Tracked deals
7
7 tracked deals across 2020-2026.
Wealth Management Buyers & Acquisitions in Iowa
Buyer mix
Strategic-led
7 strategic · 1 pe
Top trend
Volume peaked in 2026
2 tracked deals announced in 2026.
Primary Insight
What Stands Out
- Osaic and Apella Wealth add Iowa-based firms to their advisor platforms, pairing local teams with broader technology, products, and support.
- Team integration is common: acquired teams join the buyer (e.g., Iron Horse Wealth Management and Dickinson Investment Advisors) or transition under a new name in a merger.
- Deals frequently frame benefits as expanded client services and enhanced back-office/operational capabilities (planning, tax, technology).
- Iowa interest spans multiple communities—Ames, Cedar Rapids, Dubuque, Johnston, Council Bluffs, and Glidden—rather than a single metro cluster.
| Buyer | What the transaction highlights (from deal framing) | Iowa footprint impact |
|---|---|---|
| Cerity Partners | Merge to combine wealth management capabilities for high- and ultra-high-net-worth clients | Expands presence into Iowa |
| Osaic | Adds an Iowa firm to a wealth management advisor platform (technology/products/back-office) | Adds Cedar Rapids, IA via IronGate |
| Apella Wealth | Integrates a fee-only RIA team and AUM into Apella’s platform | Johnston, IA becomes a Midwest-based team |
| Waverly Advisors | Acquires and brings in the acquired team | Strengthens Council Bluffs coverage |
| Modern Wealth Management | Asset add-on to expand service offerings and integrate planning/tax | Glidden, IA add-on to centralized capabilities |
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Apella Wealth | 1 | National registered investment adviser (RIA) providing fi... | Strategic (PE-backed) |
| Cerity Partners | 1 | Independent wealth management and investment advisory fir... | Strategic |
| Crestview Partners | 1 | Middle-market private equity firm investing across media,... | PE |
| Mercer Global Advisors, Inc. | 1 | Full-service wealth management firm and national Register... | Strategic (PE-backed) |
| Modern Wealth Management | 1 | National registered investment advisory (RIA) platform th... | Strategic (PE-backed) |
| Osaic | 1 | Wealth management infrastructure platform providing techn... | Strategic (PE-backed) |
| Waverly Advisors, LLC | 1 | Federally registered investment adviser offering investme... | Strategic (PE-backed) |
| Wealth Enhancement Group | 1 | National independent wealth management firm providing com... | Strategic |
Acquisition Volume in Wealth Management in Iowa by Year
Last 4 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
September 18, 2026
- Buyer
- Cerity Partners
- Target
- Gilbert & Cook
- Industry
- Wealth Management
- Location
- Iowa, United States
- Type
- Buyout
Cerity Partners and Gilbert & Cook announced their intention to merge, effective at the end of September, with Gilbert & Cook operating under the Cerity Partners name. The deal expands Cerity Partners’ presence into Iowa and combines both firms’ wealth management capabilities for high- and ultra-high-net-worth individuals, families, and business owners.
-
August 20, 2026
- Buyer
- Osaic
- Target
- IronGate Services
- Seller
- Ameriprise Financial Services
- Industry
- Wealth Management
- Location
- Iowa, United States
- Type
- Buyout
Osaic added Cedar Rapids, Iowa-based IronGate Services to its wealth management advisor platform, bringing approximately $367 million in client assets. IronGate affiliates through Carlson Advisor Networks, an Osaic office of supervisory jurisdiction, to gain technology, investment products, and back-office support while preserving its independent structure.
-
- Buyer
- Apella Wealth
- Target
- Iron Horse Wealth Management
- Industry
- Wealth Management
- Location
- Iowa, United States
- Type
- Addon
Apella Wealth announced that Iron Horse Wealth Management, a fee-only RIA led by Dennis Markway, has joined Apella, adding $574 million in AUM and establishing Apella’s first Midwest-based team in Johnston, Iowa. The entire Iron Horse team joined Apella, with Markway becoming Regional Director; the deal closed June 20, 2025 and brings Apella to $6.08 billion in AUM.
