$1.2B Minnesota-based Shafer Block Wealth Management has left UBS for NewEdge Wealth (AdvisorHub)
Raymond James has snagged Scientia Wealth Partners, a former UBS team generating roughly $4M in annual revenue (Advisor News Network)
Newcoast Wealth Advisors has ditched UBS for Merrill Lynch, bringing in $1.2B in assets (AdvisorHub)
LPL has brought on $385M Horizon Wealth Management Group from Wells Fargo(Pulse2.0)
Industry Updates
M&A Highlight
Creative Planning has agreed to acquire Portland-based institutional investment consultancy RVK, which advises clients overseeing roughly $4.3 trillion in assets. The deal is expected to close in January 2027.
The acquisition expands Creative Planning’s capabilities in the “mega-plan” institutional market, adding roughly 200 clients across public retirement systems, nonprofits, corporate retirement plans and ultra-wealthy families.
Creative Planning CEO Peter Mallouk said the deal was financed with a combination of cash and stock and praised RVK’s product-neutral model, noting that the consultancy does not offer proprietary investment products or manage client assets on a discretionary basis.
The transaction continues Creative Planning’s expansion into institutional and retirement services following its acquisitions of SageView and Lockton’s $110 billion 401(k) business.
Adams Street Partners has named Alec Kersman as Partner & Global Head of Client Solutions (BusinessWire)
Previously at Golub Capital, Alan George has joined Silver Point Capital as Head of Credit Financing and Leverage Solutions(PRNewswire)
Choreo has appointed Kelly O’Donnell, formerly at Edelman Financial Engines, as Chief People Officer(WealthManagement.com)
Daniel Burton-Morgan has joined Lazard as Managing Director and Head of Equity Capital Markets Advisory, North America(Pulse2.0)
Industry Updates
Hedge Funds Take on Larger Role
The U.S. Treasury market is facing increased volatility as hedge funds take on a larger role while traditional long-term investors retreat. Hedge funds held roughly $2 trillion of Treasurys at the start of 2026, more than double their holdings five years earlier and representing a record 7% of the market. Meanwhile, pension funds have reduced fixed-income allocations as they seek higher returns in private debt, real estate and infrastructure. Hedge funds’ growing use of leverage, including through basis and relative-value trades, has prompted the New York Fed and other central banks to examine potential risks to market stability. While hedge funds can provide liquidity and support smoother trading and bond auctions, their short-term investment horizons could amplify stress if they rapidly unwind leveraged positions. Rising Treasury yields add to concerns, with the 10-year yield recently reaching 5% amid inflation, geopolitical uncertainty, and persistent U.S. fiscal deficits.
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, banks, trusts, 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.
