In this week’s roundup, Stratos acquired 11 practices; Corient will buy Capital Advisors; Lido Advisors partnered with Jackson Hole Capital Partners; MCF Advisors acquired Hoff Bujnoch & Associates; Concurrent added TAVO Wealth; Raymond James added Peter Braun and K.C. Hosey; City Square Wealth Management joined Integrated Partners; LPL added Fifteen:22 Financial Partners; Osaic recruited Du Lac Wealth Services; Orion hired Yi-Ching Wu; Carnegie promoted Ben Connard; and FINTRX released its inaugural Family Office Report.
Editor in Chief’s Take:
The line between recruiting and acquisitions continues to blur. These two paths involve different legal structures, but the motivations often look similar: Advisors are solving for scale, technology, investment resources, succession support and client service. For many, the question is what platform can support their firm’s next stage of growth, and the choice of M&A or recruiting is just the vehicle to arrive at the answer.
– Julius Buchanan, Editor in Chief, Wealth Solutions Report
Mergers & Acquisitions
Stratos Acquires 11 Advisory Practices
Stratos Wealth Holdings completed the acquisition of 11 advisory practices representing approximately $4.8 billion in total client assets as of Dec. 31. The acquired firms include Kowal Financial Services, Jamie Turk Holdings, Veritas Boston, True North Wealth Partners, Spain & Smith Wealth Advisors, Windsor Wealth Management, Pistone Wealth Advisors, Marquis Wealth Group, PTM Financial, Stratos Private Wealth Westchester and Stratos Private Wealth San Diego.
SEI owns a 57.5% majority stake in Stratos after completing the first stage of its strategic investment. It said the transactions were in progress before SEI’s investment.
Jeff Concepcion, Founder and CEO of Stratos, said, “We believe the traditional succession model is evolving, and advisors are increasingly looking for strategic partners that can provide scale, resources, and flexibility without sacrificing leadership of their businesses. SEI’s strategic investment has helped accelerate our ability to support advisors while preserving the entrepreneurial culture that defines Stratos.”
Corient To Acquire $7.8 Billion Capital Advisors
Corient announced an agreement to acquire Capital Advisors, a Tulsa, Oklahoma-based RIA with $7.8 billion in assets under management (AUM). The acquisition gives Corient its first office in Oklahoma. Capital Advisors was founded in 1978 and serves families and institutions.
Capital Advisors is employee-owned and led by Keith Goddard, CEO, and Andy Brown, President. The firm has 47 financial professionals. It has a presence in Oklahoma, Texas and six other states.
Goddard said, “Corient’s private partnership model was the key factor in our decision to join the firm, as it reflects the values that drive Capital Advisors – integrity, teamwork, and dedication to our clients. Corient allows us to enhance the client experience by gaining access to a broad network of expertise and a wide range of wealth management and family office services, including alternative investments, trust strategies, tax preparation and bill paying.”
Lido Partners With Jackson Hole Capital Partners
Lido Advisors announced a partnership with Jackson Hole Capital Partners (JHCP), a firm based in Tulsa, Oklahoma, with more than $1 billion in regulatory AUM. JHCP also has an office in New York City and a focus on alternative investments.
The firm is led by Channing Smith and John Hastings. Its six-person team will join Lido as partners. Lido, an RIA headquartered in Los Angeles, has more than $42 billion in regulatory AUM and more than 40 offices. McAfee & Taft is legal advisor to JHCP and Sidley Austin is serving as legal advisor to Lido.
Hastings said, “Joining Lido is a natural next step – one allowing us to continue providing the highly customized solutions our clients count on, while expanding our ability to comprehensively meet their most important life goals. Lido’s capabilities in tax and estate planning, combined with its overall family office approach, will resonate with our clients now and as we continue to grow our impact.”
MCF Acquires $250 Million Hoff Bujnoch & Associates
MCF Advisors acquired Hoff Bujnoch & Associates (HBA), a Newport, Kentucky-based wealth management firm overseeing approximately $250 million in AUM. MCF is a Kentucky-based RIA serving families, business owners and retirement plan sponsors. The acquisition adds to MCF’s financial planning and wealth management capabilities.
HBA is led by Digger Bujnoch, who joins MCF as Senior Financial Advisor and Partner with his full team. The transaction closed on April 29 and marks MCF’s third acquisition since partnering with Wealth Partners Capital Group and HGGC’s Aspire Holdings platform in March 2025. MCF oversaw $4.68 billion as of March 31.
Dave Harris, CEO and Managing Partner at MCF, said, “MCF is pleased to welcome Digger and the HBA team to the firm. Their strong commitment to clients, enduring client relationships and collaborative approach to financial planning align closely with MCF’s values. Bringing on their team deepens MCF’s presence in Northern Kentucky while supporting the firm’s disciplined and intentional growth strategy.”
Advisor Transactions
Integrated Adds $850 Million City Square Wealth Management
Integrated Partners added City Square Wealth Management, a Charlestown, Massachusetts-based team with approximately $850 million in client assets. Formerly with Ameriprise, City Square adds 15 people to Integrated’s advisor network, including six advisors and nine support professionals.
City Square serves multigenerational client families. Integrated has added several teams in recent months, including SIGIL Family Office in Scottsdale, Arizona, and Brick by Brick Wealth Advisors in Denver. Integrated is an RIA serving more than $25 billion in advisory and brokerage assets.
