In the October 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.
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Rep Movements
- Ameriprise adds $300M Kendall Wealth from Edward Jones
- Mariner Independent recruits $185M teams from Carson & Fifth Third
- Cetera Summit gains $1.1B King Financial from Commonwealth
- Cetera adds $1.8B Pillar Financial from Northwestern Mutual
- Rockefeller hires $1.3B ex–Morgan Stanley teams
- Concurrent adds $1.3B Keaton & Sams from Raymond James
M&A Activity
- Greenspring merges with Wealthstream to form $10B+ firm
- Cerity Partners buys $603M Oak Hill Advisors in Virginia
- Merit hits 50th deal with $476M Obsidian Planning
- Edelman buys $300M Hasenberg Financial in Wisconsin
- Beacon Pointe adds $857M The Family Firm in Maryland
- IFG acquires Makino Financial & JK Associates
- Creative Planning acquires $250B SageView
- NorthRock buys $2.7B WGG Wealth from Ameriprise
- Captrust enters Upstate NY with $3.1B Cobblestone deal
- SEIA closes $1.6B Select Money Management acquisition
- Focus Partners Wealth buys $2.4B Sonora Investment
- MAI acquires $245M Liberty Private Client
New Firm Launches
- Wells Fargo team launches Ticino Wealth in California
- Merrill duo launches Ascend Private Wealth with Kestra
- VestGen launches Retirement Services with Osaic team
Read on for more info...
Ameriprise Recruits Family-Run Ohio Firm From Edward Jones Managing $300M
Ameriprise Financial has added a family-run practice in New Philadelphia, Ohio, managing over $300 million in client assets from Edward Jones. The Kendall Wealth Management team, led by private wealth advisor Kiley Kendall, alongside her husband Mitch and son Kyle, joins Ameriprise’s independent channel. The group emphasized that while they weren’t actively seeking a move, Ameriprise’s combination of independence, resources, and flexibility aligned with their long-term growth vision and client-first philosophy.
→ Kendall Wealth Management oversees more than $300M in assets and transitions from Edward Jones to Ameriprise’s independent channel.
→ The team includes three family advisors, Kiley, Mitch, and Kyle Kendall, plus operations and service staff.
→ Ameriprise leaders Andrew Johnson and Jon Jackson will support the practice’s integration and regional growth.
View Ameriprise Financial in FINTRX
$40bn Mariner Independent recruits teams from Carson, Fifth Third
Mariner Wealth Advisors has continued expanding its Mariner Independent platform by recruiting two advisor teams from major firms, Carson Group and Fifth Third Wealth Advisors. The new affiliates, Abundant Life Financial and Eclectic Wealth Management, together manage approximately $185 million in client assets and joined the partnered-independence platform in October 2025, according to recent SEC filings. The hires underscore Mariner’s accelerating growth in the supported-independence space under Rob Sandrew, who took over leadership of Mariner Independent earlier this year.
→ Abundant Life Financial ($100M AUM), led by Scott Ferguson and Bryan Dearolf, joins Mariner from Carson Group in Raleigh, North Carolina.
→ Eclectic Wealth Management ($85M AUM), led by Murray Kinlaw and Scott Cislo, departs Fifth Third Wealth Advisors in Charlotte, North Carolina.
→ Both teams now operate under Mariner Independent, which supports 1099 advisors with back-office, compliance, and business management resources.
→ Parent company Mariner Wealth Advisors oversees about $577B in assets, backed by Neuberger Berman and Leonard Green & Partners.
View Mariner Wealth Advisors in FINTRX
$1.1bn New Jersey team exits Commonwealth for Cetera
King Financial Network, a 14-person multi-family office managing more than $1.1 billion in client assets, has left Commonwealth Financial Network to join Cetera’s Summit Financial Networks. The Manalapan, N.J.–based firm, led by Jim King Jr. with partners Tony Kelly and A.J. Vignola, made the move following Commonwealth’s $2.7 billion sale to LPL Financial. After meeting with more than a dozen potential partners, King selected Cetera for its service-focused model, advisor support, and alignment with KFN’s client-first philosophy. The transition also coincides with Cetera’s rollout of Fidelity’s custodial platform across its network.
