In this week’s roundup, Summit staked Signet Financial Management, Goldman Sachs invested in GeoWealth, RBC added the Turnock Bonacci Group, Raymond James recruited an Illinois advisor team and a South Carolina advisor, Carson Wealth added Furstenau, LPL onboarded Consilium Wealth, Stratos Wealth Partners added Timothy Shaw, Cetera recruited Cunningham Financial Group, Edelman launched a planner ownership program, F2 Strategy rehired Ryan Beach as CEO, Perigon added three new partners and Republic appointed Lori Kamen as Chief Compliance Officer.
Editor in Chief’s Take:
This week’s announcements by Edelman and Perigon highlight that equity isn’t just part of the pay package in M&A – it can also be an incentive that locks in and rewards talent, aligns the recipients’ interests with the firm’s and clearly demonstrates the C-suite’s commitment to the new shareholders. It’s not a new strategy, but it is a wise one when there’s a talent shortage in the industry.
– Julius Buchanan, Editor in Chief, Wealth Solutions Report
Mergers & Acquisitions
Summit Takes Minority Stake In Signet Financial Management
Summit Financial took a minority stake in Signet Financial Management, a Parsippany, New Jersey-based RIA with $1.2 billion in assets. Merchant Investment Management holds stakes in both firms. Signet joined Summit’s ADV in February, bringing Summit’s client assets under administration to just over $27 billion at the end of that month, according to Summit CEO and Chairman Stan Gregor.
Signet was founded in 1988 and also has offices in Sterling, Virginia, and in Miami and Naples, Florida. The RIA is led by partners Eugene Yashin, chief executive officer and chief investment officer, Steve Tuttle, chief investment strategist, and Shawn Hirsch, and the transaction fits Summit’s strategy of taking stakes in RIAs while providing technology, investment and planning support.
“We are honored and humbled that Signet has agreed to partner with Summit,” said Stan Gregor, CEO and Chairman of Summit Financial. “By joining Summit and gaining access to all of our wealth management, technology, and business resources, we’re excited to see Signet achieve even greater heights.”
GeoWealth Extends Series C With Goldman Sachs Investment
GeoWealth said Goldman Sachs made a $42.5 million minority investment as part of an extension of the firm’s Series C financing round. The Chicago-based TAMP said the new capital will support growth and provide liquidity to shareholders, while the company’s family office owner, The Globe Resources Group, will remain the majority owner.
The company said Apollo, BlackRock, J.P. Morgan Asset Management and Kayne Anderson Capital Advisors, sub-advised by Composition Capital, remain minority investors. GeoWealth attributed its growth to demand from larger enterprise RIAs, new custom model portfolio partnerships and expanded work with existing RIA clients.
“We’re pleased to welcome Goldman Sachs as a new investor and build on the strong partnership we’ve already established together,” said Colin Falls, CEO of GeoWealth. “We’ve been very intentional about maintaining the right balance of investors while partnering with some of the world’s largest institutions that help us think strategically, grow thoughtfully and continue to innovate for our RIA partners.”
Advisor Transactions
RBC Wealth Management Adds $360 Million Maryland Team
RBC Wealth Management – U.S. added the Turnock Bonacci Group to its Annapolis, Maryland, branch from Morgan Stanley. The team previously oversaw nearly $360 million in client assets and includes Kevin Turnock, Managing Director-Financial Advisor and Senior Portfolio Manager; Anthony Bonacci, Senior Vice President-Financial Advisor and Senior Portfolio Manager; Michael Norris, Senior Business Associate; and Julia Harrison, Investment Associate.
The group focuses on wealth planning for ultra-high net worth clients and brings more than 50 years of combined experience, according to the announcement. RBC Wealth Management – U.S. said the team works on issues including multigenerational planning, business transitions and portfolio management.
“The Turnock Bonacci Group is a valuable addition to our Mid-Atlantic region,” said Warren Bischoff, Mid-Atlantic Complex Director at RBC Wealth Management. “We are pleased to welcome them and look forward to serving their ultra-high-net-worth clients with the full resources of our platform.”
Raymond James Recruits Illinois Team, South Carolina Advisor
Raymond James recruited a five-advisor team in Moline, Illinois, to its independent advisor channel and also added advisor James McNally in Greenville, South Carolina, to its employee advisor channel. The Illinois team, operating as SBS Financial, came from LPL Financial with $385 million in client assets, while McNally joined from J.P. Morgan with $168 million in client assets.
The SBS Financial team includes J. Steven Bush, Shane Swift, James Schmertmann, Brett Johnson and Eric VanWinkle, along with support staff Sarah Johanson, Clarissa Conduff and Cameron Drury. McNally, who operates as J.P. McNally Wealth Management of Raymond James, serves business owners, families, individuals and retirees and holds the title of Senior Vice President of Investments.
“Raymond James’ people-first culture keeps the advisor-client relationship at the center of every decision,” said Swift. “The firm’s modern technology platforms, private wealth capabilities for high-net-worth clients and responsive home office support give our team the resources to deliver coordinated advice while operating with the independence we value.”
Carson Wealth Adds Furstenau Financial In Nebraska
Carson Group said Furstenau Financial joined as a wholly owned Carson Wealth office. Ryan Furstenau, Managing Partner and Wealth Advisor, and his team joined from LPL Financial, where they reported serving about $245 million in assets under advisement.
