In this week’s roundup, MAI acquired Waypoint Wealth and OG Private Wealth; Wealth Enhancement acquired Weinand Financial and Servo; Stratos acquired RPI Financial; NewEdge added a Houston team; Carson added Yari Capital; Ameriprise recruited two advisors; Cetera recruited Harbor Financial; LPL added Guidepost and McCutchen Wesson; Osaic added O’Reilly and IronGate; FP Transitions appointed Tom Kimberly COO and launched a valuation index; Kestra named Kelly Apple Head of Wealth Management; and FINTRX published family office research.
Mergers & Acquisitions
MAI Adds $1.04 Billion With Two RIA Acquisitions
RIA MAI Capital Management acquired Waypoint Wealth Counsel and OG Private Wealth in transactions adding approximately $1.04 billion in combined assets under management (AUM). Atlanta-based Waypoint manages about $490 million and joined MAI on Aug. 14, giving the Cleveland-based firm its first Atlanta office. OG Private Wealth, with offices in Chico and Hermosa Beach, California, manages approximately $551 million.
Waypoint was founded in 2014 by Brad McGrew and Matthew Woods, who will continue leading MAI’s Atlanta team as Market Leaders. Brothers Ryan and Mike O’Donnell founded OG after working at firms including Merrill Lynch and will serve as Market Leaders in California. Colchester Partners served as financial advisor and Arnall Golden Gregory served as legal advisor to Waypoint.
Rick Buoncore, CEO and Chairman of MAI Capital Management, said, “That client-first culture aligns naturally with MAI. This acquisition gives us the opportunity to enter a market we have long viewed as strategically important, but finding the right people mattered more than simply expanding our footprint. With Waypoint, we found both an outstanding team and an opportunity-filled market.”
Wealth Enhancement Buys Two RIAs With $854 Million In Total Assets
Wealth Enhancement acquired the investment advisory businesses of Weinand Financial, an Olympia, Washington-based independent RIA with approximately $644 million in client assets as of Aug. 11, and Servo Wealth Management, an Oklahoma City independent RIA with about $210 million as of Aug. 5. The transactions, which both closed Aug. 15, add approximately $854 million to Wealth Enhancement.
Weinand Financial, founded in 1991 and led by Mike Weinand, focuses on retirement and investment planning, pension reviews, retirement plans and insurance guidance. Servo was founded in 2012 by Eric Nelson and serves individuals and families, including physicians, attorneys, executives, business owners and retirees.
Mike Weinand said, “We’ve spent more than three decades building Weinand Financial around the needs of our clients, and we were very intentional about what the next chapter should look like. Wealth Enhancement gives us the ability to bring more resources to the table without losing the personal relationships that have defined our firm. It’s an opportunity to strengthen what we offer clients today while building for the future.”
Stratos Acquires $400 Million RPI Financial Life Planners
Stratos Wealth Enterprises acquired RPI Financial Life Planners in a transaction expected to add approximately $400 million in assets and expand Stratos’ Midwest presence. Naperville, Illinois-based RPI will retain its name, team and client relationships. The deal is Stratos’ 12th partnership since SEI made a strategic investment in Stratos in 2025.
RPI serves individuals, families, retirees and business owners, providing retirement, tax and estate planning, investment management and life-transition planning. David Blaydes, Founder and Financial Life Planner, leads the practice. Stratos Wealth Enterprises is the acquisition and wealth management arm of Stratos Wealth Holdings.
Blaydes said, “After an extensive, multi-year search, we chose to affiliate with Stratos because they share our commitment to putting clients first, acting with integrity, and building long-lasting client relationships. This partnership is ultimately about our clients and our people. As we considered the future of our practice, Stratos stood out because we believed they understood our objectives and culture, while offering resources that aligned with our long-term goals.”
Advisor Transactions
NewEdge Wealth Adds Houston Team From AllianceBernstein
RIA NewEdge Wealth opened its 20th location in Houston with a six-person team led by Jeffrey Thompson, Shannon Willems and Sara DeJay Willis, who joined from AllianceBernstein. Thompson and Willems joined as Managing Directors, while Willis became a Vice President. The team also includes three Client Service Associates and has more than 30 years of collective experience advising high net worth and ultra-high net worth clients, particularly business owners.
The Houston group advises business owners on exit strategies, multigenerational estate and financial plans, and 401(k) and pension plan optimization. NewEdge said the office extends a footprint that includes New York, Chicago, Miami and San Francisco, following recent growth in Nashville, Atlanta and New Albany, Ohio. NewEdge Wealth has more than 65 ultra-high net worth advisors across 20 locations.
