Stanley’s employee-channel model, citing stability, smoother client transitions, and broader product access over launching an independent RIA. The move also highlights continued recruiting competition in South Florida, where firms are aggressively courting high-revenue teams, with UBS, Wells Fargo, and Ameriprise reportedly among the competitors that considered bids for the group.

→ The team generates roughly $8M in annual revenue and includes advisors Steve Gold and Thomas Duggan, plus support staff.
→ Steve Gold originally started his career at Morgan Stanley (2000) before moving to UBS in 2005, making this a return to his “home” firm.
→ The group chose Morgan Stanley’s employee-channel model over independence, citing stability, seamless client servicing, and product breadth.

Merrill Lynch Adds $460M UBS Team in Tennessee

Merrill Lynch recruited a $460 million advisory team from UBS in Nashville, continuing the industry's active competition for experienced wealth management teams. Financial advisor Peter Choy, along with support staff Holly Adams, Weston Zierer, and Katie Malecky, joined Merrill after more than a decade at UBS, bringing an estimated $4.3 million in annual revenue. The hire comes as UBS continues to experience advisor attrition following compensation and cost-cutting changes, while Merrill remains focused on strengthening its recruiting efforts through advisor and leadership hires across key markets.

→Peter Choy and his team left UBS to join Merrill Lynch's Nashville office, bringing approximately $460 million in client assets and an estimated $4.3 million in annual production.
→Choy is a veteran advisor with previous experience at Morgan Stanley, Merrill Lynch, Smith Barney, and UBS, having joined UBS in 2015.

M&A Activity

MAI Buys $734M Dallas RIA

MAI Capital Management continued its aggressive acquisition strategy with the purchase of Dallas-based Service Academy Capital Management (SACMGT), a $563 million RIA that focuses on ultra-high-net-worth individuals, families, and veteran clients. The deal adds another Dallas foothold to MAI’s expanding Texas presence and integrates SACMGT into its Evoke Advisors ultra-high-net-worth division. Founded in 2015 by Brian Sears, SACMGT brings expertise in customized portfolio management, alternatives, and family office-style planning.

→ MAI acquired Dallas-based Service Academy Capital Management, which manages roughly $563M in AUM.
→ SACMGT is being folded into MAI’s Evoke Advisors division, strengthening its ultra-high-net-worth and family office offering.
→ Founder Brian Sears and his team will stay on in client-facing and senior leadership roles within MAI.
→ The deal continues MAI’s broader acquisition streak (20+ deals since 2024) and expansion across Texas and UHNW markets.

Modern Wealth Buys $1.1Bn LPL-Affiliated RIA

Modern Wealth continued its aggressive acquisition strategy by purchasing Flaharty Asset Management, an LPL-affiliated RIA managing approximately $1.1 billion in client assets. The Clearwater, Florida-based team—including roughly 18 employees and nine advisors—joins Modern Wealth as part of its ongoing consolidation of independent advisory firms, marking the firm’s 22nd acquisition since its 2023 launch. Modern Wealth, founded by former United Capital and Goldman Sachs executives and backed by Crestview Partners, continues to scale rapidly, surpassing $14 billion in AUM and expanding its footprint across key U.S. markets.

→ Modern Wealth acquired Flaharty Asset Management, an LPL-affiliated RIA with about $1.1B in AUM.
→ The deal is Modern Wealth’s 22nd acquisition since launching in 2023, pushing its assets past $14B.
→ The 18-person team (including nine advisors) will transition client assets from LPL to Fidelity as custodian.
→ The transaction highlights continued consolidation of LPL-affiliated RIAs into large, PE-backed aggregator platforms.

Waverly Advisors Acquires WealthPlans and Cooley & Associates

A $250 million advisory team has joined Waverly Advisors through the acquisition of WealthPlans, LLC and its affiliated tax and accounting firm, Cooley & Associates, marking another step in Waverly’s ongoing expansion of its integrated wealth management platform in the Mid-Atlantic. The deal adds both wealth management and tax preparation capabilities in Frederick, Maryland, reinforcing Waverly’s strategy of combining investment advisory, financial planning, and tax services under one roof.

→ Waverly Advisors acquired WealthPlans (~$250M AUM) along with its affiliate Cooley & Associates, a tax and accounting firm.
→ The deal expands Waverly’s presence in Frederick, Maryland and strengthens its Mid-Atlantic footprint with a second location in the state.
→ The acquisition integrates both wealth management and tax/accounting services into Waverly’s broader advisory platform as part of its broader, PE-backed M&A strategy.

