Wealth Management Acquisitions in 2022

STP Investment Services has acquired WealthSite, a provider of accounting, portfolio management, reporting and analytics software for family offices and wealth advisory firms. The deal will expand STP's BluePrint platform capabilities and brings STP's assets under administration to over $400 billion.

Verso Wealth Management, a portfolio company of Cairngorm Capital, has acquired Heritage Independent Financial Advisers Limited to expand Verso's presence in the Midlands. Heritage, founded in 2003 and based in Knowle, West Midlands, has a team of 17 and provides specialist financial advice to high-net-worth individuals, families and corporate clients.

Verso Wealth Management, a Cairngorm Capital-backed wealth management platform, has acquired IEP Financial Limited, a Hove-based financial advice firm with 34 staff and £525m of advised assets. The add-on expands Verso’s presence across the South East and increases group AUM to over £1.8 billion as part of Verso’s continued buy-and-build strategy.

Carson Group has acquired Northface Capital Holdings, LLC, a Waltham, Massachusetts-based financial planning and wealth management firm with $200 million in assets under management. The Northface team — now led by Chris Tobey — sold its ownership to Carson and the office will transition to a wholly owned Carson Wealth location to provide continuity, succession planning and support for future growth.

Wealthspire Advisors LLC (an NFP company) signed an agreement to acquire Sage Financial Advisors, Inc., a Nevada-based registered investment advisor that manages approximately $194 million in assets and maintains an office in Reno. The deal expands Wealthspire’s presence in the western U.S.; the transaction is expected to close in Q4 2022, subject to customary approvals.

EP Wealth Advisors, a PE-backed independent registered investment adviser, has acquired Warren Financial Services & Associates, a Philadelphia-area wealth advisory firm. The deal closed Nov. 29, 2022, adds roughly $274 million in AUM and brings the Warren team (founder Randall Warren plus four advisors and four support staff) into EP Wealth's platform as part of its continued geographic expansion on the East Coast.

Modera Wealth Management expanded into Northern Virginia by acquiring the Bernhardt Wealth Management team in November 2022. The entire Bernhardt team (including Gordon Bernhardt, Tim Koehl and Solon Vlasto) joined Modera to strengthen Modera’s fee-only wealth management footprint and client service capabilities in Virginia.

Logiq, Inc. (OTCQX: LGIQ) has signed a non-binding letter of intent to acquire a privately held operating company ("PrivCo") that operates in the financial technology sector specializing in wealth management. The transaction contemplates a share exchange of newly issued Logiq shares for 100% of PrivCo's shareholder interests (preliminarily valued at $220–$250 million), with PrivCo to become a wholly owned subsidiary and expected to close by March 31, 2023, subject to a definitive merger agreement and Logiq's pending de-SPAC with Abri SPAC I.

Wealth Enhancement Group, a national independent wealth management firm, has acquired BTR Capital Management, Inc., an Oakland-based independent RIA that manages more than $1 billion in client assets. The acquisition expands Wealth Enhancement Group’s presence in Northern California (bringing WEG to nine offices in the region) and adds BTR’s team of nine advisors and five support staff to WEG’s platform.

Choreo, LLC has entered into an agreement to acquire Cherry Bekaert Wealth Management LLC, a Southeast-based wealth management business with approximately $1 billion in assets under management and advisement. The deal includes a strategic partnership with Cherry Bekaert Advisory LLC, is expected to close by year-end (subject to customary conditions), and expands Choreo’s AUM to roughly $14.5 billion post-close.

Kingswood has acquired Glasgow-based Strategic Asset Managers Limited, marking Kingswood’s first acquisition in Scotland and bringing the firm’s 2022 total to ten deals. The deal adds three advisors and approximately £200m of assets under advice, expanding Kingswood’s client-facing advisory team and regional presence across the UK and Ireland.

Choreo, an independent registered investment adviser, has agreed to acquire Enso Wealth Management, a Petaluma, California-based RIA managing about $1.8 billion in client assets. The deal expands Choreo's West Coast footprint and increases its assets under management to approximately $13.5 billion; terms were not disclosed and the acquisition is expected to close before year-end.

