This week in wealth management offers


    Avantax, the asset management arm of Blucora, has acquired a company valued at $ 1.1 billion. New Jersey-based Headquarters Advisory Group joins Avantax’s in-house asset management firm through Avantax’s independent b / d channel.

    The Wealth Enhancement Group gained a team of 11 on its ninth acquisition. With the addition of Serafini Financial Group’s assets under management of $ 853 million, WEG’s total client assets increased to $ 39 billion.

    Below are other advisor changes and mergers and acquisitions you may have missed in the week of August 2nd.

    Axos Financial Completes Acquisition of E-Trade Advisor Services

    Axos Bank’s parent company, Axos Financial, has completed the acquisition of E-Trade Advisor Services. Axos bought E-Trade’s custody business from Morgan Stanley for $ 55 million to raise $ 24.8 billion in assets under custody and $ 1.2 billion in customer funds.

    Merit Financial Advisors takes over Consilium Financial Group

    Georgia-based Merit Financial expanded its presence in Atlanta with the acquisition of Consilium Financial Group. Consilium manages $ 291 million in client assets and was previously associated with Ronald Blue & Co. before joining Merit’s independent consultant partner program in 2015. The company was founded by Kirk Wilkerson and Andy Lubben.

    Capstone Financial Partners joins LPL Financial

    Consultants Robert Allen, Marcel Morin and April Davis of Capstone Financial Partners in Glen Allen, Virginia, moved their firm from Kestra Financial to LPL. Portfolio strategist Brad Gibson and client advisor Stephanie Young also joined. The team managed $ 170 million.

    Cetera adds Brumbaugh Wealth Management

    Brumbaugh Wealth Management, a Pennsylvania-based firm with more than $ 300 million in assets under management, joined Cetera from Lincoln Financial Advisors. Brumbaugh was founded in 2004 by Kimberly Brumbaugh.

    Two consultants leave Merrill for Stifel

    Maurice “Mo” Schutte and Will Rowe joined Stifel, Nicolaus & Co from Merrill Lynch. The two consultants in Frontenac, Missouri, had assets under management of $ 200 million.

    Ameriprise scores with consultants from the California credit union

    Eleven consultants in San Diego and Los Angeles joined Ameriprise Financial. They manage a total of approximately $ 750 million for California Credit Union customers.


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