This edition of the Deals & Recruiting Roundup covers Bluespring Wealth’s purchase of Reliant Wealth, Merit’s acquisition of Hershey Wealth, Emigrant’s stake in Principle Wealth, Basecamp Wealth founded, former Truist advisors launch Aria Wealth, Prime Capital’s acquisition of Sugarloaf Wealth, Carnegie’s acquisition of Eagle Ridge, Sanctuary Wealth recruits NewSpring, RISR’s partnership with Wealthcare Capital, Integrated’s Chief Brand Officer promotion, CD&R’s new Operating Advisor and IAA’s homegrown President.
Larry’s Take
Often experienced executives are found through a candidate search that recruits an accomplished leader from outside a firm to bring something new to leadership. In other words, this roundup’s Promotions and People Moves section is often dominated by people moves. But today, two of the three stories cover internal promotions.
Matt Ackermann rose to a larger C-suite role in Integrated Partners and IAA’s new President, Matthew Lampman, started 13 years ago as an unpaid intern. Both were recognized for their talent and rewarded with greater leadership opportunities.
It’s easy to miss the forest for the trees. Top talent may be found in your own corridors, already on your payroll, familiar with your processes, fluent in your firm’s culture and hoping to stay with you as they grow. If you need to fill a leadership role, it pays to scan your own office, looking at familiar colleagues with fresh eyes for long-term potential and talent.
If you would like to discuss Larry’s Take further, including how these trends might impact your business, please contact me at larry.roth@rlrstrategicpartners.com.
Mergers & Acquisitions
Bluespring Wealth Purchases Reliant Wealth
Austin, Texas-based Bluespring Wealth Partners is acquiring Reliant Wealth Planning, a Louisville, Kentucky-based financial advisory firm with $560 million in assets under management (AUM).
Founding Partners Shaun Chelf and Laura Clark launched Reliant Wealth in 2017. It now has 13 team members and offers services including wealth management, retirement planning and cash flow strategies, investment management, estate planning, charitable strategies and risk management.
“When searching for a partner, Bluespring truly stood out above everyone else Laura and I spoke to,” Chelf said. “They alone wanted us to keep doing the exact things in advanced planning and investing that made us successful and unique. Their offer to come alongside to enhance, but not change, our DNA made them not just the obvious choice, but the only choice.”
Merit Financial Links With Hershey Wealth, Adding $233 Million In AUM
Atlanta-based Merit Financial Advisors acquired Hershey Wealth Advisors, giving Merit a fifth Pennsylvania office while boosting its AUM by $233 million. The deal is Merit’s 33rd acquisition since receiving a minority investment from Wealth Partners Capital Group in December 2020.
Gregory K. Richards, Principal of Hershey, will become a Wealth Manager and Partner at Merit and bring his team. Hershey provides financial planning, investment management, long-term care and disability insurance, and help with income tax returns.
“At Hershey, we always put our clients’ best interests first,” Richards said. “By joining forces with Merit, we’re infusing more resources into our offering, providing us more time to spend with clients. Merit’s offering will simplify our back-office complexities, broaden our access to technology, and increase our reach in the region.”
Emigrant Stakes Principle Wealth
New York City-based Emigrant Partners is making a strategic minority investment in Principle Wealth Partners. Headquartered in Madison, Connecticut, Principle Wealth manages $2.8 billion in assets, and was founded by CEO Robert Paolucci in 2017. Principle plans to use the investment to expand its technology, team and services, and to support the launch of a new flagship headquarters.
Emigrant makes minority, non-voting investments in wealth and alternative asset management businesses, and is currently partnered with 20 firms that have $115 billion in assets.
“Principle Wealth Partners is one of the most impressive firms you will see in our industry, and we are excited to have them join the Emigrant network,” said Jenny Souza, CEO and President of Emigrant Partners. “They are as sophisticated and as client-centric as it gets, and they have a unique approach to managing family wealth.”
Carnegie Investment Acquired Eagle Ridge
Cleveland-based Carnegie Investment Counsel, a $5 billion RIA, acquired Eagle Ridge Investment, a Stamford, Connecticut-based investment advisory firm. The acquisition brings $1.3 billion in AUM and 14 employees to Carnegie.
