In this week’s roundup, Cerity Partners merged with Cornerstone Capital; Trilogy acquired Mountain Capital; Merit bought Moldenhauer & Associates; Aspen Standard Wealth acquired Cullen Investment Group; Constellation invested in BakerAvenue; LPL added Praxis; Ascentis added four Raymond James practices; Ascentix and PureFacts partnered on revenue optimization; SagePoint launched a family office firm; Wealthspire launched a sports and entertainment practice; Mercer refinanced debt and added a revolving credit facility; and Arax appointed Diego Galan as Chief Operating Officer.
Mergers & Acquisitions
Cerity Partners Merges With $1.4 Billion Cornerstone Capital
Cerity Partners merged with Cornerstone Capital, a Palo Alto, California‑based wealth management firm with approximately $1.4 billion in assets under management (AUM). The combination expands Cerity’s presence in Silicon Valley, and the combined firms will operate under the Cerity Partners name. Cornerstone serves high net worth individuals and families as well as charitable foundations and endowments.
Founded in 1978, Cornerstone provides investment management, financial planning and estate and tax coordination. Advice Dynamics Partners represented Cornerstone in the transaction, and HansonBridgett provided legal counsel to the firm. Lowenstein Sandler provided legal counsel to Cerity Partners.
Brad Dinsmore, Partner at Cornerstone Capital, said, “As we thought about the next chapter for our clients and our colleagues, we wanted a partner who would protect that philosophy while giving us more to offer. In Cerity Partners, we found a firm that shares our values and gives our clients access to resources—in tax planning, estate planning, and beyond—that we couldn’t offer on our own.”
Trilogy Acquires Mountain Capital With Over $1 Billion In Client Assets
Trilogy Capital acquired Mountain Capital Investment Advisors, a Westminster, Colorado‑based RIA with over $1 billion in total client assets. The acquisition is Trilogy’s largest deal of the year and adds its 11th office and second location in Colorado. Founded in 2011, Mountain Capital serves individuals, families and small businesses, with a particular focus on aviation professionals.
Mountain Capital offers tax preparation and consulting services, including interview preparation for pilots and other aviation professionals. Those services will be combined with the capabilities of Trilogy Tax & Consulting, an affiliated company. Mountain Capital’s aviation expertise includes current and former pilots, airline leaders and other industry professionals.
Brandt Burns, Founder and CEO of Mountain Capital Investment Advisors, said, “We will retain our brand and unique position in the marketplace and our leadership team, advisors and staff will remain intact, so client disruption should be minimal. This important move for our firm will not replace what we’ve built. It will strengthen it.”
Merit Acquires $1.1 Billion Moldenhauer & Associates
RIA Merit Financial Advisors acquired Moldenhauer & Associates, an Orchard Park, New York‑based wealth management firm with approximately $1.1 billion in client assets and nearly 1,900 households. The acquisition was effective Sept. 25. Brett Moldenhauer and the firm’s 12 employees will join Merit and remain in their existing office, establishing Merit’s presence in the greater Buffalo and Western New York market.
The transaction is Merit’s 63rd acquisition, 12th partnership of 2026 and 10th addition of a firm formerly affiliated with Commonwealth Financial Network. Moldenhauer & Associates focuses largely on clients approaching or in retirement.
David Wahlen, Executive Vice President of Strategic Partnerships of Merit Financial Advisors, said, “Brett and his team have built an exceptional business with a strong culture, deep client relationships and an impressive track record of organic growth. Just as importantly, Brett is looking ahead. He wants to continue growing the firm, create opportunities for his team and make sure the business is positioned to serve clients for generations to come.”
Aspen Standard Wealth Acquires Cullen With Over $1 Billion In AUM
Aspen Standard Wealth acquired Cullen Investment Group, a Lafayette, Louisiana‑based RIA with over $1 billion in AUM. The acquisition adds a practice founded in 1986 that provides customized portfolio management through a value investing approach.
Aspen’s acquisition model allows partner firms to retain their brands and leadership autonomy, according to the firm.
Aly Kassim‑Lakha, Founder and CEO of Aspen Standard Wealth, said, “The team at Cullen has built an incredible wealth management offering that places client best interests at the center of everything they do. We look forward to providing them with additional resources and capabilities to build upon that foundation and to continue to serve their clients with exemplary care for decades to come.”