→ KFN oversees $1.1B in assets and joins Cetera’s Summit Financial Networks OSJ following Commonwealth’s sale to LPL.
→ Founder Jim King Jr. chose Cetera after interviewing over a dozen firms, citing service quality and cultural alignment.
→ Cetera recently integrated Fidelity NFS as a custodial option, effective October 1, expanding flexibility for advisors.
→ The firm’s shift follows LPL’s $2.7B acquisition of Commonwealth, which has already led to 230 advisor departures.
→ Backed by Genstar Capital, Cetera oversees more than $590B in assets under administration and continues expanding through advisor-focused regional growth teams.
Cetera Snags 34-Member Team from Northwestern Mutual
Cetera has expanded its independent broker-dealer network with the addition of Pillar Financial Group, a 34-person team overseeing $1.8 billion in client assets that left Northwestern Mutual’s investment services group. Led by CEO Luke Madsen, the Seattle-based firm will custody assets with BNY Pershing and operate within the Cetera network. Madsen cited Cetera’s scale, technology, and personalized advisor support as key reasons for the move, marking another example of the growing shift of large advisory practices toward independence.
→ Pillar Financial Group ($1.8B AUM) joins Cetera from Northwestern Mutual, led by longtime CEO Luke Madsen.
→ The 34-member team operates across Washington, Idaho, and Illinois, serving individuals, families, and small businesses.
→ Cetera’s platform capabilities, including estate planning, alternatives, and tax planning, were major draws for the team.
→ The move reflects continued growth in the independent broker-dealer channel, which now represents 16% of industry assets.
Rockefeller adds over $1bn from two ex-Morgan Stanley teams
Rockefeller Capital Management has expanded its national footprint by recruiting two former Morgan Stanley teams collectively managing over $1.3 billion in client assets. The Los Angeles–based VU Wealth Partners, led by Paul Urbanek, and Birmingham, Michigan–based Picklo Wealth Partners, led by Scott Picklo, have both joined Rockefeller’s Global Family Office division. The hires follow a major recapitalization earlier this month that raised Rockefeller’s valuation to $6.6 billion and signal the firm’s continued push to attract top-tier wirehouse talent and deepen its presence across key U.S. markets.
→ VU Wealth Partners ($1B AUM) and Picklo Wealth Partners ($300M AUM) join Rockefeller from Morgan Stanley.
→ The additions come shortly after Rockefeller’s recapitalization led by Mousse Partners, Progeny 3, and Abrams Capital, boosting its valuation to $6.6B.
→ CEO Greg Fleming said the capital raise supports the firm’s “next phase of growth” as Rockefeller strengthens its national advisor network.
View Rockefeller Capital Management in FINTRX
Concurrent adds $1.3bn ex-RayJay team
Concurrent Investment Advisors has made its largest recruitment to date, adding Keaton & Sams Wealth Management, a former Raymond James-affiliated team overseeing more than $1.3 billion in assets. The six-person Georgia-based firm, led by managing partners Bill Keaton and Alfred Sams, joins Concurrent’s growing network under a minority-stake affiliation. The move highlights the continued migration of large wirehouse teams toward independence, with Keaton & Sams selecting Goldman Sachs as its custodian.
→ Keaton & Sams Wealth Management manages over $1.3B in client assets and operates from Savannah and Sea Island, Georgia.
→ Concurrent took a minority stake in the firm as part of the affiliation deal.
→ The team will custody assets with Goldman Sachs, reflecting an institutional-level partnership.
→ CEO Nate Lenz noted a rise in larger, more complex recruitments driven by Concurrent’s growing reputation and entrepreneurial culture.
View Concurrent Investment Advisors in FINTRX
Fast-growing Maryland RIA merges to create $10bn shop
Greenspring Advisors, one of Maryland’s fastest-growing RIAs, has merged with Wealthstream Advisors, a New York–based firm managing $1.5 billion in client assets, to create a combined entity overseeing more than $10 billion. The deal unites two independently successful firms under the Greenspring Advisors brand, enhancing their national presence and service capabilities across private client and institutional businesses. The merged firm now employs 70 people, including 23 partners, with offices in Maryland, New York, Pennsylvania, and New Jersey.