Under the terms of the deal, Eagle Ridge’s leadership and staff will remain in place. The transaction is expected to strengthen Carnegie’s presence in the greater New York metropolitan market. Berkshire Global Advisors served as financial advisor to Eagle Ridge on the transaction.
“We’re honored to welcome the team at Eagle Ridge to our organization,” says Richard Alt, CEO and Principal at Carnegie. “Growth has always been essential to our success, and this acquisition represents an exciting next step in our firm’s development. The experience and capabilities from the Eagle Ridge team will be a valuable asset as we foster our continued growth and expand our reach to new markets across the Northeast.”
Prime Capital Acquires Sugarloaf Wealth
Overland Park, Kansas-based Prime Capital Financial is making its first move into the Atlanta metro market with the acquisition of Sugarloaf Wealth Management, headquartered in Duluth, Georgia. Sugarloaf is expected to solidify Prime Capital’s presence in the Southeast. The transaction is expected to close in early March and was advised by Houlihan Lokey.
The deal, the first transaction to be announced by Prime Capital this year, will add almost $1 billion in combined AUM and assets under advisement AUA to Prime Capital.
The acquisition is expected to enhance Prime Capital’s capabilities, add a team of 13 professionals, including eight advisors with the CFP designation.
“Prime Capital Financial actively seeks firms that share our dedication to providing tailored financial solutions and exceptional service,” said Glenn Spencer, CEO at Prime Capital. “Sugarloaf’s rich history and specialized expertise make them an ideal partner. Together, we’re well-positioned to broaden our support to individuals and families across the Southeast region.”
Advisor Transactions
Former Mercer And Laird Norton Advisors Roll Out New RIA Basecamp
Former Mercer Advisors and Laird Norton Wetherby advisors launched a new firm, Basecamp Wealth Advisors. According to the firm’s Form ADV, Basecamp is led by Teri LaMar, Jay Levesque, Lin Gong and Brian Johnson. Managing Partner and Wealth Advisor LaMar owns the largest stake in the new firm. Levesque will serve as Partner, CIO and Wealth Advisor. Gong will take the role of Partner, COO and Wealth Advisor. Johnson will be Partner, Chief Compliance Officer and Wealth Advisor.
The advisors previously worked with Filament, which merged with Laird Norton Wealth Management, a Seattle-based RIA, in 2020. From May to December 2024, Levesque worked at Mercer Advisors.
Levesque announced Basecamp’s launch on LinkedIn: “I’m thrilled to announce the launch of Basecamp Wealth Advisors, where I’ll be serving as Partner and Chief Investment Officer. I’m especially proud to take this step alongside former colleagues who have become some of my closest professional friends (Teri LaMar, Brian Johnson, Lin Gong) as we build something unique in today’s industry.”
Former Truist Advisors Launch Virginia-Based Financial Advisory Firm
A pair of former Truist financial advisors launched Aria Wealth Partners. Based in Charlottesville, Virginia, the firm is led by Paula Gunter and Caitlin Borland, who are listed as Principals on the firm’s Form ADV. Borland is also listed as Chief Compliance Officer.
According to the firm’s website, it chose Charles Schwab as custodian and offers services including charitable giving, retirement planning, financial planning, legacy and estate planning guidance, cash flow management and investment management.
Gunter has been a financial advisor since 2002, specializing in retail, private banking, retirement, financial planning and investment management. Prior to her time at Truist, Caitlin spent almost a decade at J.P. Morgan in New York City, where she advised hedge fund clients on equity, credit and synthetic strategies.
Breakaway NewSpring Wealth Joins Sanctuary From UBS
In its second recruitment of the year, Sanctuary Wealth announced that Kristin Larson joined from UBS and launched NewSpring Wealth Partners. The Minneapolis-based practice manages nearly $200 million in total client assets. This announcement follows Sanctuary’s $700 million recruitment of Hillguard Wealth Management in January. Sanctuary has over 120 partner firms in 30 states, with approximately $50 billion in assets on its platform.
