MAI bought LOC Investment Advisers; Integrated Pension Services acquired BDS Consulting Group; Elevation Point staked Hampton Bluff Capital Partners; Ascentis Wealth Management onboarded newly launched Ascentis Family Wealth; LPL recruited Shoreline Private Wealth Management and advisor Tom Madigan; Raymond James onboarded the Touchpoint Financial Advisor Group team; Osaic added Westport Private Wealth and Hoyt Jensen & Associates; Simplicity partnered with LPL; and Sowell, World Investment Advisors, Mercer Advisors and AE Wealth made leadership appointments.
EDITOR IN CHIEF’S TAKE
This week’s news includes LPL’s agreement with Simplicity to enhance insurance support for advisors. On the same day as LPL’s announcement, Orion announced an enhanced integration with DPL for insurance and annuity solutions. As technology enhances advisors’ ability to bring these products to clients efficiently, we may see advisors capture more wallet share and better meet client demands for holistic advice through annuities and insurance products.
– Julius Buchanan, Editor in Chief, Wealth Solutions Report
Mergers & Acquisitions
MAI Adds LOC Investment Advisers In West Virginia And Florida
MAI Capital Management acquired LOC Investment Advisers, a fee-only RIA with offices in Hurricane, West Virginia, and Jupiter, Florida, in a deal that closed on Feb. 13. LOC has about $759 million in assets under management (AUM).
Founded in 1981 by Robert O’Dell and David Lanham, LOC said it is the longest-tenured RIA operating in West Virginia. They will remain involved as the firm integrates into MAI. LOC Managing Director Sean Mayberry will take on the role of Senior Wealth Advisor and Team Leader, overseeing advisors and client relationships.
O’Dell said, “When Dave and I founded this firm more than four decades ago, our goal was to build something that would outlast us, and continue to serve families for generations. Partnering with MAI fulfills that vision.”
Integrated Pension Services Buys BDS Consulting Group
Integrated Pension Services acquired BDS Consulting Group, a retirement plan consulting firm serving more than 260 retirement plans. Integrated Pension said the deal expands its retirement plan and workplace wealth capabilities.
BDS founder Jill Whittredge will remain “in the near term” to support the transition, with BDS operating under its current name initially and a rebrand to Integrated Pension expected within 12 months. Integrated Pension said existing service agreements, service teams and fee structures will be honored during the transition.
Jason Grantz, CEO and Chief Revenue Officer at Integrated Pension Services, said, “This acquisition is a natural extension of our growth strategy and our mission. Bringing our teams together allows us to expand capacity, eliminate redundancy and better serve plan sponsors, advisors and participants.”
Elevation Point Makes Minority Investment In $1.3 Billion Hampton Bluff
Elevation Point said it made a minority investment in Hampton Bluff Capital Partners, an Atlanta-based wealth management firm launched by a team that previously operated as Odyssey Wealth Management within UBS Private Wealth Management, where the team managed $1.3 billion in AUM.
Hampton Bluff is led by Co-Founders and Managing Partners Krunch Kloberdanz and Justin Runager. Elevation Point said it will support Hampton Bluff with services including investment banking, lending, capital raising and municipal finance, and custody will be provided by Schwab and Goldman Sachs Custody Solutions.
Runager said, “Having complementary institutional-level tools to enhance the holistic financial picture we examine for clients is of utmost importance to our vision, allowing us to better align their wealth with their goals.”
Ascentis Onboards New Dallas Practice With Equity Stake
Ascentis Wealth Management said it onboarded newly launched Ascentis Family Wealth, a Dallas-based practice led by Kevin Gray that expects to transfer about $250 million in AUM. As part of the transaction, Gray will take an equity stake in Ascentis Wealth Management. The team includes Wealth Advisor Niko Puritz and Client Relationship Specialist Lisa Monello.
Advisory Services Network will provide Ascentis Family Wealth with operations solutions and compliance support. Gray previously founded Veracity Capital and spent more than 12 years at Ayco Private Wealth Management of Goldman Sachs.
Gray said, “Ascentis Wealth Management’s expanded resources and ambition are a huge reason why I’m partnering with the firm. I look forward to leveraging deeper investment expertise and stronger support across technology, marketing and operations.”
Advisor Transactions
LPL Recruits Shoreline Private Wealth And Advisor Tom Madigan
LPL Financial said it added two advisory practices to its broker-dealer and RIA platforms. Shoreline Private Wealth Management President Jason Mochi joined from Morgan Stanley, where he oversaw about $275 million in advisory, brokerage and retirement plan assets, while Tom Madigan had about $300 million in advisory, brokerage and retirement plan assets and joined from UBS.
Mochi is based in Santa Barbara, California, and his team includes Client Relationship Manager Janet Waller. Madigan aligned with Thimble Island Private Wealth, an existing firm supported by LPL Strategic Wealth.
Mochi said, “Shoreline offers a white glove, boutique, family focused office experience, built on personal attention and long-term relationships rather than transactional interactions. We emphasize clarity, comprehensive planning, and an environment where independence keeps the client’s best interest at the center of every decision.”
Raymond James Adds Touchpoint Team From Commonwealth
Raymond James Financial Services, the independent advisor channel for Raymond James, added Financial Advisors Reed Thompson, David Erwin, John Pratti, John Nolan, Patrick Sheehan and Jillian Feehan, who operate as Touchpoint Financial Advisor Group in Woburn, Massachusetts. The team arrived from Commonwealth Financial Network where it managed about $682 million in client assets, according to the firm.