→ The Greenspring–Wealthstream merger creates a $10B+ firm with a combined 70 employees and 23 partners.
→ Wealthstream Advisors, founded by Michael Goodman, brings strong expertise in comprehensive wealth planning.
→ The merger expands Greenspring’s geographic footprint across the mid-Atlantic and Northeast.
→ Echelon Partners served as the financial advisor to both firms on the transaction.
View Greenspring Advisors in FINTRX
Cerity Partners acquires $603m Virginia RIA
Cerity Partners has announced the acquisition of Oak Hill Advisors, a Lansdowne, Virginia–based RIA managing approximately $603 million in client assets. Founded in 2022 by former Wells Fargo advisor Patrick Larkin, Oak Hill brings five advisors to Cerity’s growing national platform. The deal strengthens Cerity’s presence in the D.C. region and marks its seventh acquisition of the year, following recent additions like Graypoint in New York. Backed by Genstar Capital, Cerity Partners continues to build toward its vision of becoming a global professional services firm.
→ Oak Hill Advisors ($603M AUM) joins Cerity Partners, expanding its reach into the Washington, D.C. metro area.
→ Founder Patrick Larkin cited access to estate planning, private markets, and cross-border solutions as key benefits of the merger.
→ The deal is Cerity’s second RIA acquisition since September and one of seven completed in 2025.
→ Cerity Partners manages $130B in client assets and was recognized as New York’s fastest-growing firm in Citywire RIA’s 50 Growers report.
→ The transaction was advised by Stradley Ronon Stevens & Young for Oak Hill and Lowenstein Sandler for Cerity Partners.
View Cerity Partners in FINTRX
$20bn Merit enters Maryland with 50th deal, adds general counsel
Merit Financial Advisors has completed its 50th acquisition, marking a major milestone in the Atlanta-based RIA’s rapid expansion strategy. The firm acquired Obsidian Planning Solutions, a Rockville, Maryland–based RIA managing $476 million in client assets, led by partners Patrick Carroll and Todd Feldman. The deal gives Merit a new foothold in Maryland and adds Obsidian’s niche expertise in business succession planning. It’s Merit’s first acquisition since selling a minority stake to Constellation Wealth Capital (CWC) in July, positioning the $20B RIA for continued inorganic and organic growth.
→ Obsidian Planning Solutions ($476M AUM) joins Merit Financial Advisors, marking its first Maryland acquisition.
→ The deal brings a 10-person team and 790 clients, including 128 high-net-worth individuals, to Merit’s platform.
→ Merit reaches its 50th acquisition milestone, following nine other deals completed in 2025.
→ Backed by Constellation Wealth Capital (with debt financing from Ares Management), Merit’s former investors WPCG, HGGC, and Neuberger Berman have exited.
→ Merit hired John W. Martin as its first in-house general counsel, supporting future M&A and expansion initiatives.
View Merit Financial Advisors in FINTRX
Edelman acquires $300m Wisconsin RIA
Edelman Financial Engines (EFE) has acquired Hasenberg Financial Group, a Wisconsin-based RIA managing approximately $300 million in client assets. Founded in 2023 by Chris Hasenberg, a former Royal Alliance advisor, the firm serves nearly 800 clients with a focus on estate planning and financial education. The acquisition marks EFE’s ninth deal in the past three years and underscores the firm’s strategy of selectively adding niche RIAs that complement its national wealth management platform.
→ Hasenberg Financial Group ($300M AUM) joins Edelman Financial Engines, expanding its Midwest footprint.
→ Founder Chris Hasenberg spent nearly 20 years with Royal Alliance Associates before launching his own firm.
→ The deal follows EFE’s $426M acquisition of Cahill Wealth Management earlier this year.
→ Backed by Hellman & Friedman and Warburg Pincus, EFE now manages more than $308B for 1.3M clients nationwide.
