Wealth Management Acquisitions in Ohio

Arax Investment Partners has acquired GFP Private Wealth, a Cleveland, Ohio-based registered investment adviser with $1.5 billion in assets under management. GFP will join Arax Advisory Partners, expanding Arax's Midwest presence and pairing GFP's high-net-worth advisory capabilities with Arax's platform infrastructure to support the firm's next phase of growth.

Omaha-based Carson Group has acquired Ohio-based Total Wealth Planning, a 19-person advisory team overseeing roughly $1.45 billion in client assets, which will rebrand as Carson Wealth and become the firm's 34th wholly owned office. The deal expands Carson's Midwestern footprint and brings Total Wealth Planning access to Carson's technology, integrated data systems and national advisor network to support more complex tax, estate and investment planning needs.

Strive, Inc. announced the closing of the merger between Asset Entities Inc. and Strive Enterprises, Inc.; the combined company will continue to trade on Nasdaq under the ticker ASST and begin a Bitcoin accumulation strategy. In conjunction with the merger, Strive finalized equity financing raising approximately $750 million with an additional $750 million potentially available upon exercise of warrants (total potential proceeds of ~$1.5 billion). Strive Asset Management, LLC, a wholly owned subsidiary, manages over $2 billion in assets.

Bluespring Wealth Partners announced that Hickory Asset Management will merge into existing Bluespring portfolio firm Ritter Daniher Financial Advisory (RDFA), consolidating the two Ohio-based teams under RDFA. The combined advisory professionals will oversee over $865 million in assets under management, with the deal intended to strengthen the firm’s Ohio presence, improve service continuity, and support succession planning.

Apollon Wealth Management, LLC announced that Chornyak & Associates, a Columbus-based financial planning firm, is joining its national advisory platform, marking Apollon's expansion into Ohio. The Chornyak team of 14 professionals will continue serving individuals, families, and business owners while leveraging Apollon’s resources and Goldman Sachs Custody Solutions for client asset custody.

Mariner (Mariner Wealth Advisors) has acquired Hyre Personal Wealth Advisors, adding approximately $325 million in assets under advisement. The deal closed April 30, 2025 and brings five Hyre team members into Mariner’s Columbus office, expanding Mariner’s presence in Ohio.

North Square Investments, through its majority-owned affiliate CS McKee, has acquired Foundry Partners and will merge Foundry into CS McKee. The deal adds approximately $2.3 billion of assets under management to CS McKee and includes a leadership transition in which Foundry's Timothy Ford will assume the CEO role at CS McKee.

Waverly Advisors has acquired Buckingham Advisors, a Dayton, Ohio-based investment advisory firm, adding Jay Buckingham and a 38-person team and approximately $900+ million in AUM. The deal (closed November 8, 2024) expands Waverly’s Ohio footprint by four locations, increases Waverly’s AUM to about $15.5 billion, and brings new tax preparation and business services into Waverly Business Services.

Waverly Advisors, a Birmingham-based RIA backed by Wealth Partners Capital Group and HGGC's Aspire Holdings, acquired 9258 Wealth Management, a Cincinnati-based investment advisory and tax preparation firm. The deal adds three Ohio offices and approximately $1.0 billion in AUM, brings a team of 24 professionals to Waverly, and closed on October 18, 2024, increasing Waverly's AUM to about $14.4 billion.

Summit Financial, together with Merchant Investment Management, has acquired an equity stake in the wealth management arm of Meeder Investment Management. The Dublin, Ohio-based Meeder Wealth Management team — which manages nearly $400 million in AUM — will retain its branding and team and will access Summit's SummitVantage platform and Merchant's growth resources to accelerate national growth.

Signature Estate & Investment Advisors (SEIA) has entered into a definitive agreement to acquire Cedar Brook Group, a Cleveland-based RIA with approximately $2 billion in AUM. The deal, expected to close in June 2024, is an add-on to SEIA’s PE-backed platform (Reverence Capital Partners) and expands SEIA’s footprint into the Midwest, bringing pro forma AUM to over $22 billion and roughly 155 employees/advisors across 20 offices.

