$5.2M Geller Private Wealth, has left Ameriprise to join &Partners and is led by Todd J. Geller(AdvisorHub)
Sanctuary snags 1280 Financial Partners bringing in $2B in clients assets from UBS (Citywire)
Backed by VC firm Funded Ventures, US Army Veteran, Ryan Bowman has launched Terrace Wealth, a new independent RIA (Citywire)
The Atlanta-based RIA support platform, Advisory Services Network, has acquired Harris Wealth Management, bringing total assets accumulated in 2025 to about $650 million (WealthManagement.com)
M&A
Texas-based VisionPoint Advisory Group and Mississippi-based Navitas Wealth Advisors merged to form Balefire, a Dallas-based RIA advising on $3.7B in assets, with nearly 60 employees across nine states.
Balefire aims to reach $42B in AUM, $215M in revenue, and hire over 200 employees within the next decade through advisor integration, firm mergers, and strategic partnerships
The firm seeks to fix “broken” industry practices by helping advisors build scalable business models and deepen client relationships, leveraging technology and operational efficiencies
The merger combined Navitas’ ultra-high-net-worth expertise with VisionPoint’s recruiting and tech capabilities, creating a rare “merger of equals” positioned to serve a broad client base
Ashley Velategui has been appointed as head of Wealth Strategies Group at Bernstein Private Wealth Management focusing on advising ultra-high-net-worth clients (PR Newswire)
Former Colony exec Zinovy losovich has taken on the role of Chief Growth Officer at Focus Partners Wealth (Citywire)
John Lefferts, former Equitable exec, takes on as head of Cetera Investors focusing on operations, technology and marketing (WealthManagement.com)
Coming from J.P. Morgan Private Bank, Russell Budnick will join Citi Wealth as Global Head of Capital Markets in August (WealthManagement.com)
Nvidia and AMD Join Forces with Saudi-backed Humain
Nvidia and AMD are joining forces with Saudi AI firm Humain—a subsidiary of the Public Investment Fund (PIF)—to supercharge Saudi Arabia’s ambitions of becoming a global AI powerhouse. With plans to deploy up to 500MW of AI computing capacity over five years, the initiative will see Humain build hyperscale AI data centers powered by hundreds of thousands of Nvidia GPUs, including the high-performance Grace Blackwell GB300. The project’s first phase includes deploying 18,000 Nvidia GPUs and leveraging the Nvidia Omniverse platform to simulate physical AI and robotics environments. In parallel, AMD will provide a separate AI compute infrastructure stretching from Saudi Arabia to the U.S., supporting open-design, multi-exaflop capabilities for startups, enterprises, and governments. With up to $10 billion committed, this collaboration not only strengthens Saudi's sovereign AI capacity but positions it as a strategic node in the global AI infrastructure race—bridging hardware, sustainable power, and digital transformation.
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