$13B Boston North Shore Group has left Morgan Stanley's Graystone Consulting division to join Merrill Lynch (Citywire)
$2B Wells Fargo team, Coffin, Lamar, Sims & Hannah Private Wealth Management Group, has joined &Partners, rebranding as32 North Wealth (Pulse2.0)
Managing a combined $520M, M Group Investment Advisors and Kamal Capital Group have left LPL and Merrill Lynch respectively to join Summit Financial (AdvisorHub)
$1.5B Focus Wealth Management has ditched Merrill Lynch for RBC in Palm Beach Gardens, FL (AdvisorHub)
Corient's Major Deal
Corient has agreed to acquire $21 billion NY-based RIA Summit Trail Advisors, with the transaction expected to close in the third quarter of 2026.
Summit Trail, founded in 2015 with support from Dynasty Financial Partners, is more than 90% employee-owned and is led by managing partner Jack Petersen, a former Barclays advisor
The deal follows reports that Summit Trail had hired Ardea Partners to explore a sale, with Corient CEO Kurt MacAlpine calling the acquisition a validation of the firm's partnership model and business strategy
Corient oversees $556 billion in client assets and is backed by Mubadala Capital through its ownership of both Corient and CI Financial
Matt DenBleyker, former Director of Private Markets at Lee Financial, has been named CIO of Quincy Wells Advisors (BusinessWire)
President and CEO of CWB Wealth, Jim Andrews, has joined Verecan Capital Management as CFO (BusinessWire)
Star Mountain Capital has named Michael Patchen, co-founder of AI software company Colleva, as Senior Advisor (CityBiz)
Brian Katz, previously at Focus Partners Wealth, has been named CIO of Prosperity, the in-house RIA of EisnerAmper (Citywire)
Family Offices Take on Risk
Family offices are preparing to take on greater investment risk as they increase exposure to alternative assets, according to a new Ocorian survey of family office executives and family members representing $119.4 billion in wealth across 16 countries. Three-quarters of respondents expect their risk appetite to rise over the next year, with improved transparency around higher-risk investments cited as the leading driver. Falling interest rates, the strong performance of AI and technology stocks, and geopolitical uncertainty were also key factors influencing investment decisions. Alternative assets remain a major focus, with every respondent planning to increase private equity allocations over the next two years. Nearly all also expect to raise investments in private capital, private debt, infrastructure, and real estate. ESG considerations continue to play an important role, with 79% expecting sustainability to become an even greater priority over the next three years. The findings reflect intended strategies rather than confirmed allocation changes.
FINTRX is the leading private wealth intelligence platform, offering the industry's most expansive and up-to-date data on registered investment advisors, broker-dealers, wealth teams, family offices, endowments, and foundations. Powered by industry-leading AI, FINTRX helps firms distribute funds, raise capital, recruit advisors, identify M&A targets, and drive strategic growth. FINTRX now provides access to data and intelligence covering 850,000+ financial firm and contact records, including more than 4,600 family offices and 45,000 RIA and broker-dealer firms. To learn more or request a trial, click below.
.png?upscale=true&width=220&upscale=true&name=images%20(13).png)
.jpeg?upscale=true&width=120&upscale=true&name=images%20(9).jpeg)
.png?upscale=true&width=200&upscale=true&name=images%20(14).png)
.png?upscale=true&width=200&upscale=true&name=images%20(15).png)
