Goldman Brings Private Credit to 401(k)s, Stratos Sells to SEI for $527M, and RIA M&A Hits Record Pace in this week’s edition...
Take a Lap Around the Industry 🏃
Goldman Launches Private Credit CIT for Retirement Plans (Citywire)
$12B Bleakley Financial Group Unveils Rebrand as OnePoint BFG (Citywire)
Edward Jones, Franklin Templeton Beef up SMA Menus Amid Industry Growth (InvestmentNews)
Osaic Pursuing $4.3B Debt Capital Raise for $850M CW Deal and Refi (Citywire)
SEI Buys Majority Stake in Stratos Wealth for $527 Million(AdvisorHub)
Family Office Deal Tracker
UK Solar energy company, Sunsave, has raised $152M in a Series A round with support from Michael Spencer's IPGL Holdings
Thiel Capitalhas participated in a $187M Series C funding round for VARDA, a US-based space manufacturing company
One Biosciences, a biotech company that incorporates AI to help identify therapeutic targets, has received over $16M in a Series A round with participation from the Invus Group Family Office
Saudi-based Baraya Extended Care, a specialized rehabilitation and long-term care provider, has raised $124M in a Series B round with backing from The Olayan Group
RIA M&A Poised for Record Year as Q2 Activity Surges according to Echelon's Q2 Deal Report
Record-Breaking Momentum: With 102 RIA M&A deals in Q2 totaling $828B in assets, 2025 is on pace for 380 transactions, potentially surpassing all prior years
Strategic Acquirers Lead: Nearly 87% of deals involved strategic buyers, with top acquirers including Merit, Carson, Mariner, and Mercer Advisors; 40.9% of all deals year-to-date involved firms over $1B in AUM
Private Equity & WealthTech Trends: PE-backed minority investments account for 12% of deals, while WealthTech is on track for 130 transactions in 2025, slightly behind last year’s pace but still active
Innovative Wealth Team has joined Osaic; the $700M team will help to boost the W-2 model’s succession planning support, offering advisors "a turnkey succession and continuity partner" (WealthManagement.com)
$20B New Jersey-based Summit Financial has added four new firms that collectively manage $1.2B in assets (WealthManagement.com)
Two advisor teams depart Stifel for new firms: Robert E. Chanin took his $750M team to Raymond Jamesin early July, while a separate seven-person team managing $650M joinedNewEdge Advisors (AdvisorHub)
Bay Area advisor Adam Spiegelman has left Commonwealth to launch his own RIA, Spiegelman Wealth Management, ahead of the firm's anticipated sale to LPL (WealthManagement.com)
Reps On the Move ↗️
Jeffrey Ringdahlhas stepped down from his role as President and Chief of Operations of $24B Summit Trail after only two months (AdvisorHub.com)
Former Osaic RIA Solutions executive and Goldman Sachs alum Scott Hadley has joined Hightower Advisors as Chief Advisory Officer, a newly created role (WealthManagement.com)
Advisor Mike Wood has departed Truist to join $40B Steward Partners in Norfolk, VA(PRNewswire.com)
HNW Goldman Sachs advisor Daniel Carollo, based in Florham Park, NJ, was snagged by RBC(InvestmentNews.com)
Advisors Embrace Evolving Private Equity Landscape to Broaden Client Access and Opportunity
Financial advisors are increasingly embracing private equity (PE) as alternative assets become more mainstream in client portfolios. To meet this demand, PE firms are launching innovative fund structures like evergreen and interval funds, which offer lower minimums, quarterly liquidity, and more transparent fee models. These changes address traditional barriers such as illiquidity and complex tax reporting, making PE more accessible to high-net-worth individuals. Advisors highlight the rise of secondaries, evolving fee structures, and the digitization of investing processes as key trends. Some advisors note high growth potential in venture growth equity, especially in sectors like AI, while others point to new opportunities in areas such as sports ownership as the path into PE. Christian Salomone, CIO at Ballast Rock Private Wealth, emphasizes the ongoing expansion into adjacent asset classes and infrastructure due to strong demand for liquidity and technological transformation. Collectively, these shifts reflect a broader movement to democratize PE and integrate it into diversified wealth strategies.
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