Mission Wealth Merges with $866M Seattle-Area RIA

Mission Wealth continued its acquisition-driven expansion by merging with FRG Family Wealth Advisors, an $866 million Seattle-area RIA based in Bellevue, Washington, as part of a broader two-firm deal that added more than $1.1 billion in combined assets. The transaction, completed in May 2026, brings the Seattle-based team led by founders Benjamin D. Johnson and Jimmy S. Wu into Mission Wealth’s national platform and strengthens the firm’s presence in the Pacific Northwest. The deal is part of Mission Wealth’s broader 2026 growth strategy, which has included multiple integrations aimed at scaling its advisory capabilities while maintaining continuity for client relationships.

→ Mission Wealth merged with FRG Family Wealth Advisors, a Bellevue, WA-based RIA managing about $866M in assets.
→ FRG was founded by Benjamin D. Johnson and Jimmy S. Wu and serves hundreds of households across the region.
→ The FRG deal was part of a broader two-RIA transaction totaling roughly $1.1B in combined AUM, including another smaller West Coast advisory firm.

Modera Adds $312M Florida RIA in First Deal of 2026

Modera Wealth Management completed its first deal of 2026 by acquiring Northstar Financial Planners, a $311.6 million Florida-based RIA, marking another step in the firm’s continued expansion across high-growth regional markets. The acquired firm, founded in 2000 and based in Plantation, Florida, serves more than 350 households with a focus on fiduciary financial planning for pre-retirees, Florida Retirement System special risk employees, and families with special needs children.

→ Modera acquired Northstar Financial Planners, a Florida RIA managing approximately $311.6M in assets.
→ Northstar serves 350+ households and specializes in fiduciary planning for pre-retirees, FRS special risk employees, and families with special needs dependents.
→ Founder and CEO Allen Giese is joining Modera as part of the transaction to support continuity and succession planning.
→ The deal expands Modera’s Florida footprint while reinforcing its strategy of adding boutique RIAs with niche planning expertise.

Waverly Buys $3Bn Pittsburgh Trust Company

Waverly Advisors has acquired Smithfield Trust Company, a Pittsburgh-based fiduciary wealth manager overseeing roughly $3 billion in assets, marking Waverly’s 34th deal since receiving PE backing in 2021. The transaction expands Waverly’s trust and estate planning capabilities and deepens its presence in the Northeast, adding 21 professionals and integrating Smithfield’s leadership team as co-regional directors. The deal reflects Waverly’s broader strategy of building a more comprehensive wealth management platform through acquisitions that add specialized services like trust administration, tax planning, and multi-generational estate expertise.

→ Waverly Advisors acquired Smithfield Trust Company, a PA-chartered trust firm managing about $3B in AUM.
→ The acquisition adds 21 professionals, with Smithfield leadership joining as co-regional directors.
→ This marks Waverly’s 34th acquisition since 2021, underscoring an aggressive, PE-backed M&A strategy.

PE-Backed Maridea Enters Florida with RIA Buy

A private equity-backed RIA aggregator, Maridea Wealth Management, expanded its national footprint by acquiring Ashford Investment Advisors, a $180 million Florida-based advisory firm. The deal marks Maridea’s first entry into the Florida market and continues its rapid acquisition-driven growth strategy, which has been fueled by outside capital and a broader push to build a full-service, integrated wealth platform. The acquired firm will maintain its advisory team and local presence while gaining access to Maridea’s expanded investment, planning, and tax capabilities.

→ Maridea Wealth acquired Ashford Investment Advisors, a ~$180M AUM Florida-based RIA, marking its first entry into the state.
→ Ashford’s advisory team remains in place while clients gain access to Maridea’s broader planning, tax, and investment platform.
→ The deal is part of Maridea’s broader acquisition-led growth strategy backed by private equity capital.

New Firm Launches

Wells Team Launches $1Bn Dynasty-Backed Wealth Business

A three-advisor team led by former Wells Fargo Advisors professionals has launched a new $1 billion independent wealth management practice, N10° Wealth, in partnership with Dynasty Financial Partners. The breakaway group, based in Greenwich, Connecticut, will operate as both a registered investment advisor (RIA) and an affiliated asset management firm under the N10 Holdings umbrella. The wealth unit begins with roughly $650 million in client assets, while the affiliated investment arm manages about $350 million in strategies and plans to eventually launch an ETF.

→ Former Wells Fargo advisors launched N10° Wealth, a Dynasty Financial Partners–supported independent RIA managing roughly $1B in combined wealth and investment assets.
→ The structure includes two entities: N10° Wealth (advisory) and N10° Assets (investment/asset management division).
→ The wealth business begins with about $650M in advisory assets, while the asset management arm oversees about $350M in strategies.
→ The firm plans to launch an ETF and expand its investment platform as part of a broader push to blend advisory and product creation under one independent structure.