View Edelman Financial Engines in FINTRX
Beacon Pointe adds $857m D.C.-area RIA
Beacon Pointe Advisors has acquired The Family Firm, a female-led RIA based in Bethesda, Maryland, managing approximately $857 million in client assets. Led by longtime partners Kate Fries and Stacy Bakri, the firm serves around 200 households and brings a strong focus on personalized wealth management. The deal marks Beacon Pointe’s tenth acquisition of 2025 and expands its presence in the mid-Atlantic region, bringing its total assets under advisement to roughly $49 billion.
→ The Family Firm ($857M AUM) joins Beacon Pointe, further strengthening the firm’s East Coast footprint.
→ Founding partners Kate Fries and Stacy Bakri emphasized Beacon Pointe’s cultural alignment and flexibility for affiliate offices.
→ The deal, advised by Alaris Acquisitions, represents Beacon Pointe’s 10th acquisition of the year and fourth since August 2025.
→The firm now oversees $49B in assets across 75+ offices nationwide with backing from KKR.
View Beacon Pointe Advisors in FINTRX
Independent Financial Group Adds Two Firms
Independent Financial Group (IFG), a San Diego-based independent broker-dealer with more than 600 financial professionals nationwide, has acquired Makino Financial, a family-led advisory firm headquartered in Columbia, Maryland, overseeing roughly $175 million in client assets. The firm, founded by Frances Makino, joins IFG along with her children Bernard and Gloria Makino, who represent the next generation of leadership. Also joining IFG is Karen Brelsford, head of JK Associates, a tax services provider with longstanding ties to the Makino family. The partnership expands IFG’s East Coast footprint and underscores its commitment to personalized, conflict-free financial guidance.
→ Makino Financial ($175M AUM) and JK Associates join Independent Financial Group from Commonwealth Financial Network.
→ The Makino family, Frances, Bernard, and Gloria, transition together, ensuring long-term continuity and next-generation leadership.
→ Founder Frances Makino cited IFG’s independent culture and absence of corporate or private-equity influence as key motivators.
→ Recent appointments, including Chad Cristo (West), Bruce Levitus (East), and Steven Gensler (SVP, Advisor Growth), signal IFG’s focus on advisor recruitment and development.
View Independent Financial Group in FINTRX
Creative Planning Buys SageView Advisory
Creative Planning, one of the largest independent RIAs in the U.S., has acquired SageView Advisory Group, a leading retirement plan consulting and wealth management firm with $250 billion in assets under management. The combined firm now represents an estimated $640 billion in total client assets, spanning all 50 states and over 90 countries. The acquisition significantly expands Creative Planning’s retirement and institutional capabilities, while SageView’s majority owner, Aquiline Capital Partners, will exit its stake as part of the transaction.
→ The combined firm will manage approximately $640B in client assets and employ 550+ advisors across 36 offices.
→ SageView Advisory Group ($250B AUM) adds deep retirement plan consulting expertise to Creative Planning’s growing institutional business.
→ Aquiline Capital Partners fully exits its ownership stake following the deal.
→ The transaction marks one of Creative Planning’s largest-ever acquisitions, following prior deals for Mesirow’s and Lockton’s retirement advisory divisions.
View Creative Planning in FINTRX
NorthRock Acquires $2.7B Northern California Team From Ameriprise
NorthRock Partners, a Minneapolis-based RIA overseeing more than $9.4 billion in assets, has acquired WGG Wealth Partners, a Roseville, California firm managing approximately $2.7 billion and led by longtime Ameriprise advisors Stephen Westlake, Colin Grahl, and Bret Glover. The transaction marks NorthRock’s third acquisition in 2025, positioning the firm to double its assets to roughly $13 billion by year-end. Backed by Sammons Financial Group, NorthRock continues to expand nationally through strategic acquisitions and an integrated, team-based service model.
→ WGG Wealth Partners ($2.7B AUM) joins NorthRock Partners, bringing 15 advisors and nearly 40 years of Ameriprise affiliation.
→ The deal represents NorthRock’s third acquisition of 2025, following earlier additions in Chicago and Berkeley.
→ CEO Rob Nelson aims to grow NorthRock into a $100B organization within 3–5 years, emphasizing culture and collaboration.