Allworth Financial acquired the advisory teams and client relationships from Journey Advisory Group’s Gold River, California and Temple, Texas offices, adding approximately $215 million in AUM. The transaction expands Allworth’s regional presence and client base while allowing Journey Advisory Group to focus on its Midwest operations.

Houston-based private investment firm Platform Partners LLC completed a minority investment in July Business Services, LLC (JULY), a fintech retirement plan administration and 401(k) recordkeeping provider. JULY’s management team will remain in place and retain a significant ownership stake as Platform provides capital and support to accelerate the company’s growth and product development for financial advisors and small-to-medium-sized businesses.

Advanta Solutions, the Beech Tree-backed wealth management platform, has acquired London-based advice firm Genesis Financial Planning Ltd in an undisclosed deal that adds approximately £150m of AUM to Advanta. The acquisition brings Genesis founder Adam Horn, his clients and staff into Advanta as part of the platform's ongoing roll-up strategy of acquiring high-quality adviser firms from retiring owners.

Wealth Enhancement Group has acquired Scroggins Wealth Management, an independent RIA that oversees more than $370 million in client assets and operates offices in New Lenox, Illinois, Naples, Florida and Fort Myers, Florida. The deal marks Wealth Enhancement Group's 11th acquisition in 2022 and expands its national footprint and client assets to more than $57.7 billion.

The Mather Group, a Chicago-based wealth management firm with approximately $8.4 billion AUM, has acquired Cedar Financial Advisors, an RIA based in Beaverton, Oregon with about $107 million in AUM. The deal adds a Portland-area office to TMG's footprint and provides succession planning for Cedar's founders while expanding TMG's local advisor presence in the Pacific Northwest.

Apella Capital, a Glastonbury, Connecticut-based RIA, has acquired Structured Asset Management, a Berwyn, Pennsylvania–based registered investment advisor, adding approximately $140 million in AUM. The Structured team, led by founder Bill Suplee, will join Apella (with Suplee becoming Senior Financial Advisor); the deal, completed Sept. 30, 2022, was executed jointly with investor Wealth Partners Capital Group.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Jordan Financial Strategies, LLC, a Denver-based wealth management firm with approximately $120 million in AUM. Founder Kristy R. Jordan and her team will join Mercer as part of a succession plan, strengthening Mercer's Denver presence and expanding client services through Mercer’s broader wealth management and family office capabilities.

Horizon Capital will take a majority stake in Boston Multi Family Office (Boston MFO), one of the Isle of Man's leading trust and fiduciary services businesses, as Rockpool Investments and management shareholders exit. The investment will support the management team to continue growing the business organically and through acquisitions; the deal remains subject to regulatory approval.

Allworth Financial acquired Second Opinion Partners, a Riverwoods, Illinois-based RIA with $440 million in assets, as part of its continued roll-up strategy. The deal expands Allworth's Midwest/Chicago-area presence and is the firm's 23rd acquisition in four years (and its second announced that day).

Trilogy Financial Services, a national wealth management firm headquartered in Huntington Beach, California, has acquired two independent advisory practices: E. F. Heagen & Associates and Mandichak Investment Retirement & Estate Planning. The additions bring more than $160 million in brokerage and advisory assets and over 500 clients to Trilogy as part of its strategy to partner with mature advisory practices and support advisor succession.

Verso Wealth Management, a portfolio company of Cairngorm Capital Partners LLP, has acquired Campbell Thomson Insurance Services Limited, marking Verso's fifth acquisition and its first in Scotland. The deal expands Verso's advisory footprint into Glasgow, brings Campbell Thomson's ~£315 million of advised assets under management onto the Verso platform, and increases the platform's total AUM to over £1 billion.

Apollon Wealth Management announced the addition of the Westside Wealth Management team, led by Seth Radow, Luke Dillon and Kirk Aguer, with offices in Los Angeles, California and Nashville, Tennessee. The Westside team, formerly with Raymond James, joins Apollon to provide wealth management and fiduciary services to high-net-worth individuals, multi-generational families and corporate retirement plans.