Constellation Makes Minority Investment In $6.3 Billion BakerAvenue
BakerAvenue Wealth Management closed a minority investment from Constellation Wealth Capital (CWC). The San Francisco‑based wealth management firm had $6.3 billion in AUM as of Sept. 30. BakerAvenue’s existing leadership team will retain majority ownership and operating control. The capital will support expansion of its services, advisor recruitment and opportunities in new markets.
BakerAvenue plans to expand its integrated tax preparation, estate planning and corporate trustee services. It also provides specialized concentrated stock management. Colchester Partners served as financial advisor to BakerAvenue, and Alston & Bird served as its legal counsel. Gibson Dunn provided legal counsel to Constellation Wealth Capital.
Simon Baker, Founder, Executive Chairman and Partner of BakerAvenue Wealth Management, said, “We founded BakerAvenue 22 years ago with a firm belief that people, community, and culture should be at the heart of everything we do. With CWC, we found a partner who shares those values and our vision for the future. We’re excited about what we can accomplish together as we look to broaden and deepen the impact we make for the families and clients we serve.”
Advisor Transactions
LPL Adds Praxis Team With $1.1 Billion Previously At Wells Fargo
LPL Financial added Praxis Financial Partners, an Alpharetta, Georgia‑based advisor team, from Wells Fargo Advisors Financial Network. At Wells Fargo, the team had about $1.1 billion in advisory, brokerage and retirement plan AUM as of year‑end 2025. Praxis joined LPL’s broker‑dealer and RIA platform on Sept. 13 and will retain its name, an LPL spokesperson told Wealth Solutions Report.
Praxis was founded in 2013 by Scott Christian and Cecil Loyd, who serve as Partners alongside Jay Gentry. Financial Advisor Matt Dion completes the four‑advisor team, supported by Jody Smith, Zac Hirschler, Ashlyn Presley, Ellen Rick, Seleena Harris and Parvathy Eashwaran. The practice serves business owners, corporate retirees, executives and multigenerational families in 24 states, according to LPL.
Christian said, “We take the time to learn their goals, priorities and risk tolerance, then develop customized strategies supported by an ongoing review process. Every client is different, and our objective is to create solutions tailored to their unique circumstances rather than relying on a one‑size‑fits‑all approach.”
Ascentis Adds Four Raymond James Practices With Over $1 Billion
Ascentis Independent Advisors, an RIA within Ascentis Holdings, added four advisory practices with over $1 billion in client assets from Raymond James Financial Services. Capital Waypoint, Citrus Wealth Management, IMPACT Financial Strategies and Rooted Wealth Management operate in California and Colorado. The practices will retain their names and continue using Raymond James as their primary custodian. They have operated together as a unified Raymond James branch since 2022.
In California, Capital Waypoint, led by Jarrod C. Martinez, had approximately $256 million in client assets; Jeff Marvin’s Citrus Wealth Management had approximately $230 million; and Rooted Wealth Management, led by Founding Partners Thad Ortez and Robert Powell, had approximately $275 million. Colorado-based IMPACT Financial Strategies, led by Justin Davis, had approximately $303 million in client assets as of Sept. 15.
Michael Mansur, CEO of Ascentis Holdings, said, “Through Ascentis Independent Advisors, these teams can access deeper planning and investment resources, along with operational support designed to give them more time for their clients. Our role is to support their businesses while preserving their autonomy.”
Strategic Partnerships
Ascentix And PureFacts Partner On Revenue Optimization
Ascentix Partners and PureFacts Financial Solutions formed a strategic partnership to combine wealth management consulting with revenue management software. The firms said the collaboration will bring together technology, advisory support and private equity expertise for wealth management enterprises, focusing on fees, billing, advisor compensation and practice management.
PureFacts’ PureRevenue Platform connects three software capabilities: Fees & Billing, Advisor Compensation and Practice Management. They cover fee calculation and governance, advisor payments and incentives, and analysis of client value, pricing and practice performance. Ascentix provides growth planning, M&A consulting and strategic relationship development for wealth management businesses.