→ Backed by Sammons Financial Group, NorthRock continues its aggressive M&A and organic expansion strategy.
→ The firm’s “total integration” model merges advisors fully into its platform, supported by teams spanning investment, tax, insurance, and estate planning.
View NorthRock Partners in FINTRX
Captrust buys $3.1bn Upstate NY RIA Cobblestone Capital Advisors
Captrust has expanded into Upstate New York with the acquisition of Cobblestone Capital Advisors, a $3.1 billion Rochester-based RIA offering wealth management, investment management, private investments, and family office services. The 42-person firm, led by CEO John DiPasquale, joins Captrust’s growing national network, marking the firm’s first presence in Rochester. The deal reflects Captrust’s ongoing acquisition strategy as one of the most active consolidators in wealth management, further strengthening its position as a top national RIA.
→ Cobblestone Capital Advisors ($3.1B AUM) adds a Rochester, N.Y. office, Captrust’s first in the region.
→ CEO John DiPasquale cited cultural alignment and shared values as key drivers behind the deal.
→ Captrust continues its aggressive M&A strategy, following a $1.4B RIA acquisition in North Carolina earlier this year.
→ The firm recently named Michael Wunderli, formerly of Echelon Partners, as head of M&A to lead future deals.
→ Headquartered in Raleigh, Captrust oversees over $1 trillion in assets, backed by The Carlyle Group and GTCR.
SEIA adds $1.6bn Cali RIA in first deal of 2025
Signature Estate & Investment Advisors (SEIA) has completed its first acquisition of 2025, bringing aboard Select Money Management (SMM), an Aliso Viejo, California–based RIA overseeing approximately $1.6 billion in client assets. The 10-person SMM team, led by Carin and Tony Amaradio, joins SEIA as W-2 employees in a deal that officially closed in mid-October 2025. The transaction ranks among SEIA’s largest to date and reinforces its succession-driven M&A strategy, providing SMM clients with expanded service capabilities and continuity under SEIA’s national platform.
→ Select Money Management ($1.6B AUM) joins SEIA, expanding the firm’s California presence and client base of 900+ households.
→ Carin and Tony Amaradio, along with COO Laurie Thompson, transition to SEIA to ensure long-term client continuity and succession.
→ The deal closed mid-October 2025, aligning with SEIA’s strategy to target $500M–$5B RIAs for selective acquisitions.
→ SEIA added AssetMark as a new custodian to accommodate SMM’s clients, joining Schwab and Fidelity on its platform.
→ Backed by Reverence Capital Partners, SEIA manages $30B+ in assets and is pursuing an ambitious goal of $100B AUA within five years.
View Signature Estate & Investment Advisors in FINTRX
Focus Partners Wealth buys $2.4bn Sonora Investment Management
Focus Partners Wealth (FPW), a $140 billion RIA and the largest affiliate of Focus Financial Partners, has acquired Sonora Investment Management, a Tucson, Arizona–based firm managing $2.4 billion in assets. The move is part of Focus Financial’s ongoing consolidation strategy to streamline its network of RIAs into larger, more scalable “hub” firms. Founded in 1986, Sonora specializes in holistic financial planning and retirement advisory services and will now leverage FPW’s expanded suite of planning, tax, and investment capabilities.
→ Sonora Investment Management ($2.4B AUM) joins Focus Partners Wealth, strengthening its Southwest U.S. presence.
→ The 14-person team, led by Edwin Hopper and Ebersole Gaines, gains succession planning and operational scale through the merger.
→ The acquisition continues Focus Financial’s internal consolidation, reducing its network from 90 to roughly 70 affiliates.
→ FPW, formed through the 2024 merger of Buckingham Wealth Partners and The Colony Group, now serves clients across all 50 states.
→ Backed by Clayton, Dubilier & Rice, Focus Financial continues its hub-based growth model, combining internal mergers with selective external acquisitions.
