Ex-Commonwealth Teams Launch New RIAs, Beacon Pointe Makes Six Acquisitions, and J.P. Morgan Gets Global CEO in this week's edition...
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Family Office & RIA Roundup

Volume 146 • 7/10/2025
 
Ex-Commonwealth Teams Launch New RIAs, Beacon Pointe Makes Six Acquisitions, and J.P. Morgan Gets Global CEO in this week's edition...

Take a Lap Around the Industry 🏃

  • BlackRock to Buy $7.3B Real Estate Firm (Citywire)
  • $3.8B Dynasty Affiliate DayMark Wealth Partners Exploring Sale: Sources (Citywire)
  • Angeles Equity Partners and Kain Capital Merge Occupational Health Companies (WSJ)
  • Constellation Wealth Takes Minority Stake in $20B Merit Financial (WealthManagement.com)

Family Office Deal Tracker

  • Ship financing platform, Neptune Maritime Leasing, has raised $95M in a post-IPO round with support from LATSCO Family Office S.A.
  • James Simons' family office, Euclidean Capital, has participated in a $72M Series B funding round for Savvy Wealth, a digital platform for financial advisors
  • Founded by Harvard grads, GenesisAI has received $105M in a Venture round with participation from Eric Schmidt's family office, Hillspire
  • Dubai-based Huspy, a startup that simplifies home financing, has raised $59M in a Series B round expanding its presence in Europe with backing from Dara Capital Family Office

Source: FINTRX

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Team Movements & RIA Launches 🚨

  • Two teams—MD Wealth Management and JS Wealth Management Group—managing a combined $570M, have left Janney Montgomery Scott for a new RBC branch in Franklin, Tennessee (AdvisorHub)
  • Led by Trevor Ricks and James Vender, Chicago-based team, Blue Lake Group, has joined Wells Fargo from Morgan Stanley (Advisor Hub)
  • Two Commonwealth teams managing a combined $1B have decided against joining LPL, instead launching independent RIAs: Milestone Financial Associates in Macungie, PA and Spiegelman Wealth Management in Walnut Creek, CA (AdvisorHub)
  • $700M Kaye Capital Management marks the third California firm to be acquired by Modern Wealth in 2025 and the17th acquisition since Modern Wealth was founded just over two years ago (Citywire)

M&A Highlight

 

Beacon Pointe Advisors added over $2.7B in client assets through six RIA acquisitions over the past 60 days, pushing their total AUM to $47B.

  • The acquired firms span the U.S., including California, Texas, Ohio, Massachusetts, and Wisconsin, strengthening Beacon Pointe’s geographic presence particularly with its first entry into Ohio and an expanded Bay Area footprint
  • The acquired RIAs bring varied client focuses, from high-net-worth business owners and women-centric planning to executives and entrepreneurs, with standout deals including $1B+ firm Waypoint Wealth Partners and $600M Jentner Wealth Management
  • With backing from KKR since 2021, Beacon Pointe now has 600+ employees across 65 offices and is accelerating their M&A activity following a quieter start to 2025

Source: Citywire

Reps On the Move ↗️

  • David Frame has been promoted to global CEO of the private bank unit within J.P. Morgan (WealthManagement.com)
  • Former Rockefeller managing director James Chirdo has joined LinePoint Partners, a Los Angeles-based family office, as chief operating officer and chief compliance officer (Citywire)
  • Former BofA Private Bank managing director and executive, Paul Trippe, leaves retirement to join $3B Fidelis Capital as partner (WealthManagement.com)
  • The alternative investment firm, Stonepeak, has snagged Wellington Management’s previous global head of wealth management, Cindy Marrs (Citywire)

From Wall Street to Main Street: The Rise of Retail Private Credit 

Private credit, once reserved for pension funds, insurers, and the ultra-wealthy, is rapidly moving into the financial mainstream. Fueled by innovation, lower investment minimums, and easier access through evergreen fund structures, affluent individuals are beginning to adopt the asset class at scale. According to Oliver Wyman, wealthy individuals now account for 12% of private credit assets at leading firms, with holdings growing 2.5x over the past three years, four times faster than institutional channels. Wealth managers are blending private credit into portfolios using “barbell” strategies, pairing liquid bond ETFs with higher-yielding, less-liquid private credit. As technology simplifies investment processes and firms forge new distribution partnerships, private credit could soon become a core feature in wealth portfolios. Yet challenges remain: managing liquidity, scaling retail distribution, building infrastructure, and navigating emerging regulation. Much like derivatives entering mutual funds in past decades, private credit is on a path to transform modern fixed-income investing.

 

Source: FT

Sharah Roy Email Headshot

Written by:

Sharah Roy

Sr. Research Associate

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