In this week’s roundup, Caprock will buy Venturi Private Wealth, Wealth Enhancement completed acquisitions involving WealthShield, Madison Oaks, Trippon Wealth and J.M. Trippon, CRC-Oyster acquired Modern Regulatory Services, OneDigital added Rosenthal Wealth, Raymond James added a Florida advisor team and b1BANK’s wealth program, Baird recruited John McAuley and Mary Weeks Fountain, LPL added HighWater Wealth and Alan Feutz, Ameriprise recruited Johnson Stivender Wealth Advisors, Vanilla launched a service offering; Choreo named its Chief Wealth Officer, Cresset appointed its Chief Technology Officer and DeVoe reported record first-half RIA M&A activity.
Mergers & Acquisitions
Caprock Acquires $4 Billion Venturi Private Wealth
Boise, Idaho-based RIA Caprock announced it will acquire Austin, Texas-based RIA Venturi Private Wealth, which oversees $4 billion in assets under management (AUM). The transaction expands Caprock’s Texas presence and adds Venturi’s Oklahoma City office. Venturi will operate under the Caprock brand and use its platform after closing. Venturi Co-Founder and CEO Russ Norwood and Joey Sager, who leads the Oklahoma City office, will become Managing Directors at Caprock.
Founded in 2015, Venturi serves entrepreneurs, executives and families through investment management, financial planning, family office services, wealth education and governance services. Caprock advises on approximately $17 billion in client assets and operates offices in 11 cities. Berkshire Global Advisors served as Venturi’s exclusive financial advisor. DLA Piper served as Venturi’s legal counsel, while Stoel Rives served as legal counsel to Caprock.
Norwood said, “As we considered the next chapter for our firm, it was important to find a partner that would strengthen what we do for our clients. Caprock brings broader investment capabilities, deeper family office resources and the scale to support clients as their needs continue to evolve.”
Wealth Enhancement Acquires Practices Totaling Over $1.29 Billion
Wealth Enhancement completed two acquisitions representing more than $1.29 billion in combined client assets. It acquired the investment advisory business of Raleigh, North Carolina-area WealthShield Partners and affiliated Madison Oaks Wealth Partners, which together managed more than $993 million as of June 18. It also acquired Houston-based Trippon Wealth Management Group and associated tax practice J.M. Trippon & Company PC CPAs. The Trippon team managed more than $299 million in client assets as of July 7.
WealthShield and Madison Oaks joined as Wealth Enhancement’s Emerald Team and Madison Oaks Team after their June 30 closing. The Trippon transaction closed July 15 and added four advisors, eight tax professionals and eight support staff. Williams Private Wealth Advisory and Consulting advised on both transactions. Wealth Enhancement reported more than $158.5 billion in advisory, trust and brokerage assets after the Trippon closing.
Jeff Dekko, CEO of Wealth Enhancement, said, “Robert and Scott have built practices rooted in lasting client relationships, helping people navigate life’s biggest financial decisions along the way. That kind of trust takes years to earn, and it’s something we work hard to protect. We’re excited to welcome their teams to Wealth Enhancement so their clients can continue receiving the tailored guidance they value, with the added strength and resources of our broader firm.”
CRC-Oyster Acquires Modern Regulatory Services
CRC-Oyster acquired Modern Regulatory Services, a consulting firm specializing in broker-dealer compliance and financial operations support. The transaction adds FinOp principals and senior broker-dealer compliance professionals to CRC-Oyster, which advises broker-dealers, RIAs, fintech firms and other financial services organizations on compliance, risk, operations and technology. Modern Regulatory Services was founded in 2004 by Gregory Levine and is operated with business partner Steven Bender.
The deal is CRC-Oyster’s second acquisition. CRC received an investment from MidOcean Partners in December 2023 and acquired Oyster Consulting in June 2025. Levine also operates Gregory Levine Law, which focuses on forming financial services organizations and will add that capability to CRC-Oyster’s client offering.
Mitch Avnet, CEO and Managing Partner of CRC-Oyster, said, “The compliance needs of our broker-dealer clients continue to grow in complexity, and our ability to meet these needs depends on having the right people and the right depth of expertise. The addition of MRS brings exactly that and fills a genuine need we’ve seen building across our client base. We’re not just adding headcount; we’re adding capabilities that make us a stronger partner for every firm we serve.”
OneDigital Adds $1.8 Billion Rosenthal Wealth Management
OneDigital Investment Advisors added Rosenthal Wealth Management Group, a Manassas, Virginia-based wealth management and financial planning firm with about $1.8 billion in AUM as of July 2. Rosenthal has offices in Northern Virginia, Maryland and western Pennsylvania, serves more than 2,000 client households nationwide and employs 19 people, including eight financial advisors. The addition is the 23rd wealth management firm to join OneDigital’s platform in five years.