-
January 10, 2025
- Buyer
- Waverly Advisors, LLC
- Target
- Dickinson Investment Advisors
- Industry
- Wealth Management
- Location
- Iowa, United States
- Type
- Addon
Waverly Advisors, a Birmingham-based RIA, has acquired Dickinson Investment Advisors of Council Bluffs, Iowa, with the Dickinson team joining Waverly. The deal closed January 10, 2025, and marks Waverly's 21st transaction since its 2021 equity investment from Wealth Partners Capital Group and HGGC's Aspire Holdings platform, increasing Waverly's AUM to approximately $16.4 billion.
-
September 5, 2023
- Buyer
- Modern Wealth Management, Crestview Partners
- Target
- Midwest Financial
- Industry
- Wealth Management
- Location
- Iowa, United States
- Type
- Addon
Modern Wealth Management, a national RIA backed by Crestview Partners, has acquired the assets of Midwest Financial of Glidden, Iowa. The transaction is an add-on to Modern Wealth's platform intended to expand service offerings, accelerate organic growth, and integrate Midwest Financial into Modern Wealth's centralized planning and tax capabilities.
-
- Buyer
- Wealth Enhancement Group
- Target
- Heacock & Jones Financial Services, Inc.
- Industry
- Wealth Management
- Location
- Iowa, United States
- Type
- Buyout
Wealth Enhancement Group, a national independent wealth management firm based in Minneapolis, has acquired Heacock & Jones Financial Services, Inc., an independent RIA in Dubuque, Iowa that manages roughly $355 million in client assets. The deal expands Wealth Enhancement Group's presence in Iowa and increases its total client assets to more than $66.8 billion.
-
December 31, 2020
- Buyer
- Mercer Global Advisors, Inc. (Mercer Advisors)
- Target
- Marrs Wealth Management, LLC
- Seller
- Marrs Wealth Management, LLC, Craig Marrs, Andra L. Reason, Nathan Brammer
- Industry
- Wealth Management
- Location
- Iowa, United States
- Type
- Buyout
Mercer Global Advisors (Mercer Advisors), a national registered investment adviser headquartered in Denver, acquired Marrs Wealth Management, LLC, an Ames, Iowa-based wealth management firm with approximately $215 million AUM serving ~275 clients. The deal closed December 31, 2020, and four Marrs team members (including founders/LLC members Craig Marrs, Andra Reason, and Nathan Brammer) joined Mercer; the move was driven primarily by succession planning and to expand client services and back-office capabilities.
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Frequently Asked Questions
Which types of wealth management transactions show up most in Iowa?
Most deals are RIA platform expansions—often structured as acquisitions (including add-ons) where advisor teams transition into the buyer’s model—or mergers that combine capabilities under one name.
Do Iowa deals typically involve advisor team integration?
Yes. Several transactions explicitly note that the acquired firm’s team joins the buyer (for example, Iron Horse Wealth Management joining Apella Wealth and Dickinson Investment Advisors joining Waverly Advisors).
What kinds of capabilities do buyers say they want to add?
Deal descriptions repeatedly point to expanded client services and operational support such as centralized planning and tax, plus technology, investment products, and back-office capabilities.
Which Iowa locations appear in recent wealth management acquisitions?
Recent deals reference Iowa locations including Ames, Cedar Rapids, Johnston, Council Bluffs, Dubuque, and Glidden.
Related Acquisition Pages
Wealth Management Buyers & Acquisitions
Wealth Management Buyers & Acquisitions in Canada
Private Equity-Backed Wealth Management Buyers
Wealth Management Acquisitions in 2026
Wealth Management Acquisitions in 2025
Wealth Management Acquisitions in 2023
Wealth Management Acquisitions in 2020
Acquisitions in Iowa
Private Equity-Backed Acquisitions in Iowa
Acquisitions in Iowa in 2026
Acquisitions in Iowa in 2025
Acquisitions in Iowa in 2023