Wealth Management Acquisitions in Tennessee

Summit Wealth Group has merged with Premier Private Wealth, a Franklin/Nashville-area wealth management firm with $470 million in AUM, expanding Summit’s presence in Tennessee and lifting combined AUM to about $3 billion. The deal also launches Summit Wealth Group Family Office Services, with Premier CEO Michael Comstock joining Summit as Head of Family Office Services and leading the new Franklin office.

Osaic, Inc. acquired a majority interest in Innovative Wealth Team, a Nashville-based advisor succession and wealth management practice that manages approximately $700 million in assets. The deal expands Osaic's supported independence offering by adding turnkey succession and continuity solutions for advisors nearing retirement.

Mercer Global Advisors, a national RIA, has acquired Vishria Bird Financial Group, a Memphis-based financial planning and advisory firm managing $583 million in assets. The acquisition expands Mercer’s footprint in Tennessee and gives Vishria Bird access to Mercer’s family office, back‑office and specialized investment resources; Houlihan Lokey acted as exclusive advisor to Vishria Bird.

Mercer Global Advisors (Mercer Advisors) has acquired Financial Partners Group (FPG), an investment advisory and financial planning firm based in Gallatin, Tennessee that manages $660 million in client assets. The deal expands Mercer’s presence in the Nashville metro area and brings FPG’s family-office and retirement-planning capabilities into Mercer’s national RIA platform.

Sequoia Financial Group has entered into an agreement to acquire Nashville-based M Capital Advisors, an SEC-registered wealth management firm managing approximately $930 million in assets. The acquisition expands Sequoia's wealth management capabilities and high-net-worth client offerings; the transaction was expected to close by Oct. 31, 2023 and financial terms were not disclosed.

TRUE Capital Management, a San Francisco-based wealth management firm, has acquired Nashville boutique FS Wealth Sports & Entertainment. FS Wealth founders Bret Fincher and Chris Stout will join TRUE as Managing Directors to lead the Nashville office; MHB Advisers served as TRUE Capital's exclusive advisor on the deal.

The Mather Group (TMG), a family- and employee-owned wealth management firm headquartered in Chicago, has acquired Knoxville-based Resource Advisory Services, a fiduciary-only RIA with $116 million in assets under management. The deal expands TMG’s footprint in the Southeast and increases its AUM, while Resource Advisory Services’ founder David Lewis joins/partners with TMG under its fiduciary, fee-only platform.