Larry Rosenthal founded the firm in 1995. It provides financial planning, investment management, retirement income strategies and estate planning guidance. Clients will continue working with their existing advisors while gaining access to OneDigital’s wealth, retirement and insurance offerings. OneDigital’s assets under advisement surpassed $155 billion as of March 31.
Larry Rosenthal, Founder and President of Rosenthal Wealth Management Group, said, “We spent nearly two years looking for an ally who could match our commitment to clients while giving our team room to grow. We found that in OneDigital. What stood out most was the culture — like us, they put clients first every day. This decision was made with our clients at the center, and we’re excited about what this next chapter means for them, their families, and our team.”
Advisor Transactions
Raymond James Adds Approximately $765 Million Across Two Recruiting Moves
Raymond James added two groups representing approximately $765 million in client assets to its independent channel and Financial Institutions Division. Advisors Richard Knight, Brent Detweiler and Phillip Margy joined Raymond James Financial Services from Truist Investment Services, where they managed about $430 million, and became part of Fortuna Wealth in Melbourne, Florida. Separately, b1BANK selected Raymond James to support b1 Wealth Solutions Group, a Louisiana- and Texas-based program managing approximately $335 million.
The Fortuna Wealth additions are supported by Client Services Managers Gaye Abramski and Michelle McDonald and serve business owners, families, individuals, pre-retirees and retirees. In January, b1BANK acquired Progressive Bank and integrated Progressive Financial Advisors. The combined bank wealth program now includes three advisors managing more than $600 million in client assets.
Knight said, “We chose Raymond James for its technology and investment resources, which strengthen how our team serves clients every day. Those capabilities align well with the personalized, client-first approach we bring to the families we serve at Fortuna Wealth.”
Baird Recruits Over $600 Million McAuley And Fountain Team
Baird recruited John McAuley and Mary Weeks Fountain to its Private Wealth Management office in Charlotte, North Carolina, from Sterling Capital Management, where they managed more than $600 million in assets. McAuley joined as Director and Financial Advisor with more than 25 years of industry experience. Fountain joined as Director and Financial Consultant with more than 40 years of experience.
At Sterling Capital, McAuley was Managing Director and Head of the Family Office and Foundations Practice, while Fountain was Managing Director and Senior Portfolio Manager. Baird Private Wealth Management reported more than $372 billion in client assets and more than 1,400 financial advisors as of March 31.
Drayton Henderson, Branch Manager at Baird, said, “We are thrilled to welcome John and Mary Weeks to Baird. Professionals of their caliber are highly respected throughout our industry and their commitment to putting clients first aligns perfectly with Baird’s culture and values. Their experience, integrity, and dedication to helping families achieve their financial goals make them an outstanding addition to our firm.”
LPL Adds Over $3 Billion Across Two Recruiting Moves
LPL Financial added two recruits representing approximately $3.13 billion in combined reported assets. San Diego-based HighWater Wealth joined LPL’s broker-dealer and RIA platform through Quotient Advisor Partners after serving about $2.4 billion in advisory assets at U.S. Bank as of Dec. 31. Alan Feutz joined Genesis Wealth through LPL’s broker-dealer and RIA platforms from J.P. Morgan, bringing approximately $725 million in advisory, brokerage and retirement plan assets (as of Dec. 31) to the Deerfield, Illinois-based practice.
HighWater Wealth’s team includes Kristian Forster, Mike Rookus, Falko Hörnicke, Tim Davidson and Brian Rissman and provides multigenerational office services to high net worth individuals and families. Feutz has more than two decades of industry experience and primarily serves people approaching or living in retirement. His practice covers retirement planning, tax-aware strategies, legacy planning and multigenerational wealth discussions. LPL reported supporting more than 32,000 advisors and approximately $2.3 trillion in brokerage and advisory assets.
Ray Lucia Jr., CEO of Quotient Advisor Partners, said, “For 25 years, I’ve been on almost every side of this industry, and what I’ve learned is that most advisors stay inside large institutions not because they’re satisfied, but because going independent feels too risky. Everything we do at Quotient exists to change that. We give teams like HighWater Wealth the transition expertise, infrastructure and community to make the move with confidence, and what other firms may not offer: true ownership of their business.”
Ameriprise Recruits Over $270 Million Johnson Stivender Wealth Advisors
Johnson Stivender Wealth Advisors joined the independent channel of Ameriprise Financial from Raymond James Financial Services, where they had more than $270 million in client assets. The Sebring, Florida-based practice is led by Private Wealth Advisors Dusty Johnson, Craig Johnson and Travis Stivender. Operations Manager Michele Bednosky and Client Relationship Specialist Kristin Johnson also made the move.