Lido Advisors LLC has closed its acquisition of Enterprise Trust & Investment Company (ETIC), a California-chartered trust company headquartered in Los Gatos. The deal expands Lido's wealth management capabilities by adding ETIC's trust and fiduciary services to Lido's comprehensive wealth planning offering; financial terms were not disclosed.

The Mather Group, LLC (TMG), a Chicago-based fee-only wealth management firm, has acquired HC Financial Advisors Inc., a Lafayette, California registered investment adviser with approximately $478 million in AUM as of July 31, 2022. The HC principals and team joined TMG, expanding TMG's Bay-area footprint and enabling enhanced services and technology for HC's high-net-worth clients.

The Mather Group (TMG), a Chicago-based wealth management firm with roughly $7.5 billion AUM, has acquired Houston-based Semita Asset Management LLC, a registered investment adviser with about $71 million in AUM. Semita CEO Michael Meagher and Director of Financial Planning Justin Reede joined TMG as part of the transaction, which expands TMG's advisory capabilities and high-net-worth client coverage.

MGO Investment Advisors and One Seven have merged to combine their advisory teams and assets under management, creating a firm that now manages $2.8 billion across 11 U.S. states. As part of the strategic combination, Merchant Investment Management made a minority, non-controlling growth investment in One Seven to support durability and accelerate the combined firm's expansion and advisor-focused initiatives.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Mallard Advisors, LLC, a Hockessin, Delaware-based wealth management firm that serves 109 clients with approximately $165 million in AUM. Founder William D. Starnes and his team joined Mercer as part of a succession plan while Mercer expands its presence in Delaware; financial terms were not disclosed.

Mariner Wealth Advisors acquired Bloomfield Hills-based Heber Fuger Wendin Investment Advisors (HFW) at the end of July 2022. The acquisition expands Mariner's client roster and capabilities by adding HFW's niche advisory services for community banks and credit unions and its $8.6 billion in AUM, while HFW staff remain in place under the Mariner name.

The Mather Group (TMG), a Chicago-based wealth management firm with roughly $7.5 billion AUM, has acquired Seiffert Ltd., a Bethesda, Maryland registered investment adviser managing about $65 million in client assets. The transaction brings Seiffert's founder and key staff into TMG and provides succession planning for the founder while giving Seiffert's clients access to TMG's broader platform and services.

Alera Group Wealth Services, a division of Alera Group, has acquired Johnson Brunetti, a Connecticut-based retirement and investment specialist that manages approximately $1.5 billion in RIA client assets and oversees another $1.5 billion of annuity and insurance assets. The acquisition adds geographic presence in the Northeast and Atlanta and is intended to leverage Alera's back-office, technology and centralized investment services; terms were not disclosed.

Private equity–backed Clearstead Advisors has acquired Scott Snow (financial advisors) LLC, an eponymous Westlake, Ohio wealth management firm founded by Scott Snow. The add-on transaction expands Clearstead’s private wealth management capabilities and adds roughly $530 million to the firm’s assets under advisement as it grows its inorganic acquisition program.

Preservation Capital Partners (PCP) signed a definitive agreement to become the major shareholder of Saltus, a founder-led UK wealth management and financial planning firm. PCP will back Saltus' management to accelerate organic growth and M&A-driven expansion as Saltus targets further scale after reaching roughly £4bn AuM and serving about 7,000 clients.

LNC Partners, a private equity firm, made a strategic growth investment in GCG Advisory Partners to accelerate GCG’s acquisition pace and support its “Monetize & Stay” platform strategy. The capital will help GCG expand its succession and liquidity solutions for advisor practices and enhance its technology and back/middle-office capabilities.

Defined Financial Planning of Alameda, California has acquired Annadel Capital of San Rafael. The deal combines the two independent financial advisory firms to expand client services—providing Annadel clients access to Defined Financial Planning’s holistic retirement planning system and Defined clients access to CPA services—and supports succession planning for Annadel’s owners.

Informed Family Financial Services, a Norristown-based wealth management firm, has acquired Strategic Wealth Advisory and will merge the practices under the Informed Family Financial Services brand. The deal brings two staff members and two offices (in Reading and the Lehigh Valley) into Informed Family's platform, and Strategic Wealth Advisory's president Earl D. Schultz and advisor Shannon LaRosse join the expanded team.

