Wealth Management Deals of the Week


CI Financial, an RIA aggregator that has amassed $ 55 billion in US assets since January 2020, starts its wealth management business this week and is acquiring Atlanta-based Brightworth, which has $ 4.7 billion in client assets Dollar managed by Emigrant Partners, which invests in RIA companies. Emigrant Partners did not receive any equity in CI Financial as part of the deal.

Ray Padrón, CEO of Brightworth, said his firm joined CI Financial to help build a US private wealth unit for the Canadian financial services company.

Also earlier this week, San Luis Obispo, California WealthSource, acquired SurePath, an Austin-based RIA led by Patrick and Jeff Brewer, with $ 95 million client assets. Details of the transaction were not disclosed.

While the company is small, Patrick Brewer is also the founder of Model FA, a marketing and performance coaching program for financial advisors. WealthSource intends to involve Brewer and his team to enhance the RIA’s marketing and business advisory efforts for other consultants in their network and to build consumer-centric marketing to attract customers.

In other M&A news Edelman Financial Engines sold a minority of the company to its former investor Warburg Pincus.

In the broker / dealer sector, a former Royal Alliance team, The Monteverde Group, with US $ 440 million under management in LPL Financial. UBS Private Wealth Management recruited a $ 740 million team, Executive Wealth Partners of Kenwood, Ohio, from Bank of America Merrill Lynch. This team is led by consultants Casey Marsh and Austin Poston.

Below are additional mergers, acquisitions, and advisor changes in the week of March 15, 2021.

Rockefeller Capital Management is recruiting the Hambleton Fieler Group

Cincinnati-based Hambleton Fieler Group is moving from Merrill Lynch to Rockefeller Capital Management, where the team managed $ 1.3 billion in client assets. Consultants Ross Hambleton and Michael Fieler and their team of six represent Rockefeller’s first of 49 teams in Ohio.

Ameriprise loses integrated wealth advisor to Commonwealth

Independent broker / dealer Commonwealth Financial Network said it has added Integrated investment advisor in Bellevue, Washington. IWA, a virtual family office advising business owners of $ 3 million to $ 20 million worth of businesses, joins Commonwealth of Ameriprise Financial where it managed $ 100 million in AUM. The firm is led by consultant Austin Collins.

Main Street Financial Life Advisors joins Carson Partners

Main Street Financial Life Advisors, led by consultants Joseph J. Roman and Matthew J. Kulpa, have joined Carson Partners. The team manages $ 163 million in AUM and is based in Moorestown, NJ

FCCB Wealth Advisors Adds Advisor Joseph Garity

Advisor to Joseph Garity based in Kennett Square, PA. has joined FCCB Wealth Advisors, a subsidiary of LPL Financial. Garity was previously with Citizens Investment Services.

Landmark Wealth Management is hiring James Millington

After 10 years with Fidelity Brokerage Services Adviser to James J. Millington joined Landmark Wealth Management, a paid RIA in Melville, NY

UBS Advisor jumps ship to IBD Prospera

Advisor Steven Loerke, founder of the Redwood Advisory Group in Redwood City, California, has joined an independent broker / dealer Prospera Financial Services. Loerke joins from UBS where he managed client assets of $ 100 million.


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