In this week’s roundup, Carlyle invested in Prime Capital; Merit acquired Bridgeway; Hightower agreed to acquire Valley Financial; IFP added Van Horn and Severn; Raymond James recruited teams from Baird and Stifel; Cetera added Tucker Bria; LPL recruited Matt Roberts and Kent Voges; Prudential recruited Christopher Grella; SEIA launched tax services and expanded its family office capabilities; CogniCor added Shannon Eusey to its Advisory Board; and Fiduciary Trust appointed Doris Meister as CEO.
Mergers & Acquisitions
Carlyle To Provide Prime Capital Financial With $600 Million
Carlyle’s Global Credit platform agreed to provide RIA Prime Capital Financial with an approximately $600 million hybrid capital solution that includes a minority ownership interest and values Prime Capital at more than $1.8 billion. Abry Partners, which invested in Prime Capital in 2023, will exit. The transaction is expected to close before Sept. 15, and Prime Capital will remain majority employee-owned.
Prime Capital has nearly $50 billion in assets under management (AUM) across 68 offices and approximately 180 advisor-owners. Its leadership and advisor-led model will remain unchanged. William Blair, Goldman Sachs, Kirkland & Ellis, Spencer Fane and KPMG advised Abry and Prime Capital, while Debevoise & Plimpton advised Carlyle.
Glenn Spencer, CEO of Prime Capital Financial, said, “For decades, our profession has measured success through assets under management. We have always believed there was a better measure. Assets are the outcome. Value is the objective. Our responsibility is to create extraordinary value for clients while building a first-class environment for our teams. Carlyle shares that long-term vision, and together we believe we can build an institution that grows stronger across generations.”
Merit Acquires $900 Million Bridgeway Group
RIA Merit Financial Advisors acquired The Bridgeway Group, a Southern California wealth management firm with offices in Pasadena and Covina that oversees about $900 million in client assets. The transaction closed July 31 and represents Merit’s 61st acquisition overall and ninth partnership of 2026. Bridgeway, which had been affiliated with Commonwealth Financial Network for 13 years, rebranded as Merit Financial Advisors when the deal closed.
All nine Bridgeway team members joined Merit, including Partners Matt Dupon, Sean Montgomery and Scott Miller, who became Wealth Managers and Partners at Merit. Miller also became Area Director. Bridgeway is the sixth former Commonwealth team to join Merit since LPL Financial announced its acquisition of Commonwealth. Merit managed about $30.1 billion in assets as of July 20, including $22.98 billion in advisory assets, and supports RIA and independent broker-dealer models.
“We knew we were going to make a transition, so it made sense to step back and ask where we wanted to go from here,” Dupon said. “We have built a strong business and want to keep growing, but continuing at this pace requires greater infrastructure and support. Merit gives us that support while allowing us to maintain the independence that has always been extremely important to us.”
Hightower To Acquire $275 Million Valley Financial Group
Chicago-based RIA Hightower Advisors agreed to acquire Valley Financial Group, an independent wealth management practice in Ambler, Pennsylvania, with approximately $275 million in AUM as of June 30. Valley will join Hightower Signature Wealth, the firm’s integrated national practice. The deal is Hightower Signature Wealth’s second external acquisition this year and is expected to close later this summer.
Valley provides financial planning and investment management to individuals, families and businesses throughout Greater Philadelphia, including business owners, corporate employees and first responders. Its employees will join Hightower Signature Wealth and continue working from Valley’s Ambler office. After the transaction closes, Hightower Signature Wealth expects to have more than 160 advisors and over 35 locations, with approximately $40 billion in AUM measured as of June 30.
“Valley has built a trusted advisory practice grounded in deep client relationships, thoughtful advice and a strong commitment to its community,” said Larry Restieri, CEO of Hightower. “Welcoming Valley to HTSW further demonstrates the appeal of our integrated practice to established firms looking to accelerate growth, enhance the client experience and create longevity for their teams.”
Advisor Transactions
IFP Adds Two Former Commonwealth Teams With Over $400 Million
Independent Financial Partners added Van Horn Financial Services and Severn Financial Advisors, two former Commonwealth Financial Network practices that collectively oversee more than $400 million in client assets. Van Horn is based in Sioux Falls, South Dakota, and led by Graham Van Horn. Severn is based in Annapolis, Maryland, and led by Stephen James and Carly James. IFP’s platform includes RIA IFP Advisors and independent broker-dealer IFP Securities.