The practice is joined by Client Service Manager Susan Nolan, Branch Operations Coordinator Phyllis McGee and Client Service Associate Jennifer Rothwell. It serves individuals, families and business owners.
Thompson said, “Our goal is to deliver clear, disciplined planning and investment guidance tailored to each client’s personal circumstances. Raymond James provides the investment platform and private wealth capabilities to support our clients’ unique needs through every life stage.”
Osaic Adds Westport Private Wealth And Hoyt Jensen & Associates
Osaic said Westport Private Wealth, led by Scott Mastocciolo and Stuart Gollomp, joined through New York Financial Partners, an Osaic OSJ. The team oversees about $252 million in client assets.
Separately, it said Hoyt Jensen & Associates, led by Justin Hoyt and Jason Jensen, joined through Undefined Gridlines, an Osaic OSJ, with about $190 million in client assets. Both teams previously affiliated with Ameriprise.
Mastocciolo said, “We’re excited to partner with Osaic and New York Financial Partners as we bring the Westport Private Wealth brand to market. Their leadership, vision and experience provide the foundation we were looking for as we build an independent firm focused on long-term growth and exceptional client service.”
Strategic Partnership
Simplicity And LPL Strike Insurance Support Agreement
LPL Financial and Simplicity Group announced an agreement intended to expand insurance capabilities and support for LPL advisors, by providing access to insurance products, operational support and training. The companies said LPL advisors who choose to use Simplicity will gain access to offerings including wholesale and point-of-sale support and “end-to-end” solutions.
According to LPL, the deal is part of building out its product ecosystem through specialized partners. As part of the deal, LPL will transfer its LPL Insurance Associates business to Simplicity.
Cheri Belski, Executive Vice President, Investment Solutions at LPL, said, “We regularly assess and evolve our product ecosystem to ensure we are investing in what matters most to advisors, institutions and investors. By partnering with Simplicity, we are accelerating access to top-tier insurance resources while staying focused on our strategy: delivering the best solutions through strong, specialized partners.”
Promotions & People Moves
Sowell Names First Chief Development Officer
Sowell Management named Vincent Gimarelli as its first Chief Development Officer, reporting to newly appointed CEO Daryl Seaton. The Little Rock, Arkansas-based RIA said Gimarelli will lead growth strategy across business development, organic advisor recruiting, investment management growth and distribution, strategic relationships and M&A initiatives.
Gimarelli previously served as AssetMark Institutional Sales and Consulting Director. The firm said the role is designed to align business development and partnerships with longer-term expansion efforts.
Seaton said, “Vince’s more than three decades of experience will be an invaluable asset to Sowell as we embark on the next phase of our growth. We will leverage that expertise as we continue to drive scalable growth, strengthen enterprise partnerships, and align development efforts with our long-term vision and advisor-first philosophy.”
World Investment Advisors Names Jeffrey Sheftic As Chief Growth Officer
World Investment Advisors, a division of World Insurance Associates, appointed Jeffrey Sheftic as Chief Growth Officer, with responsibility spanning organic growth, advisor recruiting, relationship management and strategic expansion across retirement and wealth management. Sheftic has held senior leadership roles at Prudential, Charles Schwab, ADP, Credit Suisse, Capital One and Lincoln Financial.
In a related move, World named Mike Woods Executive Vice President of Corporate Development for World Insurance, after Woods previously held the chief growth role. This follows World’s recent leadership additions, including Ed Walters as President in October and Tyler Mahoney as Chief Financial Officer last month.
Walters said, “Jeff’s exceptional acumen for relationship building and bringing clarity to operational complexities will deepen the partnership that drives our long-term success. His ability to translate operational strength into advisor value will be instrumental as we continue to build a growth-focused organization.”
Mercer Adds Abby Salameh, Chris Walters As Managing Partners
Mercer Global Advisors appointed Abby Salameh and Chris Walters as Managing Partners overseeing geographical growth markets. The firm said the additions expand its managing partner cohort, which is collectively accountable for Mercer’s over 40 geographical markets.
Salameh will lead Mercer’s New Jersey and Greater Philadelphia markets, while Walters will lead the San Diego market. Mercer described the roles as part of its effort to combine local delivery with enterprise capabilities across its national footprint.
Salameh said, “This is an incredible opportunity to build and lead at a preeminent fiduciary firm in a community that I care so much about. The company’s advisory teams in New Jersey and Philadelphia are already helping many thousands of families achieve economic freedom, and I am excited to support them in growing our impact.”
AE Wealth Names Shannon Larson President
AE Wealth Management appointed Shannon Larson as President. She most recently worked at Osaic, where she held various executive leadership. Prior to Osaic, she worked at Eaton Vance, Cetera Financial Group, LPL Financial and Fisher Investments.
She succeeds Chris Radford, who stepped away from the role in summer 2025. The firm said it added more than $21 billion in AUM over the past two years and set a goal of reaching $250 billion in AUM by 2035.
Larson said, “The core of my leadership philosophy is empowering independent advisors to better serve their clients and achieve meaningful outcomes. I’m excited to join the AE Wealth Management team and advisor community to support our mission of guiding families toward a successful retirement while helping advisors build lasting legacies.”
Wealth Solutions Report can be reached at info@wealthsolutionsreport.com.
