Tracked deals
13
13 tracked deals across 2020-2026.
Wealth Management Buyers & Acquisitions in Virginia
Buyer mix
Strategic-led
14 strategic · 2 pe
Top trend
Volume peaked in 2022
4 tracked deals announced in 2022.
Primary Insight
What Stands Out
- Cary Street Partners appears multiple times, extending its Virginia footprint and bringing teams into its branded platform.
- Several transactions target fee-only advisory models and add advisor talent, offices, and client AUM—often with continued service under the buyer’s name.
- Retirement-plan capability is a recurring theme (e.g., deals explicitly expanding wealth-management and retirement-plan offerings).
- Acquisitions also cross regional boundaries, with deals based in Virginia that include offices or presence in nearby states (e.g., Maryland and Florida).
- Buyers span both RIAs and private-equity-backed platforms, including Aquiline Capital Partners as a supporting partner in at least one transaction.
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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 |
|---|---|---|---|
| Cary Street Partners | 2 | Independent wealth management firm providing investment m... | Strategic |
| Alera Group | 1 | Independent national insurance, wealth and retirement pla... | Strategic |
| Aquiline Capital Partners | 1 | Private equity firm investing in financial services, fint... | PE |
| Atlantic Union Bankshares Corporation | 1 | Bank holding company for Atlantic Union Bank; takes minor... | Strategic |
| Audax Private Equity | 1 | Middle-market private equity firm that partners with and ... | PE |
| CW Advisors | 1 | SEC-registered wealth management firm and RIA platform pr... | Strategic (PE-backed) |
| Cerity Partners | 1 | Independent full-service wealth management firm serving h... | Strategic |
| Concurrent Investment Advisors | 1 | Wealth management platform operator serving independent f... | Strategic |
| Cresset Asset Management | 1 | Independent multi-family office and SEC-registered wealth... | Strategic |
| Dakota Wealth Management | 1 | Registered investment advisor / wealth management firm fo... | Strategic |
Acquisition Volume in Wealth Management in Virginia by Year
Last 6 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- Buyer
- Concurrent Investment Advisors
- Target
- Spire Investment Partners
- Seller
- David Blisk (Founder and CEO of Spire Investment Partners)
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Buyout
Concurrent Investment Advisors has acquired Spire Investment Partners, adding about $5.4 billion in assets and more than 30 advisor teams to Concurrent’s wealth management platform. The deal is aimed at providing Spire advisors access to Concurrent’s integrated technology and centralized services while allowing them to maintain ownership of their practices, brands, and client relationships.
-
September 29, 2026
- Buyer
- Waverly Advisors
- Target
- Heartwood Wealth Advisors
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Buyout
Waverly Advisors acquired Heartwood Wealth Advisors, a Richmond, Virginia-based registered wealth management firm with about $1.7 billion in assets under management. The entire Heartwood team will join Waverly, while Heartwood will remain rooted in Richmond to preserve existing client relationships and expand service capabilities.
-
July 24, 2026
- Buyer
- Cary Street Partners
- Target
- Seneca House Advisors
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Buyout
Cary Street Partners acquired Seneca House Advisors, a Richmond, Virginia wealth management firm led by Elizabeth King, Matthew Daniel, and Tyler Napier. The deal expands Cary Street Partners’ presence with a dedicated West End Richmond office and brings the firm to 22 locations nationwide, while Seneca House’s team continues serving clients from its current location under the Cary Street Partners name.
-
October 1, 2025
- Buyer
- Cerity Partners
- Target
- Oak Hill Wealth Advisors
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Buyout
Cerity Partners, a New York–based independent wealth management firm, announced a merger with Oak Hill Wealth Advisors of Lansdowne, Virginia. The deal expands Cerity Partners' presence in the Washington, D.C. market and brings Oak Hill's team (seven professionals) and wealth management capabilities into the Cerity platform.
-
October 7, 2024
- Buyer
- MAI Capital Management
- Target
- Halpern Financial
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Buyout
MAI Capital Management has acquired Halpern Financial, a fee-only RIA with approximately $1.2 billion in client AUM and offices in Ashburn, Virginia and Rockville, Maryland (with a presence in Naples, Florida). Terms were not disclosed; Halpern's founder Ted Halpern will become a regional president and the firm will adopt MAI's branding and internal infrastructure to support growth and expand MAI's regional footprint.
-
August 16, 2024
- Buyer
- CW Advisors, Audax Private Equity
- Target
- Agili
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Addon
Boston-based registered investment advisor CW Advisors (CWA) has partnered with Agili, a fee-only financial planning and investment advisory firm, adding $1.2 billion of assets under management. Agili's offices in Richmond, Virginia and Bethlehem, Pennsylvania will remain open; Agili President Michael Joyce will become the combined firm's executive managing director and Mid-Atlantic leader. The terms were undisclosed; the deal is CWA's fourth and largest since partnering with Audax Private Equity in June 2023.