The two additions bring IFP’s total recruitment from Commonwealth to four teams, 10 advisors and approximately $1.2 billion in client assets. IFP supports 288 advisors across 37 states and approximately 178 office locations, overseeing more than $21 billion in assets under advisement. The firm said it has added approximately $2.4 billion in assets during 2026 and has grown from about $5 billion over the past seven years.
“What really differentiated IFP was the people,” said Carly James, Financial Planner at Severn Financial Advisors. “From our first conversations, the team was transparent, accessible and genuinely invested in helping us succeed. We wanted a partner that wasn’t just prepared for where the industry is headed, but excited about it, and that’s exactly what we found at IFP.”
Raymond James Recruits Teams With $1.4 Billion In Assets
Raymond James & Associates, the employee advisor channel for Raymond James, recruited two teams that previously managed approximately $1.4 billion in combined client assets. Kurt Carlson, Kenneth Breaden, Cassidy Carlson and Brian Koble joined from Baird after managing about $1.1 billion and now operate as The Carlson Group of Raymond James in Cranberry Township, Pennsylvania. Michael Rose and Scott Gillespie joined from Stifel after managing $316 million and formed Pathway Advisory Group of Raymond James in Lafayette, Indiana.
The Carlson Group serves business owners, endowments and foundations, families, retirees and pre-retirees and includes Client Service Associates Teresa Davis and Jacquelin Croissant. Pathway Advisory Group provides financial planning and guidance to individuals, families and small business owners, focusing on multigenerational wealth planning and retirement and education strategies. Senior Registered Service Associate Patty Horner joined Rose and Gillespie. Raymond James reported approximately $1.92 trillion in client assets as of June 30.
“Our decision to join Raymond James was proactive and rooted in the firm’s genuine commitment to helping clients succeed,” said Kurt Carlson, Managing Director at Raymond James. “We were also drawn to the firm’s willingness to reinvest in its business, particularly in technology and innovation, to enhance the client experience and support long-term growth as the industry enters a transformative era of artificial intelligence.”
Cetera Adds $420 Million Tucker Bria Wealth Strategies
Cetera recruited Financial Advisors Jim Tucker and Patrick Bria and their Tucker Bria Wealth Strategies team, which oversaw approximately $420 million in assets under administration as of April 30. The Durham, North Carolina-based practice joined through Cetera’s Summit Financial Networks community after more than a decade with Commonwealth Financial Network. Advisory services are offered through Cetera Investment Advisers, an RIA, while Summit is a region of Cetera Wealth Services.
Tucker and Bria co-founded the practice in 2013 and provide financial planning and wealth management to individuals and families for wealth creation, preservation, inheritances and business sales. The team retained Fidelity’s National Financial Services as its custodian and can continue using third-party technology it used at Commonwealth. Cetera firms managed approximately $630 billion in assets under administration and $296 billion in AUM as of March 31.
“We tell our team to love our clients, not because of what they’ve entrusted to us, but because that’s simply the standard we hold ourselves to,” Bria said. “Our next-gen advisors are in the room with clients from day one, learning the relationships, not just the technical side of the job. Because of this, our clients know their advisor team is going to be in place for the next 30-plus years.”
LPL Adds $350 Million Team To Frontline Investment Advisors
LPL Financial recruited Tampa, Florida-based Financial Advisors Matt Roberts and Kent Voges to Frontline Investment Advisors, where their practice will receive operational, technology and strategic support from 15 Wealth. They joined from Valic Financial Advisors, now Corebridge Financial, and reported serving approximately $350 million in advisory, brokerage and retirement plan assets as of year-end 2025. The advisors affiliated through LPL’s broker-dealer and RIA platforms.
Roberts and Voges have worked together for 24 years and have more than six decades of combined industry experience. Their practice serves individuals and families preparing for or living in retirement and works with younger generations on wealth accumulation and preservation. LPL supports more than 32,000 advisors and services and custodies approximately $2.6 trillion in brokerage and advisory assets.
“We’ve always believed that financial advice starts with listening and education,” Roberts said. “Every client’s situation is different, and our goal is to help them feel informed, comfortable and confident about the decisions they’re making. We want our clients to know we’re always here for them, whether they have a major financial question or simply need guidance along the way.”
Prudential Recruits Advisor With More Than $110 Million
Prudential Advisors recruited Christopher Grella, a New Jersey-based advisor who oversaw more than $110 million in client assets at Ameriprise Financial. Grella joined Prudential through NJ Wealth Partners in Holmdel, New Jersey. He has 31 years of financial services experience and most recently served as a Vice President at Ameriprise. He previously worked at Janney Montgomery Scott, MetLife and Morgan Stanley Dean Witter and also operated independently.