Spending nine years at UBS, Larson most recently served as Senior Vice President, Wealth Management, and Financial Advisor with the Carlson Larson Wealth Management group at UBS Financial Services. Before that, she served in various planning and client service roles at Wells Fargo Advisors and Ameriprise.
“We were pleased to invite Kristin to join Sanctuary’s Partnered Independence model and are excited to help her launch NewSpring,” said Vince Fertitta, President of Sanctuary Wealth. “Her accomplishments so early in her career are admirable – already recognized as one of the industry’s top next-gen and top woman advisors.”
Strategic Partnerships
Owner Engagement Specialist RISR Partners With Wealthcare Capital
RISR, a business owner engagement platform for financial advisors, is partnering with RIA Wealthcare Capital Management to give the firm’s advisors a more in-depth look at the needs of their business owner clients. Founded in 2024, RISR is an engagement platform designed to help advisors and the business owners they serve.
This partnership is expected to boost client engagement efforts for Wealthcare’s more than 170 affiliated advisors. The firms see demand from business owners who need to make retirement preparations and engage in succession planning.
“Business owners need an advisor with the right data at their fingertips to guide them through critical decisions,” said Jason Early, Founder and CEO of RISR. “Whether it’s transitioning to retirement, selling their business for maximum value, or implementing a succession plan that ensures their business thrives for the next generation, our team is eager to see the Wealthcare team take hold of our technology to impact their clients in the present and the future positively.”
Promotions And People Moves
Integrated Partners Taps Ackermann As New Chief Brand Officer
Boston-based Integrated Partners, a financial planning firm and RIA with more than $20 billion in assets under advisement, is promoting Matt Ackermann to Chief Brand Officer. Ackermann has been with Integrated Partners since 2020 as Chief Content Officer, playing a role in shaping the company’s brand identity, content strategy and culture.
In his new role, Ackermann is expected to work with Integrated President Andree Mohr, Chief Marketing Officer Becca Zophin and Chief Growth Officer Rob Sandrew to build its storytelling, marketing efforts and external partnerships.
“Matt’s new role is a natural evolution for him and the organization as a whole,” Mohr said. “His media, storytelling, and brand development expertise has been invaluable to our growth over the past four years. 2024 was a landmark year in our growth, making now the perfect time to amplify our story, and Matt is ideally positioned to lead that charge.”
CD&R Hires Former Schwab CFO Crawford As Operating Advisor
New York City-based CD&R added former Charles Schwab CFO Peter Crawford as an Operating Advisor to CD&R funds, to help the firm identify and evaluate new investments in the financial services sector and aid its team and management teams of portfolio companies to support growth.
As Schwab’s CFO from 2017 to 2024, Crawford supporting the integration of TD Ameritrade. Before his CFO role, Crawford was the Executive Vice President of Finance, leading Schwab’s treasury and controller functions, planning, and enterprise finance.
“CD&R has a strong reputation for driving management best practices and pursuing operational excellence in collaboration with its portfolio management teams,” said Crawford. “I look forward to working closely with CD&R to help identify and implement meaningful growth opportunities.”
International Assets Advisory Taps Former Intern As President
Orlando, Florida-based International Assets Advisory (IAA) has announced the promotion of Matthew Lampman to President. Beginning at the firm as an unpaid intern, Lampman rose through the ranks. He will retain his current role of COO in the near term and will oversee a staff of 30, managing $4.8 billion in AUM. The firm’s former President, Ed Cofrancesco, who is also Founder and CEO, will maintain the CEO role.
A Michigan native, Lampman attended the University of Central Florida in Orlando to pursue a degree in finance. He took the internship while completing his senior year in the summer of 2012, where he met Cofrancesco.
“I noticed right away that Matt was proud of his work, but he was never too proud to do whatever work needed to be done,” Cofrancesco said. “I grew up in a working-class family in Brooklyn, so Matt and I have similar roots, values, and work ethic.”
Julius Buchanan, Editor in Chief at Wealth Solutions Report, can be reached at julius.buchanan@wealthsolutionsreport.com.