LPL Financial Welcomes Align Private Wealth

LPL Financial announced that Align Private Wealth, a $2 billion advisory team previously affiliated with PNC Private Bank, has joined its broker-dealer and RIA platform to launch an independent practice under the LPL umbrella. Based in Greenwood, Indiana, the team is led by advisors Scott Gilliam and Travis Blessing and brings a client-focused, goals-based planning approach for high-net-worth and ultra-high-net-worth families, business owners, and multigenerational households.

→ Align Private Wealth, a ~$2B advisory team, joined LPL from PNC Private Bank to launch an independent practice.
→ The team is led by Scott Gilliam and Travis Blessing and is based in Greenwood, Indiana.
→ Their practice focuses on high- and ultra-high-net-worth clients with a goals-based, planning-first approach.
→ The move underscores ongoing advisor migration toward independence models supported by large platforms like LPL.

Valen Private Capital Latest Merrill Breakaway to Join Sanctuary Wealth

A $477 million Merrill Lynch advisory team led by veteran advisor John Durham has left the wirehouse to launch Valen Private Capital and join Sanctuary Wealth’s independent platform. Based in Pennsylvania, the new firm is built to serve ultra-high-net-worth families with complex, multigenerational planning needs, combining investment management, estate planning coordination, and high-touch advisory services. The addition further strengthens Sanctuary’s positioning in the UHNW segment as it continues to attract experienced advisors leaving firms like Merrill Lynch in search of independence.

→ John Durham, formerly at Merrill Lynch, managed roughly $477M in client assets before launching Valen Private Capital.
→ The firm is designed to serve ultra-high-net-worth families with complex, multi-generational wealth and planning needs.
→ Valen Private Capital joins Sanctuary Wealth as a Partner Firm, using its hybrid RIA platform for independence with institutional support.

$3.5B UBS Private Wealth Team Breaks Away to Launch San Francisco RIA

A $3.5 billion UBS private wealth team led by Michael Evans and David Jasper has left the wirehouse to launch Beacon Coast Partners, a San Francisco-based independent RIA focused on ultra-high-net-worth clients navigating concentrated wealth and liquidity events. The five-person team, which includes investment strategist Edward Huang and support staff Katherine Piersanti and Marcus Ferriera, had spent over two decades at UBS and will now operate as an employee-owned fiduciary firm. Their new practice is designed to serve founders, executives, and early employees before and after major liquidity events, offering highly customized planning across asset allocation, tax strategy, estate planning, and cash flow management.

→ Michael Evans and David Jasper left UBS after 20+ years to launch Beacon Coast Partners in San Francisco
→ The team previously oversaw roughly $3.5B in client assets and serves ultra-high-net-worth clients, especially founders and executives tied to liquidity events.
→ Beacon Coast is a five-person, employee-owned fiduciary firm that will custody with Fidelity Investments.
→ The firm is part of a broader wave of UBS advisor departures amid continued demand for independent RIA platforms and greater advisory flexibility.

LPL Financial Welcomes $160 Million Firm NorthStar Wealth Advisors

NorthStar Wealth Advisors, a newly launched independent advisory firm led by Ronald White, has joined the LPL Financial platform with support from Good Life Companies after transitioning from Raymond James. Based in El Paso, Texas, the firm manages approximately $160 million in client assets and serves retirees, business owners, and high-net-worth families. White said the move was driven by a desire for greater ownership, flexibility, and access to LPL's technology and operational resources, reflecting the continued appeal of supported independence for experienced advisors looking to grow their practices.

→ Ronald White launched NorthStar Wealth Advisors as an independent firm affiliated with LPL Financial and Good Life Companies after leaving Raymond James.
→ The El Paso-based team, which includes wealth advisor Scott Draime, oversees approximately $160 million in advisory, brokerage, and retirement plan assets.
→ The firm specializes in serving retirees, business owners, high-net-worth individuals, and multigenerational families through comprehensive wealth management and financial planning.

$1.9B Ameriprise Team Launches RIA With Sanctuary’s Tru Independence

A $1.9 billion Ameriprise advisory team has broken away to launch an independent RIA with the support of Sanctuary Wealth-owned Tru Independence, continuing the industry's steady migration toward advisor-owned firms. The 16-person team, led by veteran advisors, chose the fully supported independence model to gain greater control over their business while leveraging Tru Independence for operational, compliance, and technology support.

→ A 16-person team managing approximately $1.9 billion in client assets left Ameriprise to launch a new independent RIA with Tru Independence.
→ The advisors selected the fully supported independence model, allowing them to retain ownership of their practice while outsourcing operational, compliance, and technology functions.
→ The launch further expands Sanctuary Wealth's presence in the breakaway advisor space following its acquisition of Tru Independence in 2024.

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