Johnson Stivender provides comprehensive advice to individuals and families and is supported locally by Ameriprise Franchise Field Vice President Sabrina Sabate and Regional Vice President Michael Barker. The practice spent more than 25 years with its prior firm before selecting Ameriprise.
Johnson said, “Joining Ameriprise marks an exciting new chapter for our practice, but our commitment to our clients remains unchanged. For more than two decades, we’ve built our business on personalized service, trusted advice and lasting relationships. Ameriprise gives us the technology, resources and long-term support to strengthen that commitment, continue growing our practice and deliver an even better experience for the individuals and families we serve.”
Strategic Initiatives
Vanilla Launches Estate Planning Support Service
Vanilla launched Vanilla Concierge, a professional services offering that gives advisory firms direct access to the company’s trust and estate professionals. Its first service category, Abstraction Services, expands Vanilla’s existing estate-document work with guided sessions that walk advisors through client plans and multi-session training for firms building profiles internally. Vanilla said additional service categories are planned.
Vanilla’s abstraction team has produced more than 10,000 client profiles representing more than $140 billion in client assets since 2019. The company employs more than 15 trust and estate professionals, including 10 non-practicing attorneys. Director of Abstraction Services Julia Santullano has more than two decades of trust and estate experience.
Santullano said, “Vanilla has spent years in the details of estate documents — the provisions, the structures, the edge cases that make this work hard to do well. Vanilla Concierge means every firm on the platform can bring that depth into their client conversations, in whatever way fits how they practice.”
Promotions & People Moves
Choreo Promotes Ray Morrill To Chief Wealth Officer
RIA Choreo promoted Ray Morrill to Chief Wealth Officer, placing him in charge of advisor development, client and advisor experience, planning capabilities, practice management and the continued scaling of the firm’s wealth management model. Morrill will continue serving clients and supporting advisors. He most recently served as Senior Director of Wealth Management, where he worked on financial planning and investment management strategies.
Morrill’s experience includes estate planning, pre-transition planning, wealth transfer strategies, investment management and executive compensation planning, including work with CPA partners. Before Choreo, he was a Director at RSM US Wealth Management and held advisory and business development roles at Argosy Wealth Management, Edward Jones and Union Bank. Choreo had approximately $28.6 billion in AUM and assets under advisement as of Dec. 31.
Morrill said, “This role is not simply about continuing what Choreo has already built. It is about taking the next step in how we support advisors and clients across the firm. We have an opportunity to create a more consistent experience, strengthen our planning and practice management capabilities and use technology more effectively to create capacity without losing what makes this firm special.”
Cresset Names Dheeraj Soni As Chief Technology Officer
Cresset named Dheeraj Soni as Chief Technology Officer, assigning him responsibility for the firm’s technology strategy and infrastructure, trading platform, cybersecurity strategy and execution capabilities. Soni most recently served as Managing Director and Head of Trading at Cresset. He has nearly 30 years of experience across wealth management, private banking, prime brokerage, asset management, institutional trading and investment banking.
Before joining Cresset, Soni served as Chief Technology Officer of J.P. Morgan Advisors, where he led trading modernization and platform integration initiatives. He previously spent more than a decade as Head of Wealth Management Technology at First Republic Bank.
Soni said, “I am honored to lead such an incredible team and further solidify Cresset’s reputation as an innovative technology leader in the wealth management space. A secure, scalable, and innovative technology platform is key to our success and allows us to provide our clients with the high level of service and bespoke solutions they’ve come to know from Cresset. I look forward to building on the foundation as we continue to grow.”
Research
DeVoe Reports Record First-Half RIA M&A Activity
RIA M&A activity reached a first-half record in 2026, with 167 announced transactions through June, according to DeVoe & Company’s Q2 RIA M&A Deal Book. That total exceeded the prior first-half record of 148 deals in 2025 by 13%. Second-quarter volume declined 20% from the first quarter’s record 93 transactions to 74, but still surpassed the prior second-quarter high of 73 transactions set last year.
DeVoe’s consolidator survey found that 82% of respondents expect valuations to remain stable during the next six months and 18% expect declines. None expected increases. The gap between seller expectations and buyer offers is widening, according to 73% of the participants. Although 82% reported acquisition pipelines larger than six months earlier, only 45% expected acquisition activity to increase, while 45% expected it to remain steady and 10% planned to reduce acquisitions.
David DeVoe, CEO of DeVoe & Company, shared, “Despite a slowdown in the second quarter, the underlying drivers of RIA M&A haven’t changed. Buyers still have capital to deploy, sellers still face the same growth and succession challenges, and we continue to expect transaction activity to remain historically strong.”
Wealth Solutions Report can be reached at info@wealthsolutionsreport.com.