Wren Sterling Group has acquired Oxford-based Critchleys Financial Planning LLP, bringing approximately 300 households and about £150 million of assets under advice into Wren Sterling. The deal creates a new Oxfordshire hub for Wren Sterling and is a bolt-on acquisition aligned with the firm's strategy to expand its regional hubs and grow AuM following its Lightyear Capital-backed secondary management buyout.

B.O.S.S. Retirement Solutions and Advisors has merged with Bellevue-based Becker Retirement Group, with the Becker team — including founder Randy Becker — joining the B.O.S.S. firm. The deal expands B.O.S.S.'s advisory footprint in the Pacific Northwest and adds retirement-planning capabilities such as Social Security maximization and female-focused programming.

MAI Capital Management (MAI) has acquired Winfield Associates, a financial planning and wealth management firm, in a deal that closed June 24, 2022. The acquisition adds more than $368 million of assets under management to MAI, brings Winfield's key executives into MAI’s leadership team, and expands MAI’s presence in the Cleveland market as part of its ongoing M&A growth strategy under Galway Holdings.

Slate Asset Management has completed the acquisition of Presima, a Montreal-based specialist investment manager focused on global real estate securities, adding approximately $1.1 billion in assets. The deal, which closed on June 10, 2022, brings a team of investment professionals to Slate and expands its public market real estate investing capabilities in North America.

Audax Private Equity completed a strategic growth investment in The Harbourfront Group, valuing the Vancouver-based wealth management platform at an enterprise value of CAD $425 million. The minority investment will provide liquidity to Harbourfront’s shareholders (including its team of investment advisors) and support the company’s organic growth and buy‑and‑build acquisition strategy across Canada.

Genstar Capital led a recapitalization of Cerity Partners, with existing investor Lightyear Capital remaining invested. The transaction will support Cerity Partners' continued growth and strategic expansion as the wealth management firm scales its services across the U.S.

Creative Planning LLC has acquired Rosen Capital Management, a Macon, Georgia-based wealth management firm managing $114 million in AUM and bringing two employees (including CEO Glenn Rosen) into Creative Planning. The deal expands Creative Planning’s footprint in Georgia; Incap (Baltimore) served as financial advisor to Rosen Capital Management.

Lovell Minnick Partners (LMP) has signed a definitive agreement to acquire a majority stake in London & Capital, a London-based wealth and asset manager with £4.1 billion AUM. London & Capital's management and the Freedman family will retain a significant minority stake and reinvest; the deal is intended to support international expansion, technology investment and accelerated growth.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Bivin and Associates, Inc., a Ponca City, Oklahoma wealth management firm with approximately $130 million in AUM. The entire Bivin team will join Mercer, expanding Mercer's Midwest presence and adding local advisory capabilities while providing Bivin clients access to Mercer’s broader back-office, estate planning and tax services.

Allworth Financial has acquired Adams Chetwood Wealth Management Group, a Durham, North Carolina RIA that manages over $300 million in client assets. The deal expands Allworth’s footprint in the Southeastern U.S.; financial terms were not disclosed and Adams Chetwood was represented by Republic Capital Group.

Allworth Financial has acquired UAS Wealth Advisors of Albuquerque, New Mexico; financial terms were not disclosed. UAS manages about $427 million in assets for roughly 290 clients and the deal expands Allworth's Southwest footprint while enabling a leadership succession plan for the UAS advisors.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Fure Financial Corporation, a Bloomington, Minnesota-based Registered Investment Adviser that manages approximately $260 million in AUM for about 300 clients. The Fure Financial team will join Mercer Advisors as the firm expands its Central U.S. / Twin Cities presence and gains back-office scale and additional service capabilities for clients.

Wealth Enhancement Group, a Minneapolis-based independent wealth management firm, has acquired Kings Point Capital Management, an independent RIA with offices in Great Neck, New York and Brentwood, Tennessee. The deal brings Kings Point’s $1.7 billion in client assets onto Wealth Enhancement Group’s platform, increasing the firm’s total client assets to about $55 billion and adding a team of five advisors plus 11 support staff.