Marking its second deal in the Boston area this year, $30B Allworth Financial has acquired FSA Wealth Management, bringing in $460M in assets (Citywire)
Glass Jacobson Wealth Advisors, a $1B Maryland-based tax and accounting firm, has been acquired by Mercer Global Advisors (WealthManagement.com)
Creative Planning has made its 15th acquisition in the past two years, snapping up $1B Maryland-based Burt Wealth Advisors(Citywire)
Representing its largest dealâand its first since being bought out by Sammons Financial GroupâWealthcare Capital Management has acquired $417M Crowley Wealth Management (Citywire)
Team Movement Spotlight
Wealth Enhancement has acquired FPG Private Wealth, an Osaic-affiliated Indiana team led by Andrew Moulton, Timothy Johnston, and Don Penn, bringing in $532 million in assets.
The move establishes Wealth Enhancementâs first office in the greater Indianapolis market and strengthens its broader Midwest expansion strategy
FPG Private Wealth is known for its three step planning frameworkâPlan, Prosper, Protectâand its focus on business owners, comprehensive planning, and asset-based lending solutions
With more than 65 years of combined industry experience, the team says joining Wealth Enhancement will bolster its capabilities and client service while preserving its personalized approach
Joining from CH Investment Partners, Jonah Cave has been appointed Chief Growth Officer at $2.6B Angeles Wealth (Citywire)
Private equity firm Great Hill Partners has named Jonathan Bank as Head of Revenue Operations (businesswire)
Previously at Kirkland & Ellis LLP, Ashlee Newmanjoins Z Capital Group as Head of Legal, Investment Funds(businesswire)
Allen Eickelberg has taken on the role of Chief Operating Officer at $3.2B Virginia-based Bogart Wealth (WealthManagement.com)
Mutual Fund Leader Makes Moves to Adapt to the ETF Era
Capital Group, long known for its low-profile culture and dominance in actively managed mutual funds, is undergoing one of the biggest strategic shifts in its 94-year history as it faces persistent outflows and intensifying competition from ETFs and private markets giants. Under CEO Mike Gitlin, the $3.3 trillion firm is rolling out a high-visibility marketing push, expanding its ETF lineup, and deepening its partnership with KKR to deliver private market products to retail investorsâa move designed to match rivals like Blackstone and Apollo in courting mass-affluent wealth. The collaboration includes Capital Groupâs first target date fund blending public and private assets, along with model portfolios and co-managed credit funds that have already gathered more than $500 million. While the firm still commands deep distribution ties with advisors and tens of millions of households, the transition marks a cultural and operational pivot away from its historically secretive, mutual fund-centric identity as it races to stay relevant in a shifting landscape.
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