Rob Sechan, Founder and Managing Partner of NewEdge Capital Group, said, “Houston is one of the fastest-growing economies in the country and continues to be home to an increasing number of high net worth and ultra high net worth individuals with complex wealth management needs. This team understands the nuances of this community through their deep ties to the metro area. We are excited to have Jeff, Shannon and Sara as part of NewEdge Wealth.”
Carson Adds $405 Million Yari Capital From Northwestern Mutual
Yari Capital, an Atlanta practice led by Founder and Senior Wealth Advisor Kurt Mattson, joined RIA Carson Group’s independent advisor channel from Northwestern Mutual. The team serves approximately $405 million in AUM and includes Olivia Payne, Director of Financial Planning, and three support professionals. Yari advises executives, physicians, attorneys, business owners and others through financial planning, investment management, tax, retirement and estate planning services.
Mattson launched his practice in 1995 and said the affiliation would preserve its independence while adding technology, planning expertise and advisor support. Carson Group manages more than $62 billion in assets and serves over 60,000 client families through more than 165 partner offices, including over 50 Carson Wealth locations.
Gregg Johnson, National Sales Director at Carson Group, said, “Kurt Mattson has spent more than three decades building a business around trust, planning and doing what’s right for clients. That’s exactly the kind of advisor who thrives at Carson. We’ve built a community where entrepreneurial advisors can remain independent while tapping into the technology, expertise and support they need to grow. We’re excited to welcome Kurt, Olivia and the entire Yari Capital team to Carson.”
Ameriprise Recruits $160 Million Team From Wells Fargo
Financial advisors Lee Winters III and Chris McClure joined Ameriprise Financial’s branch channel from Wells Fargo Clearing Services in Columbia, South Carolina, bringing $160 million in client assets. Client Service Associate Darragh James also joined the practice. Ameriprise said a mentor’s earlier move prompted the team to consider a transition, after which the advisors evaluated the firm’s technology, advisory program, client resources and operating culture.
The team is supported locally by Ameriprise Branch Manager Tor Bennstrom and Regional Vice President Michael Rearden. Ameriprise said approximately 1,700 experienced advisors have joined during the past five years.
McClure said, “As we evaluated the technology platform, culture and resources available at Ameriprise, it became clear the firm offered an opportunity to take our client experience to the next level. Ameriprise has built an exceptional culture centered on serving clients. We saw better technology, greater efficiencies and more time to focus on helping clients align their portfolios with their goals.”
Cetera Onboard $175 Million Harbor Financial From Commonwealth
Cetera recruited Kim Hellerman-Hersman and Bryan T. Fox of Harbor Financial Advisors, a family-run practice overseeing approximately $175 million in assets under administration as of Feb. 3. The team joined from Commonwealth Financial Network. Hellerman-Hersman has more than 30 years of industry experience, while Fox joined Harbor in 2018. They are accompanied by the practice’s support staff.
Hellerman-Hersman spent 24 years at Concourse Financial Group Securities before joining Commonwealth in 2023. Cetera acquired Concourse in 2025, while LPL acquired Commonwealth.
Hellerman-Hersman said, “We spent a year evaluating our options and finding the right size broker-dealer that would help ensure our clients, and the service they receive, remained priority was paramount. Cetera was the best fit and their shared client-service philosophy made all the difference.”
LPL Recruits $350 Million Across With Two Edward Jones Teams
LPL Financial added two practices from Edward Jones to its broker-dealer and RIA platform, representing approximately $350 million in combined advisory, brokerage and retirement plan assets. Chris Stockton launched Guidepost Wealth Management in Stillwater, Oklahoma, with about $160 million as of Dec. 31, while Paul McCutchen and Jarod Wesson joined as McCutchen Wesson Wealth Advisors in Marion, Arkansas, near Memphis, with approximately $190 million as of Dec. 31.
Stockton, who has seven years of industry experience, serves business owners, families, retirees and clients navigating major life transitions and is joined by Administrative Assistant Ashley Mayfield. McCutchen and Wesson serve business owners, professionals, retirees, multigenerational families, farmers and agriculture-related businesses. LPL supports more than 32,000 advisors and approximately 1,100 financial institutions, with about $2.6 trillion in brokerage and advisory assets.
Stockton said, “Joining LPL allows me to pair the independence my clients expect with the resources and technology needed to serve them at an even higher level. From sophisticated financial planning capabilities to estate planning resources and innovative client solutions, LPL provides the support and flexibility to help me continue growing my practice while staying focused on what matters most — serving my clients.”
