This edition of the Deals & Recruiting Roundup covers Corient acquiring Palo Alto Wealth Advisors, Berkshire Global reporting on record M&A activity, Bluespring acquiring Coghill, AssetMark debuting a growth consulting service, Wealth.com launching new tax services, LPL adding a $2 billion Ohio team, Elevation Point staking $900 million Forta, Farmers launching an RIA, NewEdge recruiting $1.4 billion ClearTrust, Lifeworks partnering with Altruist, FFP announcing its 2026 board leadership and Sowell Management naming Daryl Seaton as CEO.
EDITOR IN CHIEF’S TAKE:
Wealth.com announced it is launching tax planning tools alongside its estate planning services. As the race to provide estate planning services for advisors heats up, adding the intertwined area of tax planning makes sense, and could serve as a differentiator for prospects while also gaining more wallet share from those already using its estate planning services. It’s a good example of a firm building adjacent services to complement existing ones.
– Julius Buchanan, Editor in Chief, Wealth Solutions Report
Mergers & Acquisitions
Corient Acquires $766.7 Million Palo Alto Wealth Advisors
Miami-based Corient acquires Palo Alto Wealth Advisors, an RIA with $766.7 million in assets under management (AUM). Palo Alto Founders Ryan Schmidt and Nate Blair join Corient, together with their team.
Palo Alto is a Silicon Valley advisory firm serving ultra-high and high net worth technology entrepreneurs and their families. Corient, founded in 2020, operates under a fee-only structure and a private partnership model. It had more than 260 partners and approximately $218 billion in client assets as of Sept. 30.
“Corient has deep expertise serving founders and entrepreneurs, including a substantial number of technology leaders,” said Kurt MacAlpine, Partner and CEO of Corient. “The Palo Alto team shares that focus and brings additional depth that strengthens our leadership in the space.”
Berkshire Global: U.S. RIA Deal Volume Sets Record In 2025
According to a report from Berkshire Global Advisors, 2025 was the most active year on record for U.S. wealth management M&A, with 349 transactions involving RIAs with more than $100 million in AUM, much higher than 2024’s 276 deals. U.S. activity rose 26% year over year, peaking in the third quarter with 102 deals, while dealmaking “shows no signs of slowing,” the firm said.
Despite that, the firm reported that the median acquired RIA size decreased to $597 million from $609 million in 2024 and RIAs with $500 million or less represented 44% of transactions.
Berkshire said strategic acquisitions accounted for 85% of U.S. deal activity, while financings, minority investments and recapitalizations accounted for 15%. It also said 2025 included 12 recapitalizations among platforms with at least $10 billion in AUM.
On drivers, the report said internal successions have become harder to execute as RIA valuations have climbed, so that selling to an external buyer rather than to younger advisors has become the most practical path for many firms. It also said client expectations and the need for scale are influencing consolidation, including through broader service offerings and technology investments.
Bluespring Acquires $600 Million Firm In Pittsburgh
Austin-based Bluespring Wealth Partners acquires Coghill Investment Strategies, a Pittsburgh advisory firm with approximately $600 million in AUM. The firm focuses on generational wealth management for business owners and executives, as well as life transition planning.
Coghill was founded in 2011 by Carrie Coghill, a 40-year industry veteran, along with Partners Michael Cooley and Shana Bielich. Coghill is the author of several personal finance books, including “What’s Your Investing IQ?” and “The Newlyweds’ Guide to Investing & Personal Finance.” Bluespring, a subsidiary of Kestra Holdings, is an acquirer of RIAs and wealth management firms with more than $6 billion in AUM, the firm said.
“For us, this partnership was about creating a structure that supports growth while preserving our culture and commitment to clients,” said Coghill. “When thinking about the future of our business, my partners and I were intentional about aligning with an organization that shares our values, provides strategic support, and creates opportunities for our team while ensuring top-tier service for the clients who have trusted us for decades.”
Elevation Point Stakes $900 Million Forta Wealth
Minneapolis-based Elevation Point announces a minority investment in Forta Wealth Partners of Indianapolis, an advisory team with over $900 million in assets under supervision. The team, led by Principal and Wealth Advisor Will Turner, was previously with Merrill Lynch Wealth Management under the name The Turner Group.
