Family Office & RIA Newsletter

Volume 155 • 11/13/2025

Biotech Swims in Lofty Investments, Commonwealth Teams Jump Ship, and Dakota Wealth Management Reels in Delaware Firm in the latest edition...

Take a Lap Around the Industry 🏃

• Clearlake to Double Assets With Nearly $1 Billion Deal (WSJ)
• Hedge Fund Giants Are Muscling Into Red-Hot Private Markets (Bloomberg)
• Edward Jones to Raise $1.4 Billion in 2026 Partnership Offering (AdvisorHub)
• Wealthspire Buys New Jersey RIA Following Merger (International Advisor)

Family Office Deal Tracker

• In a Series B funding round, the Italian biotech firm, AAVantgarde Bio, has raised $141M with support from Michael Bloomberg's family office, Willett Advisors
• Paul Allen's family office, Cercano Management, has participated in a $12.7M Seed round for Accipiter Biosciences, a Seattle-based biotech company
• Iambic Therapeutics, a clinical-stage life-science and technology company, has landed $100M in an oversubscribed round with participation from Tao Capital Partners
• With multiple investors, including Premji Invest and Foris Ventures, Hippocratic AI has raised $126M at a $3.5B valuation in a Series C round

Source: FINTRX

Team Shifts 🚨

• Founded by Bradley Martin and Margaret Wright, $4.5B Atlanta-based MartinWright Advisory joins Sanctuary Wealth (Pulse 2.0)
• Managing $400M in assets, Hon Capital Partners has left Wells Fargo for Rockefeller Capital Management (Advisorhub)
• Savvy Advisors snagged three teams from Commonwealth Financial Network, including Innovative Financial Solutions, Horizon Advisory Group, and Atticus Wealth Management (Citywire)
• Managing $1.2B at UBS, Heller Stieffel & Noto Wealth Management jumps to RBC (AdvisorHub)

M&A Spotlight

Dakota Wealth Management has acquired Lokken Investment Group, a Lewes, Delaware-based advisory firm managing $455M in assets. The acquisition brings Dakota’s total AUM to nearly $7.5B and marks its expansion into Delaware.

• The acquisition honors the late Jon Lokken’s legacy, combining the firm’s client-first philosophy with Dakota’s broader resources, technology, and national reach
• The six-member Lokken team, led by Carrie Ruark, will continue to serve clients from their existing office, now Dakota’s 17th location nationwide
• Lokken joins Dakota with decades of combined experience and a strong culture of client loyalty and collaboration, ensuring a smooth transition and continued personalized service for their long-standing client base

Source: PRNewswire

Reps On the Move ↗️

• Joining from Gladstone Group, Derek Bruton has been named Head of M&A at Modern Wealth Management (WealthManagement.com)
• After more than 20 years at Wells Fargo, Robbie Hutchinson joins Moneta Group Investment Advisors as Managing Director of M&A (Citywire)
• HB Wealth names Gina Martin Adams as Chief Market Strategist with the goal of strengthening their investment leadership (Pulse 2.0)
• SEIA has snagged Charles Schwab alum Matt Floit, marking continued changes to their executive leadership this year (Citywire)

AI Meets Advisory: Apex Partners with Evergreen Wealth to Redefine Wealth Management

Apex Fintech Solutions has partnered with Evergreen Wealth, the AI-driven RIA founded by fintech veteran Bill Harris, former CEO of PayPal, Intuit, and Personal Capital, to power Evergreen’s Dynamic Portfolios using Apex’s AscendOS platform. The collaboration merges Apex’s cloud-native, API-driven infrastructure with Evergreen’s blend of AI analytics and human financial expertise to deliver scalable, tax-optimized portfolios for affluent clients. AscendOS enables Evergreen to offer real-time portfolio customization, automated trading, and advanced tax efficiency—capabilities once reserved for institutional investors. Evergreen’s proprietary AI engine, Evergreen Intelligence, continuously refines portfolios for after-tax performance while maintaining a high-touch advisory experience. With offices in Miami, Dallas, and Raleigh, the firm continues expanding its personalized digital wealth platform. The partnership underscores how AI and human advisory insight are converging to redefine high-net-worth wealth management.

Source: Finance Feeds

Written by:

Sharah Roy

Product Management Associate, Wealth Teams

FINTRX is an industry-leading AI-powered data intelligence solution covering 850,000+ financial firm and contact records, designed to empower industry professionals to efficiently and effectively engage with the global private wealth ecosystem. With innovative AI utility, detailed search parameters and customizable workflow tools, FINTRX enables seamless tracking of allocation trends, in-depth analysis of investment data, high-level relationship mapping and much more. To learn more or request a trial of the FINTRX product, click below.