Pete Hess, President of PureFacts, said, “Organic growth is the defining challenge in wealth and asset management today, and few understand it as deeply as Ascentix and PureFacts do together. This partnership puts that understanding to work for the industry’s leading firms by helping them improve pricing, capture more earned revenue, align advisor behavior and use trusted revenue intelligence to accelerate profitable growth. We’re thrilled to work with Ascentix as one of the foremost experts on growth in the wealth management industry.”
Strategic Initiatives
SagePoint Launches With Over $2 Billion In Assets Under Advisement
SagePoint Capital Partners formally launched as a family office firm headquartered in Franklin, Tennessee, with more than $2 billion in assets under advisement as of Sept. 30. Founded by Winston Justice, its CEO, the firm serves entrepreneurs, multigenerational families, professional athletes, entertainers and creators.
SagePoint plans to expand in Naples, Florida, and Dallas and is onboarding a Texas‑based wealth management practice serving athletes, entertainers and creators. Its family office model coordinates investment management, tax strategy, estate matters and private and public markets through a single client relationship. The firm is developing a philanthropic planning offering and a private alternatives platform focused on selection, due diligence and investment structure.
Justice said, “We built SagePoint for the long term. If we do this correctly, growth doesn’t dilute what makes the firm valuable. It compounds it.”
Wealthspire Launches Sports & Entertainment Practice
Wealthspire launched a sports and entertainment practice within its family office division to serve professional athletes, entertainers, creators and other individual investors. Frank Marzano, Managing Director and Head of Wealthspire Sports & Entertainment and Co‑Head of Wealthspire Family Office, leads the practice. It was overseeing about $2.88 billion in AUM and serving more than 200 ultra‑high net worth clients, families and institutions as of Sept. 1.
Approximately 20 advisors are dedicated to the practice, Marzano told Wealth Solutions Report. Its services address fluctuating income, contract and compensation arrangements, tax and estate planning, business ventures, real estate, charitable giving and career transitions. It also coordinates with clients’ agents, attorneys, accountants and business managers. Marzano joined Wealthspire in 2023 through the firm’s acquisition of GM Advisory Group.
Marzano said, “We always envisioned this to be a specialty area for clients and were focused on developing more business within sports and entertainment. With the expansion of Wealthspire, we knew that launching Wealthspire Family Office gave us the opportunity to truly establish a practice devoted to sports and entertainment.”
Mercer Refinances $1.9 Billion And Adds $340 Million Credit Facility
Mercer Advisors, an RIA, completed a $1.9 billion debt refinancing through a syndicated term loan B with a seven‑year maturity, along with a $340 million revolving credit facility with a five‑year maturity. The transaction marks Mercer’s entry into the broadly syndicated loan market. The new term loan replaces its private debt financing, extends maturities and expands its lender group to institutional investors, according to the firm.
Goldman Sachs led the financing, with participation from 10 other financial institutions. Mercer said demand exceeded the amount offered and that the revolving credit facility will support investment in client services, employees and its platform.
Gün Keresteci, Chief Financial Officer of Mercer Advisors, said, “This structure gives us meaningfully lower financing costs and a broader, more diversified investor base. It will unlock even greater capacity to invest in services for our clients and continue strengthening the platform as we scale.”
Promotions & People Moves
Arax Appoints Diego Galan As Chief Operating Officer
Arax appointed Diego Galan as Chief Operating Officer, expanding his responsibilities while he continues leading the finance department. Galan has served as Chief Financial Officer since the firm’s founding in 2022. He will oversee operations, technology, M&A and human resources. He succeeds John O’Connor, who will move to a leadership role in Arax’s Project Management Office focused on executing strategic initiatives.
Galan has nearly two decades of experience across financial services, strategy, operations and technology. Before joining Arax, he co‑founded wealth management fintech Bento Engine and served as its Chief Operating Officer. Earlier roles included senior leadership positions at Raymond James and Deutsche Bank and consulting at Boston Consulting Group. Arax makes controlling investments in RIAs and advisor teams and is backed by RedBird Capital Partners.
Haig Ariyan, Founder and CEO of Arax, said, “Diego and I have worked together for many years and have long shared the vision for building this firm. From the outset, he has played a central role in building Arax into what it is today, with leadership that has extended well beyond finance. This appointment formalizes the broader role he has executed across the firm since day one.”
Wealth Solutions Report can be reached at info@wealthsolutionsreport.com.