The Forta team includes: Principals and Wealth Advisors Jon Shurtz and Harrison “Taylor” McDougal, Client Services Associate Brandon Marvel, Manager of Team and Client Services Holly Hynes, and Financial Advisor Madeline Armstrong. Elevation Point is a minority stakes partner for advisory firms that was founded 19 months ago. It has strategic investments in wealth management teams with approximately $11.9 billion in assets under supervision, the firm said.
“I've had the privilege of knowing Will since he started at Merrill Lynch, and I've witnessed firsthand his growth and the incredible team he has built,” said Jim Dickson, Founding Partner and CEO of Elevation Point. “Will, Jon, Taylor, and their colleagues bring deep, wide-ranging expertise and more than 60 years of combined experience. As a youthful, seasoned team with a relentless drive to exceed client expectations and continuously evolve, they represent the future of wealth management.”
Strategic Initiatives
AssetMark Debuts Growth Consulting Service For Advisors
Concord, California-based AssetMark launches a growth consulting service for advisors. AssetMark Growth Consulting (AGC) is an 18-month consulting program providing strategies to accelerate firms’ organic growth. The program starts with a business assessment, paired with a structure of defined milestones, execution support and accountability.
AGC provides support with lead generation and prospecting, along with progress reviews. AssetMark said it aims to help advisors achieve 18% to 20% more growth. AssetMark’s lineup of offerings also includes the First Year Success program for new advisors, the Business Builder Webinar Series and the Ascent program for succession planning. AssetMark had over $160 billion in platform assets as of Dec. 31.
“Organic growth is the lifeblood of every advisory firm – it’s what signals a healthy business and drives long-term value,” said Michael Kim, CEO of AssetMark. “AssetMark Growth Consulting gives advisors the structure and accountability they need to achieve that growth in today’s competitive environment.”
Wealth.com Adds New Tax Modeling Tools To Estate Planning Platform
Wealth.com announces the launch of new tax planning tools within its estate planning workflow. Wealth.com Tax Planning lets advisors model various tax scenarios for multi-generational estate planning and compare the long-term impact of different strategies on family estates, gifting and charitable giving.
The tool guides advisors through planning workflows with “Quick Actions” and allows natural-language data capture. It also enables client reporting through a secure portal. Tax Planning will be available starting April 2 on the Wealth.com platform, the firm said.
“Tax planning and estate planning are inseparable parts of a holistic financial plan, yet the industry has historically treated them as disconnected disciplines,” said Rafael Loureiro, Co-Founder and CEO of Wealth.com. “Advisors are being asked to do more, with greater precision and accountability. We built Wealth.com Tax Planning to move beyond calculating a tax bill and toward architecting a client’s future.”
Advisor Transactions
LPL Adds $2 Billion Ohio Advisor Team That Launches Moto Wealth Partners
LPL Financial announces that Ohio wealth advisors Breanne Bovara and Derrick Petry have joined the firm’s W-2 channel, Linsco by LPL Financial, to launch Moto Wealth Partners. The advisors reported serving about $2 billion at their prior firm, Fifth Third Private Bank, in advisory, brokerage and retirement plan assets as of Dec. 31, 2024, LPL said.
Moto, with offices in Cincinnati and Dayton, focuses on high net worth and ultra-high net worth families, with a strong presence in Ohio. Bovara serves as Moto’s Managing Partner and Wealth Advisor, and Petry as Partner and Director of Investment Strategy. LPL serviced and custodied about $2.3 trillion in brokerage and advisory assets as of Oct. 30.
“LPL provides the operational freedom and sophisticated tools we need to elevate the client experience,” said Bovara. “Their platform gives us access to cutting-edge technology, integrated planning resources and a robust client engagement ecosystem. This partnership means we can focus on what matters most: delivering highly personalized, planning first strategies for our clients.”
Farmers Launches RIA Farmers Asset Management
Farmers launched the full-service RIA Farmers Asset Management (FAM) as part of the Farmers Insurance Group of Companies. The RIA is expected to offer clients wealth management services along with its traditional investment and insurance services. FAM selected Charles Schwab for custody and clearing, and Orion for support with technology, planning, outsourced chief investment officer services and investment platforms.
Farmers has offered wealth management services through Farmers Financial Solutions for more than 25 years. The broker-dealer includes more than 2,500 registered representatives and oversees more than $10 billion in assets.