View Focus Partners Wealth in FINTRX
MAI acquires $245m Florida RIA
MAI Capital Management has acquired Liberty Private Client, a Fort Myers, Florida–based RIA managing $245 million in client assets, marking another step in the firm’s aggressive expansion strategy. Founded in 2019 and co-led by Michael McCort and Richard Seidel, Liberty brings two offices, in Fort Myers and Wayne, Pennsylvania, under the MAI umbrella. The acquisition follows MAI’s blockbuster purchase of Evoke Advisors ($27B AUM) in August and continues a string of high-profile deals that have expanded the Cleveland-based firm’s national footprint and AUM.
→ Liberty Private Client ($245M AUM) joins MAI Capital Management, adding locations in Florida and Pennsylvania.
→ Founders Michael McCort and Richard Seidel transition to senior wealth advisor roles at MAI.
→ The deal extends MAI’s Florida presence to five offices, including Naples, Key Biscayne, and Ponte Vedra Beach.
→ Follows MAI’s $27B Evoke Advisors acquisition and other recent California-based deals, pushing AUM above $39B.
→ MAI is backed by Galway Holdings, with additional investments from WPCG, Harvest Partners, Oak Hill Capital, and The Carlyle Group.
View MAI Capital Management in FINTRX
Wells Fargo Team Forms California-Based RIA
Father-son advisors Michael and Jordan Masciorini have left Wells Fargo Advisors to launch their own independent RIA, Ticino Wealth, based in Mission Viejo, California. The firm manages approximately $388 million in client assets and will continue using Wells Fargo for clearing and custody, while adding TradePMR for broker-dealer services. The move allows the team to modernize operations and enhance efficiency without disrupting the client experience. Rooted in family heritage, the firm’s name pays tribute to the Ticino region of Switzerland, reflecting the Masciorinis’ multigenerational values and client-first philosophy.
→ Ticino Wealth ($388M AUM) was founded by Michael and Jordan Masciorini, a father-son advisory team with 35+ years of combined experience.
→ The firm remains affiliated with Wells Fargo for custody but uses TradePMR (owned by Robinhood) for broker-dealer services.
→ The Masciorinis emphasized a “structural change, not a service shift,” ensuring no disruption for existing clients.
Merrill Team Managing $866M Goes Independent With Kestra in Arizona
Two Merrill Lynch advisors in Scottsdale, Arizona, David S. Barnett and Ashley T. Ament, have left the wirehouse to form Ascend Private Wealth Partners, an independent practice affiliated with Kestra Private Wealth Services (PWS). The team, which includes two support staff, officially launched on October 16. Barnett and Ament cited Kestra’s flexibility and open-architecture model as key motivators for the move, allowing them to better tailor investment solutions for clients. The addition marks the seventh wirehouse breakaway Kestra PWS has recruited this year, continuing its strong advisor growth momentum.
→ Ascend Private Wealth Partners joins Kestra PWS, which oversees $15B in assets and supports 55 practices.
→ Founders Barnett and Ament previously managed clients at Merrill Lynch and bring decades of combined experience.
→ Kestra PWS has recruited over 125 breakaway advisors, including multiple former Merrill and Goldman Sachs teams.
→ Parent company Kestra Holdings, backed by Stone Point Capital and Oak Hill Capital, oversees $142B in assets across its network.
VestGen adds $662m Osaic team to help launch retirement business
VestGen Wealth Partners has launched a new division, VestGen Retirement Services, marking its entry into the retirement plan advisory market. The Chicago-based RIA platform, which supports independent advisors through technology and back-office services, added a retirement-focused team formerly with Osaic to lead the new unit. The team, based in Oak Brook, Illinois, manages $662 million in client assets and is led by advisors Bob Greulich and James Kim, both of whom will serve as managing directors and wealth advisors for the division. The move reflects VestGen’s continued growth and diversification as it expands beyond wealth management into institutional and retirement plan services.
→ VestGen Retirement Services will provide plan design, fiduciary oversight, and participant education for retirement clients.
→ The new $662M team, led by Bob Greulich and James Kim, joins from Osaic to head the business unit.
→ VestGen now oversees more than $7B in total client assets and continues to recruit advisors nationwide.
→ CEO Josh Gerry emphasized building a firm that balances growth with personalization amid industry consolidation.