Based in Neligh, Nebraska, the team also includes Wealth Advisor Tyler Lindsay and a four-person client services group. Carson said the transaction makes Furstenau Financial its 41st wholly owned office. Wise Rhino served as exclusive M&A advisor to Furstenau Financial.
“Our mission is to empower our clients to realize their dreams and goals by providing faithful advice with superior service while executing financial strategies with patience and discipline,” said Furstenau. “This move to Carson gives us the flexibility we need to elevate the level of care we provide clients, streamline the experience through enhanced technology and expand access to investment and tax strategies.”
LPL Financial Onboards Consilium Wealth
LPL Financial said Advisors Stephen Horvath, Brady Doe and David Hermann joined its broker-dealer and RIA platform to form Consilium Wealth. The Tucson, Arizona-based team reported serving more than $250 million in advisory, brokerage and retirement plan assets. Horvath and Doe joined from Cambridge and Hermann joined from First Heartland Capital.
According to a news release, the team has nearly 60 years of combined experience and works primarily with retired and retiring university professors, while also serving other clients referred through the academic community.
“Our commitment extends not only to our clients, but also to their children, grandchildren and philanthropic interests,” said Horvath. “We help families plan across generations through comprehensive strategies designed with a goal to grow and protect wealth, reduce tax burdens and ensure the orderly distribution of assets to heirs and charitable causes.”
Stratos Wealth Partners Adds Timothy Shaw
Stratos Wealth Partners said financial advisor Timothy Shaw joined its platform and launched Shaw Planning & Advisory. The announcement said Shaw brings nearly 30 years of experience in financial markets and wealth management and is based in Garden City, New York.
Shaw began his career in 1997 as a trader and market maker in equities, options, commodities and ETFs. He founded Shaw Trading in 2006 and later moved into private wealth management in 2013, where the release said he focused on financial planning and investment management for individuals and families.
“I am extremely excited to be back running my own practice, charting and setting its course to provide comprehensive financial guidance to my clients,” said Shaw.
Cetera Recruits Cunningham Financial Group
Cetera said Jonathan Cunningham and Cunningham Financial Group joined the firm through its Summit Financial Networks community. The team is based in the Birmingham, Alabama, area and oversees about $200 million in assets under administration.
The team includes Cunningham, who is Managing Partner, along with Financial Advisors Brian Walsh and Josh Little. Cetera said the firm provides investment management, financial planning and tax-aware guidance for individuals and families.
“We were looking for a partner that allows us to stay fully independent while giving us the resources and support to grow,” said Cunningham. “What stood out about Cetera and the Summit community was the balance of flexibility and hands-on support.”
Strategic Initiatives
Edelman Financial Engines Launches Planner Ownership Program
Edelman Financial Engines said it is expanding employee equity ownership with a $175 million distribution to its financial planners and plans to add a discretionary co-investment option later this year. The firm said the program will make all current and future planners owners of the business.
The company said the program builds on its broader effort to widen access to financial planning for the mass affluent.
“This is an exciting day for our planners and for Edelman Financial Engines,” said Ralph Haberli, CEO and President of Edelman. “Through this $175 million initial investment, we are ensuring that our talented professionals continue to benefit from their hard work and dedication as owners of our business.”
Promotions & People Moves
F2 Strategy Reappoints Ryan Beach As CEO
F2 Strategy said Ryan Beach has been reappointed CEO. According to his LinkedIn profile, he spent seven months as Group Head for North America at FNZ. The company said he remained in contact with F2’s leadership during his time away.
The firm said it posted more than 80% year-over-year growth in 2025, during which it acquired HBMJ Consulting and continued to integrate Aliter Investment Services.
“F2 sits at the center of meaningful transformation across wealth and asset management, and that opportunity is deeply compelling to me,” said Beach. “My time away gave me valuable perspective, and it made me realize just how special F2 is.”
Perigon Adds Three Partners Through Internal Program
RIA Perigon Wealth Management said Chris Spires, Scott Yi and Ron Op het Veld completed its Path to Partnership Program and became partners in the firm. Perigon said the program began in 2024 and is open to team members and certain 1099 advisors seeking a partnership stake. The firm reported about $11.2 billion in client assets as of Dec. 31.
Spires joined in 2021, Yi joined in 2017 and Op het Veld joined in 2023. All three are Wealth Advisors. Yi is also Head of Alternative Investments.
“Perigon is built on an advisor-led, advisor-owned philosophy and structure, so we want to ensure our team members have a path to partnership,” said Arthur Ambarik, CEO of Perigon Wealth Management. “We are proud to welcome our next class of program graduates who are now partners in our firm.”
Republic Capital Group Appoints Lori Kamen As Chief Compliance Officer
Republic Capital Group appointed Lori Kamen as Chief Compliance Officer. The firm said Kamen has nearly three decades of experience in broker-dealer and investment advisory compliance and will work in the company’s investment banking platform.
Kamen most recently served as President and Chief Compliance Officer for Aurora Securities, according to her LinkedIn profile. Republic said she will oversee compliance from engagement through closing and coordinate with leadership and banking teams on regulatory alignment and risk management.
“I am deeply honored to be selected as chief compliance officer of Republic Capital Group,” said Kamen. “Compliance is more than a regulatory obligation. It is the foundation of trust, transparency and long-term success.”
Wealth Solutions Report can be reached at info@wealthsolutionsreport.com.