Osaic Adds $617 Million With Two Advisor Firms
Osaic added two advisor firms with approximately $617 million in combined client assets. O’Reilly LLC, a Chesterfield, Missouri-based practice overseeing about $250 million, joined Millenia Investments and affiliated with Osaic after leaving LPL Financial. IronGate Services, a Cedar Rapids, Iowa-based team overseeing approximately $367 million, joined from Ameriprise Financial Services through Carlson Advisor Networks, an Osaic office of supervisory jurisdiction.
Patrick O’Reilly leads the practice founded by his father, Michael, and joined Millenia as a Financial Advisor. Carrie Wyatt became a Service Advisor Support Specialist. IronGate is led by Chad Sarsfield and includes Coy Sarsfield, Brennan Dorighi and Jeff Netolicky, serving primarily business owners.
Chad Sarsfield said, “We were looking for the right combination of independence, flexibility and support to help us build the next chapter of our business. Osaic gives us access to the technology, investment capabilities and resources we need to operate more efficiently while continuing to provide the first-class experience our clients expect. We’re excited about the opportunities ahead for our team and the families and business owners we serve.”
Promotions & People Moves
FP Transitions Appoints Tom Kimberly As COO, Launches Value Index
FP Transitions appointed Tom Kimberly as COO, a newly created position, and also launched its Estimated Value Index for advisory firm owners. Kimberly joined the company in July and will focus on integrating its business intelligence, consulting, product development and go-to-market functions. He previously served as Executive Vice President, Chief Product Officer and Chief Technology Officer at Edelman Financial Engines and has held roles at McKinsey, Betterment, Fidelity Labs, Barclays and Upside.
The index is available at no cost to advisors with an FPInsights account and uses advisor-supplied financial data and FP Transitions’ valuation methodology to generate a score from 1 to 100 and an estimated revenue-multiple range. The company said the score compares a firm’s financial performance with businesses in its database and can inform decisions involving growth, profitability, structure, succession and enterprise value.
Tom Kimberly, COO of FP Transitions, said, “FP Transitions has something exceptionally difficult to replicate: decades of direct experience working with advisory businesses through virtually every stage of their lifecycle. The opportunity is to take that institutional knowledge, combine it with data and technology, and make it increasingly useful to advisors in the decisions they are making every day.”
Kestra Names Former BlackRock Exec Kelly Apple As Head Of Wealth Management
Kestra Financial appointed Kelly Apple Head of Wealth Management, placing her over teams supporting investment management, high net worth and advanced planning, advisory solutions, retirement, insurance, alternative investments and due diligence. Her remit includes Kestra Financial and its breakaway-advisor channel, Kestra Private Wealth Services. The appointment follows John Amore’s promotion to President.
Apple joined from BlackRock, where she spent more than 13 years and most recently served as Managing Director and Head of National Accounts, leading the team responsible for the asset manager’s largest distribution partnerships. She has more than 20 years of experience in asset management and intermediary distribution, including senior roles at DWS Investments and Van Kampen Investments, now part of Invesco.
Amore said, “We were committed to finding the right leader to help shape our wealth management strategy, strengthen the capabilities available to advisors, and position us for long-term growth. Kelly’s experience building partnerships and high-performing teams, paired with a deep understanding of what today’s advisors need to grow, will help our community of complete wealth managers thrive.”
Research
FINTRX: New Family Offices Favor Direct Investments, Private Equity
FINTRX’s second-quarter Family Office Report found that, among the 96 family offices newly added to its database, 92.7% had direct investments included among the asset-class interests in their profiles and 89.6% had private equity included. Hedge funds were included among the profile interests of 10.4%, compared with 38.2% of the full database, while private credit was included for 6.3%, down from 19.3% of the family offices added in the first quarter.
Single-family offices represented 68 of the 96 additions, or 70.8%, up from 63% in the first quarter. North America accounted for 43 additions, followed by Europe with 26, Asia/Oceania with 19 and Africa/Middle East with eight. FINTRX said 68.6% of newly classified family offices were linked to first-generation entrepreneurial wealth, up from 57% in the prior quarter. Its database tracked more than 4,600 family offices and nearly 30,000 contacts as of June 30.
Patrick Galvin, Research Associate at FINTRX and author of the report, said, “What stood out this quarter was the striking disinterest in hedge funds and private credit compared with the total FINTRX database. Newer, younger family offices continue to gravitate heavily toward direct and equity-oriented strategies rather than externally managed fund structures. Almost 93% of the firms we added list direct investments, and hedge funds and private credit barely show up at all.”
Wealth Solutions Report can be reached at info@wealthsolutionsreport.com.
