This Week in Wealth Management Deals: March 22nd


    The last week of March saw a surge in mergers, acquisitions and advisor movements, a strong comeback from the relatively few deals of the previous week.

    MAI Capital bought Ownership Advisors, Inc. to expand its presence in Cleveland. Raymond James gathered a handful of consultants from wirehouses and added over $ 500 million in assets under management to his total assets under management. and Investment Counsel was acquired by LaFleur & Godfrey, a Focus Financial Partners company.

    See below for more mergers, acquisitions, and advisor changes in the week of March 29, 2021.

    Rockefeller Capital Management Secures 50th Acquisition

    Rockefeller has added Adapt Partners, a wealth management firm with $ 630 million in assets under management, from UBS to its private wealth management business. Adapt Partners is based in San Antonio, Texas and includes James Augustine, David Lloyd Jr., Charles Hoffman Jr., Jeffrey Anderson, and Londa Willems.

    LPL is recruiting a $ 215 million team from the Advisor Group

    Financial advisors Steven Allison, Jonathan ‘David’ Cummings and Raymond Empkey of Hurst, Texas joined JFC Financial Services, a subsidiary of LPL Financial. The company comes from Securities America, a broker-dealer for the Advisor Group.

    Merrill Lynch loses a Maryland team to Wells Fargo Financial Network

    Advisor Steven Cohen and his customer service representative Leticia Murakami joined forces with former Bank of America Merrill Lynch colleague Don Dearie in their new company Seventy2 Capital, a Wells Fargo FiNet firm with $ 1 billion in assets under management, reunited. Dearie left Merrill in October. The company is based in Bethesda, Md.

    Rosenblum Wealth Management joins the Advisor Group

    Advisor Group’s subsidiary, SagePoint Financial, recruited a $ 173 million AUM company with two locations including Jupiter, Florida and Flemington. NJ Rosenblum Wealth Management is led by CEO Lee Rosenblum and focuses on investment management services, tax services, life insurance products and long term care solutions.

    Boenning & Scattergood acquires the wealth management company Columbus Macro

    Boenning & Scattergood, parent company of RIA 1914 Advisors, has acquired Craig Columbus’ asset management company with nearly $ 1 billion in assets under management. Columbus Macro, a company based in Neshannock, Penn. has $ 370 million under management under the company’s March 2020 ADV. Boenning said the acquisition marks the beginning of the expansion of its wealth management firm.

    Kestra recruits mother-daughter duo

    Consultant Deborah Trouw and her daughter and future successor Natalie Trouw from Elevation Financial Group in Santa Fe, New Mexico, joined Kestra Financial. Elevation Focuses offers financial planning and investment management and specializes in legacy planning. The company has $ 75 million under management.

    Arete Wealth completes acquisition of Center Street

    Arete Wealth, an independent broker / dealer, RIA and insurance company in Chicago, has completed the acquisition of Center Street Securities. Center Street is a Nashville broker / dealer with an AUM of $ 1.04 billion and Arete Wealth with an AUM of $ 5.5 billion and 265 registered agents.

    Johnson Wealth Management is affiliated with Prospera Financial Services

    Johnson Wealth Management consultants David Johnson and Brandon Stockman have joined Prospera Financial Services. Johnson Wealth manages $ 85 in AUM and has a location in Buckeye, Arizona operated by Johnson and another in Fortuna, California. run by Stockman.

    Former Wells Fargo Advisors launch RIA

    Consultants Thomas Pappas and his two sons Matthew and Michal left Wells Fargo to start their own company Cottonwood Wealth Strategies in Salt Lake City, Utah.

    Beacon Pointe Completes Acquisition of Wealthstreet Investment Advisors

    Beacon Pointe, a Newport Beach, Calif. Company with an AUM of over $ 5 billion, has acquired its largest company. Beacon Pointe announced Thursday that it had completed its acquisition of Wealthstreet Advisors, a Dallas, Texas company, with an AUM of more than $ 1 billion.

    HawsGoodwin Wealth is hiring David Hardenbergh

    HawsGoodwin Wealth, a Franklin, Tennessee-based RIA, recruited advisor David Hardenbergh of MML Investor Services. Hardenbergh joined as an Associate Wealth Advisor.


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