Wealth Management Acquisitions in Maryland

Evermay Wealth Management, a fee-only fiduciary RIA based in Arlington, Virginia, has merged with Novotny, Larash, Venters & Wolf (NLVW), a tax preparation and business advisory firm headquartered in Annapolis, Maryland. The deal brings roughly 25 NLVW professionals into Evermay (operating the tax practice as Evermay Tax LLC under Brandon Wolf, CPA, CFP) and expands Evermay’s capabilities to provide integrated wealth, tax, and business advisory services to NLVW’s ~1,000 clients.

Cerity Partners has merged with SOL Capital Management, with SOL operating under the Cerity Partners name. The combination expands Cerity’s footprint in Maryland and the greater Washington, D.C. area and strengthens its investment and advisory capabilities for high- and ultra-high-net-worth clients; Houlihan Lokey advised SOL Capital and Nelson Mullins served as legal counsel.

Creative Planning has acquired North Bethesda–based Burt Wealth Advisors, adding approximately $1 billion in assets under management to its platform. The acquisition expands Creative Planning's footprint in the Washington, D.C. area and gives Burt Wealth clients access to Creative Planning's broader wealth, tax, trust, and family office services.

MAI Capital Management, a Cleveland-based registered investment adviser, has acquired Court Place Advisors, an Ellicott City, Maryland RIA with $366 million in assets under management. The deal expands MAI’s Mid‑Atlantic footprint and adds $366 million to the firm’s AUM; terms were not disclosed.

Merit Financial Advisors acquired Obsidian Planning Solutions, adding $476 million in client assets and opening two new offices in Rockville and Columbia, Maryland. The deal—Merit's 50th acquisition—deepens Merit's business succession planning capabilities as partners Patrick Carroll and Todd Feldman and their team join Merit; financial terms were not disclosed.

Waverly Advisors, a PE-backed registered investment adviser, has acquired Baltimore-based GGM Wealth Advisors, adding a team that manages over $400 million in AUM and expanding Waverly’s footprint into Maryland and Virginia. The deal closed March 21, 2025 and is an add-on to Waverly’s platform (backed by Wealth Partners Capital Group and HGGC), increasing the platform’s total AUM to roughly $16.9–17.4 billion.

MAI Capital Management announced the acquisition of Gaithersburg, Maryland-based Carmichael Hill & Associates, adding approximately $350 million in client assets under management. Carmichael Hill will adopt MAI's brand and infrastructure effective December 6, 2024; Principal Jim Stewart becomes Senior Wealth Advisor & Team Leader. Turkey Hill Management advised Carmichael Hill on the transaction; terms were not disclosed.

Modera Wealth Management, a fee-only wealth management firm with $12.5 billion AUM, has acquired Bay Point Wealth, a Maryland-based registered investment adviser with $467 million AUM and eight employees. The deal brings Bay Point's advisory team and client relationships into Modera to enhance service offerings and support future growth.

Beacon Pointe Advisors has merged with Keeney Financial Group, an RIA based in Columbia, Maryland, bringing roughly $560 million in client assets and a ten-person team into Beacon Pointe’s platform. The deal, Beacon Pointe’s first in the mid-Atlantic, closed on February 15, 2024; financial terms were not disclosed.

Hub International Limited has acquired the assets of Franklin Financial Group, LLC and Franklin Investment Group, LLC, expanding Hub’s employee benefits, retirement and wealth management presence in the Baltimore/Hunt Valley, Maryland area. The Franklin principals and team will join Hub Mid-Atlantic; terms were not disclosed and MarshBerry served as financial advisor to Franklin Financial Group.

Specialty Program Group LLC (SPG) has acquired the assets of Agency Two Insurance Marketing Group, LLC (d/b/a AgencyONE), a Brokerage General Agency focused on life, annuities, disability and long-term care insurance. The deal brings AgencyONE's principals and underwriting and advanced-planning capabilities into SPG's life & annuity distribution network, expanding resources for financial advisors and augmenting SPG's existing BSMG division.

MAI Capital Management, a Cleveland-based registered investment adviser, has acquired Wiener Financial Management, a Potomac, Maryland wealth advisory firm founded by Bruce Wiener. The deal (effective April 21, 2023) adds roughly $120 million in AUM to MAI’s platform and brings Bruce Wiener into MAI as Senior Wealth Advisor and Managing Director to deepen the firm's mid‑Atlantic presence.

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.

MAI Capital Management, a Cleveland-based registered investment adviser owned by Galway Holdings, has acquired Investment Planning Associates (IPA) of Rockville, Maryland. The deal expands MAI’s Mid-Atlantic presence, adds approximately $235 million of assets under management to MAI, and brings IPA’s senior advisors into MAI’s wealth management team.

Allworth Financial has acquired Novak Financial Planning, a Bel Air, Maryland-based RIA with approximately $365 million in AUM and roughly 450 advisory clients. The deal brings husband-and-wife founders Dan and Carol Novak into Allworth as equity partners and expands Allworth's national footprint from coast-to-coast.

Franklin Resources (operating as Franklin Templeton) completed its acquisition of Legg Mason, creating one of the world’s largest independent investment managers with roughly $1.4–$1.5 trillion in combined AUM. The all-cash transaction (approximately $4.5 billion) included assumption of about $2 billion of Legg Mason debt; the firms said Legg Mason’s specialist investment affiliates will retain operational autonomy while benefiting from Franklin Templeton’s global platform and distribution.