An investor group led by The Riverside Company has signed a definitive agreement to acquire The Townsend Group from Aon plc. Co-investors Bluerock, MLC Private Equity and Ten Capital Management will participate alongside Riverside as Townsend transitions to independent ownership to pursue growth in real assets investment advisory and management.

MAI Capital Management has acquired WaterStone Investment Counsel, adding $144 million in client AUM and expanding MAI's Cincinnati footprint. WaterStone will adopt MAI's brand; founders Mark Roberts and Don Brosz will become Senior Wealth Advisors and gain access to MAI's broader capabilities such as tax and estate planning.

MAI Capital Management acquired Madison Wealth Management, adding approximately $1.4 billion of client assets under management and expanding MAI’s presence in Cincinnati and Northern Virginia. The Madison team will join MAI effective January 5, with Madison leaders Ed Kuresman and Jim McDermott assuming Regional President roles; terms were not disclosed.

The Mather Group, a Chicago-based fee-only wealth management firm, has acquired Clear Perspectives Financial Planning, a Cincinnati-based registered investment adviser with approximately $360 million in AUM. The deal expands TMG’s national footprint (establishing its first brick-and-mortar office in Ohio) and brings the Clear Perspectives team into TMG while preserving client relationships and local operations.

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.

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.

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.

Creative Planning Inc., a large independent wealth management firm, acquired Berno Financial Management, a Cincinnati-based registered investment adviser with over $300 million in assets under management. Bruce J. Berno and his team will join Creative Planning’s Cincinnati practice as the firm expands its footprint in the market.

Bluespring Wealth Partners, a Kestra Holdings subsidiary based in Austin, Texas, has acquired Cincinnati-based Ritter Daniher Financial Advisory (RDFA). RDFA, led by founders John Ritter and Jeffrey Daniher and managing over $530 million in client assets, will leverage Bluespring's resources to accelerate talent development and expand across the Midwest as part of Bluespring's roll-up strategy.

CI Financial Corp. has completed the acquisition of Budros, Ruhlin & Roe, Inc. (BRR), a Columbus, Ohio-based registered investment advisor managing approximately US$3.5 billion in assets. The deal expands CI Private Wealth's U.S. presence and increases CI's U.S. wealth management assets to roughly US$82 billion.

Galway Holdings announced an investment in MAI Capital Management, adding a wealth and financial management vertical to Galway’s platform and enabling MAI to accelerate organic growth and M&A. MAI’s executive team will remain in place, Wealth Partners Capital Group will retain an equity stake, and Galway — backed by private equity investors including Carlyle, Oak Hill and Harvest — will integrate MAI’s services with its EPIC insurance distribution capabilities.

Creative Planning Inc. acquired Cincinnati-based Lenox Wealth Management, an RIA with approximately $600 million in assets under management. The acquisition brings Lenox’s advisors and clients into Creative Planning’s platform to expand the firm’s Cincinnati presence, broaden service offerings, and provide additional technology and scale to support growth.

Allworth Financial, a Parthenon-backed wealth management firm, has acquired Capstone Capital, Inc., a Cincinnati-based investment advisory firm with approximately $100 million in client assets. Founder Bob Sponseller is joining Allworth, and the deal expands Allworth's footprint in the Ohio region as part of its ongoing add-on acquisition strategy for its Parthenon-backed platform.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired First Ohio Planning, LLC, a Columbus, Ohio-based wealth management firm owned by James S. Ryan. Ryan and his five-person team will join Mercer’s Columbus office; First Ohio serves approximately 280 households with about $350 million AUM, and the deal strengthens Mercer’s ERISA and retirement-plan capabilities while expanding its Columbus presence.