“We are building a full spectrum of financial offerings because investment management and insurance drive mutual growth and help customers with a broad array of financial needs,” said Zachary Schear, President of FAM, and President and CEO of Farmers Financial Solutions. “Farmers Asset Management, LLC is a modern wealth management firm designed to provide clients a wide array of fee-based financial planning and investment services.”
NewEdge Recruits $1.4 Billion ClearTrust Team From Ameriprise
NewEdge Advisors adds Franklin, Tennessee-based ClearTrust Wealth Advisors to its platform. The 24-person advisory team joins from Ameriprise Financial, where it oversaw approximately $1.4 billion in client assets.
ClearTrust, founded in 2009, is led by Managing Partners Matt Robins, Nick Stamatis and Joe Creecy. The firm provides wealth management services to small business owners, executives and multi-generational families. NewEdge Advisors, part of NewEdge Capital Group, serviced over $88 billion in client assets as of Dec. 31, the firm said.
“Matt, Joe, Nick and the entire ClearTrust team represent exactly the type of advisor-led organization we are proud to support,” said Alex Goss, CEO of NewEdge Advisors. “Their commitment to client service, thoughtful growth and team culture aligns closely with our mission.”
Strategic Partnerships
$900 Million Lifeworks Selects Altruist As Custodial Partner
Grand Rapids, Michigan-based Lifeworks Advisors selects Los Angeles-based Altruist as its custodial partner. Altruist said Lifeworks sought a technology partner that could help it cut costs and streamline operations. It also chose Altruist for its intuitive user experience, the firm said.
Lifeworks serves more than 2,000 client households and has $900 million in client assets. It runs The Future of Advice Academy, an educational portal for advisors. Altruist’s automated capabilities are saving the advisory firm more than $1,800 per year, per client, by reducing manual processes, according to the news release.
“Far too many advisors are held back by technology that was never built to match the ambition of this profession,” said Jason Wenk, Founder and CEO of Altruist. “Lifeworks is challenging that reality. They’re doubling down on tools that expand their capacity to serve clients at a higher level and grow faster.”
Promotions & People Moves
FFP Announces New Chair And Vice Chair
The Foundation for Financial Planning (FFP) announces its 2026 Board of Trustees leadership, which includes Yonhee Choi Gordon, who shifts to Chair from Vice Chair, and Terri Fiedler, who becomes Vice Chair, a one-year position. Five new trustees will serve on the FFP Board for the 2026-28 term: Yusuf Abugideiri, Co-CEO and Chief Investment Officer, Yeske Buie; Jon Beatty, Managing Director and Head of Schwab Advisor Services, Charles Schwab; Ryan Fleming, Principal, Armstrong, Fleming & Moore; Kate Healy, CEO, AdvoKate IQ; and Stacey McKinnon, Chief Operating Officer, Chief Marketing Officer and Partner, Morton Wealth.
Gordon has served on the FFP board since 2021 and has also served as Chair of its Grants Committee. She recently retired from the JMG Financial Group, where she served in several leadership roles, including Chief Operating Officer. Fiedler has been the President of Retirement Services at Corebridge Financial since 2022.
“It’s an honor to serve as Chair of the Foundation for Financial Planning,” said Gordon. “FFP’s mission is rooted in the belief that everyone deserves access to thoughtful, high-quality financial guidance, especially during moments of crisis. I’m committed to working with our board, partners, and volunteers to extend that impact to even more people in need.”
Sowell Management Names Daryl Seaton As CEO
Little Rock, Arkansas-based Sowell Management names Daryl Seaton as CEO. Seaton joined the firm in 2020, first as Chief Operating Officer, then becoming President in 2023. With over 25 years of experience in financial services, Seaton began his career at New York Life, where he rose to the rank of Senior Partner. He later founded Solera Asset Managers and had an eight-year advisor relationship with Sowell Management.
Firm Founder Bill Sowell becomes Chief Strategy Officer, with a focus on long-term strategic and inorganic growth, including mergers and acquisitions. In 1995, he founded a firm that later became Sowell Management. It was one of the industry’s first fee-based practices, according to the firm. It had over $6 billion in assets under management and advisement as of September.
“Daryl is a natural leader and an enthusiastic champion of the culture we established at Sowell since founding the company,” said Sowell. “This is a thoughtful evolution in our leadership, one that Daryl and I have been intentionally working toward over the past several years.”
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