Prudential Advisors supports more than 3,000 financial advisors through an open-architecture platform and is the wealth management arm of Prudential Financial. Prudential Financial managed approximately $1.6 trillion in assets as of June 30. Grella is serving as a Financial Advisor and Vice President at Prudential Advisors.
“I’ve built my business on my deeply held values of building confidence, transparency, empathy and personalized guidance to create lasting relationships and seek better outcomes for clients and their families,” Grella said. “Prudential Advisors and NJ Wealth Partners offer the strength, flexibility, and support that allows me to focus on what matters most — serving my clients with distinction and helping them achieve their financial goals.”
Strategic Initiatives
SEIA Launches Tax Services And Expands Family Office Capabilities
RIA Signature Estate & Investment Advisors (SEIA) launched SEIA Tax Services, expanded its family office capabilities and updated its brand identity. Tim Gacsy joined as Director of Tax Services to lead the new tax entity. The Los Angeles-based firm managed approximately $32.6 billion in assets as of June 30 and served clients through 33 offices. Its services include investment management, financial planning, estate planning and integrated tax planning.
SEIA Tax Services combines the firm’s planning methodology with technology-supported tax analysis and will provide tax consulting, planning and preparation. SEIA also introduced a client segment for households requiring greater coordination and is expanding its family office capabilities through Baker Tilly Family Office. Gacsy has 26 years of tax experience, including more than seven years leading tax and cost-basis initiatives at LPL Financial and later leading tax strategy and consulting for a national family office.
Brad Repinsky, Head of Estate, Tax, & Financial Planning at SEIA, said, “Whether someone is preparing to sell a business, planning for the next generation or navigating a significant change in wealth, those decisions affect every part of their financial life. Expanding our tax and family office capabilities allows us to bring the right knowledge and resources together at the right time, so clients receive advice that’s coordinated around their goals, not around individual specialties.”
Promotions & People Moves
Beacon Pointe Chairman Shannon Eusey Joins CogniCor Advisory Board
Shannon Eusey, Chairman and Co-Founder of RIA Beacon Pointe Advisors, joined the Advisory Board of Palo Alto-based CogniCor, an AI and orchestration platform provider focused on wealth management. Eusey helped launch Beacon Pointe and oversaw its growth to more than $62 billion in assets under advisement. The RIA serves private clients, foundations and retirement plans and is a CogniCor client.
Before co-founding Beacon Pointe, Eusey served as Senior Managing Director and Portfolio Manager at Roxbury Capital Management. She serves or has served on several other boards and councils, including Banc of California, the Charles Schwab Advisor Council, TD Ameritrade Advisory Council, CNBC Financial Advisor Council and Scratchworks. CogniCor said Eusey’s appointment supports its focus on RIAs as it develops technology intended to coordinate data and workflows across wealth management firms.
Sindhu Joseph, CEO and Co-Founder of CogniCor, said, “Our mission extends beyond helping advisors make faster or more efficient decisions. We are building the intelligence and orchestration layer that unifies fragmented data, coordinates actions across the wealth ecosystem, and enables every advisor to deliver highly personalized advice with consistency, scale, and confidence.”
Fiduciary Trust Appoints Doris Meister As CEO
Fiduciary Trust Company appointed Executive Chair Doris Meister as President and CEO, succeeding Austin Shapard after his 12 years in those roles. Shapard moved into a Senior Advisor role and will work with Meister and the Boston-based private wealth management and trust firm’s leadership through the end of 2026. Fiduciary Trust provides wealth planning, investment management, trustee and estate services, family office services, tax services and custody to families, individuals and nonprofits.
Meister has more than 35 years of industry experience and most recently served as Chair and CEO of Wilmington Trust before joining Fiduciary Trust as Executive Chair. Since joining the firm, she has worked with its leadership team. Fiduciary Trust, founded in 1885 as a family office, also serves professional financial advisors and single-family offices.
“For more than 140 years, Fiduciary has earned its clients’ trust through enduring relationships, thoughtful advice and an unwavering commitment to acting in their best interests,” Meister said. “I am excited to build on that strong foundation while investing in our people, technology and investment capabilities to further enhance the experience we provide our clients.”
Wealth Solutions Report can be reached at info@wealthsolutionsreport.com.