-
November 16, 2023
- Buyer
- Steward Partners Global Advisory, LLC
- Target
- Freedom Street Partners (FSP Enterprise LLC)
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Buyout
Steward Partners Global Advisory has agreed to acquire the wealth management business of FSP Enterprise LLC (d/b/a Freedom Street Partners). The deal brings Freedom Street's network of 38 financial advisors and $3.2 billion in client assets into Steward Partners as the foundation of a new "owned business" division to expand Steward's advisor-acquisition and succession capabilities and accelerate regional expansion.
-
January 4, 2023
- Buyer
- Alera Group
- Target
- The Ascent Group, Summit Group, Walsh & Nicholson Financial Group
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Buyout
Alera Group, a national insurance, wealth and retirement services firm based in Deerfield, Illinois, acquired Virginia Beach–based The Ascent Group and its affiliated companies (Summit Group and Walsh & Nicholson Financial Group). The deal adds approximately $1.5 billion in RIA assets and $1.3 billion in retirement plan assets to Alera’s wealth and retirement plan services divisions and brings about 42 employees (including 15 advisors) into Alera’s platform.
-
- Buyer
- Modera Wealth Management, LLC
- Target
- Bernhardt Wealth Management
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Buyout
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.
-
- Buyer
- Cary Street Partners, Atlantic Union Bankshares Corporation
- Target
- Dixon, Hubard, Feinour & Brown, Inc. (DHFB)
- Seller
- Atlantic Union Bank
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Buyout
Cary Street Partners agreed to acquire Dixon, Hubard, Feinour & Brown, Inc. (DHFB) from Atlantic Union Bank. The deal will expand Cary Street Partners’ Virginia footprint with additional locations in Roanoke, Charlottesville, and Arlington and position DHFB to operate under the Cary Street Partners brand upon closing.
-
- Buyer
- SageView Advisory Group, Aquiline Capital Partners
- Target
- Capital One Investing
- Seller
- Capital One Investing, Capital One Financial Corporation
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Divestiture
SageView Advisory Group completed the acquisition of Capital One Investing, a $900 million wealth management business formerly owned by Capital One Financial Corporation. The deal transferred advisors, associates and accounts to SageView (supported by private-equity partner Aquiline) and expands SageView’s retirement-plan and wealth-management capabilities and AUM.
-
- Buyer
- Dakota Wealth Management
- Target
- Pineno Levin & Ford Asset Management, Inc.
- Seller
- Pineno Levin & Ford Asset Management, Inc.
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Buyout
Dakota Wealth Management has acquired Pineno Levin & Ford Asset Management, Inc.; InCap Group served as exclusive financial advisor to PLF. Pineno Levin & Ford, a Richmond-based independent wealth advisory firm with about $400 million AUM, will join Dakota's platform, bringing several PLF principals on as equity partners and increasing Dakota's assets under management to roughly $2.5 billion.
-
June 17, 2020
- Buyer
- Cresset Asset Management
- Target
- PagnatoKarp
- Industry
- Wealth Management
- Location
- Virginia, United States
- Type
- Buyout
Cresset Asset Management has combined with Reston, Virginia-based PagnatoKarp, adding PagnatoKarp’s $2.3 billion in AUM to create a combined RIA with $9.5 billion in assets and eight offices. The deal brings PagnatoKarp’s team into Cresset and expands Cresset’s wealth management and family office capabilities and scale.
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Frequently Asked Questions
Which acquirers show up most often in Virginia wealth management acquisitions?
Recurring acquirers on the page include Cary Street Partners, SageView Advisory Group, Aquiline Capital Partners (as a partner/supporting role in one deal), Alera Group, Steward Partners Global Advisory, LLC, Modera Wealth Management, LLC, and Dakota Wealth Management.
Do the deals typically involve RIAs, fee-only advisory firms, or broader financial services?
Many listed transactions involve registered investment advisors (RIAs) and fee-only wealth management businesses, with several deals also highlighting expanded retirement-plan and wealth-management capabilities.
What happens to acquired advisor teams after the transaction?
Deal summaries frequently describe advisors and teams continuing to serve clients, with branding and internal infrastructure shifting to the acquiring platform. Some transactions also name founder or senior leadership roles post-close.
Is the geographic focus limited to one part of Virginia?
The transactions span multiple Virginia markets, including Richmond, Lansdowne, Ashburn, Rockville, Virginia Beach, Roanoke, Charlottesville, and Arlington.
Related Acquisition Pages
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Private Equity-Backed Wealth Management Buyers
Wealth Management Acquisitions in 2026
Wealth Management Acquisitions in 2025
Wealth Management Acquisitions in 2024
Wealth Management Acquisitions in 2023
Wealth Management Acquisitions in 2022
Wealth Management Acquisitions in 2020
Acquisitions in Virginia
Private Equity-Backed Acquisitions in Virginia
Acquisitions in Virginia in 2026