Kevin Connors, Private Wealth Advisor and Managing Partner of City Square, said, “Joining Integrated allows us to remain true to who we are while gaining access to the scale, technology and strategic support needed for our next chapter. As our clients’ needs become more complex, Integrated gives us the resources to enhance our planning capabilities, support our team and deliver an even more connected experience for the families we serve.”
Concurrent Adds $1.2 Billion TAVO Wealth
Concurrent Investment Advisors added a Houston-based advisor team that managed $1.2 billion in client assets with Raymond James & Associates and launched as TAVO Wealth. The addition increased Concurrent’s platform AUM to more than $20 billion. Concurrent said it provided transition guidance and support to TAVO Wealth as it launched its independent practice.
TAVO has a custodial relationship with Fidelity Institutional Wealth Management Services. David Ahlquist, Nick Troiano, John O’Shea and Steve VanNostrand are members of the advisor team, which was previously known as Ahlquist Private Wealth Management of Raymond James. Since the start of the year, Concurrent has added more than $3 billion in AUM through partnerships with 24 independent advisors.
Ahlquist said, “The single most important factor for us has always been alignment of values. I believe that when firms prioritize a healthy, genuine internal culture, clients reap the benefits. We found that alignment with Concurrent. Combined with the resources and partnership structure they provide, this positions us to deliver an even stronger experience for our clients.”
Raymond James Adds $515 Million First National Bank Of Omaha Team
Raymond James Financial Institutions Division (FID) added Financial Advisors Peter Braun and K.C. Hosey to First Investments & Planning at FNBO, First National Bank of Omaha. The Kansas City, Missouri-based advisors manage approximately $515 million in client assets and previously were affiliated with UMB Financial Services. They will provide investment and wealth management services through Raymond James Financial Services, its independent advisor channel.
The addition continues the expansion of First Investments & Planning, which has added nine advisors representing more than $1 billion in client assets since January. Raymond James Financial Institutions Division was established in 1987.
Grace Austin, Senior Vice President and North Division Director of FID, said, “The continued expansion of First Investments & Planning reflects a disciplined approach to building a high-quality wealth platform. Peter and K.C. bring strong experience and a clear focus on client outcomes, and we’re proud to support their transition as the program continues to scale.”
LPL Adds Fifteen:22 Financial Partners
LPL Financial added Fifteen:22 Financial Partners to its broker-dealer and RIA platforms. The Kansas-based team reported serving approximately $380 million in advisory, brokerage and retirement plan assets and joined LPL from Nations Financial Group. Fifteen:22 is led by Managing Partners Douglas Bennett, Nicholas Bennett, Van Schaffer, Malcolm Ong, Brent Hoffman and Douglas Stephens.
Fifteen:22 was founded more than 35 years ago and serves retirees, working professionals, younger investors and families across the country. LPL said the team selected the firm for technology, client-facing tools and operational support.
Bennett said, “LPL’s commitment to innovation and its continued investment in technology stood out to us. The platform provides sophisticated resources for both advisors and clients, which is increasingly important as expectations evolve across generations. Joining LPL positions our firm to better serve our clients today while preparing us for the future.”
Osaic Adds $200 Million Du Lac Wealth
Osaic added Du Lac Wealth Services, a Cary, North Carolina-based advisory team from LPL with approximately $200 million in client assets. Du Lac Wealth is led by Managing Director James Mertens, along with Wealth Advisors Garrett Railsback and Kerry Goodman, and Client Experience Manager Jaunt’e Smith.
Du Lac Wealth uses an acquisition strategy focused on tax-aware portfolio transitions and continuity for clients of retiring advisors. Osaic said the team prioritizes preserving client relationships and minimizing disruption during ownership transitions.
Mertens said, “Osaic is a great match for our service first culture and how we grow our practice. Osaic provides key resources to level the M&A playing field while upgrading our day to day client experience.”
Promotions & People Moves
Orion Hires Yi-Ching Wu For Wealth Management Strategy
Orion hired Yi-Ching Wu as Executive Vice President of Wealth Management Product and Platform. In the role, Wu will lead initiatives supporting Orion Wealth Management’s growth and advisor adoption. Orion said she will focus on advancing and unifying the firm’s investment product offerings and platform capabilities.
Wu has more than 20 years of experience leading investment product and platform strategy across wealth and asset management organizations. Before joining Orion, she served in a senior leadership role at AssetMark, where she oversaw proprietary and third-party investment platforms. Earlier, she held product development and management roles at Schwab and helped launch Schwab’s entry into ETFs.
Wu said, “Advisors need wealth management platforms and investment solutions that are intuitive, flexible, and built around how they serve clients. Orion’s connected wealthtech platform creates a strong foundation for innovation across products, technology, and data. I’m excited to help advance wealth and investment solutions that empower advisors to scale personalization, improve efficiency, and deliver better outcomes for the households they serve.”
Carnegie Promotes Ben Connard To CIO
Carnegie Investment Counsel promoted Ben Connard to Chief Investment Officer. Connard will lead the RIA’s investment strategies and oversee portfolio construction across equity and fixed income asset classes. Cleveland-based Carnegie has $7 billion in AUM and 11 offices.
Connard joined Carnegie in connection with its expansion into Stamford, Connecticut, in February 2025. He has served on the firm’s Investment Committee and will continue working directly with clients. Before joining Carnegie, Connard spent nine years as Partner and Portfolio Manager at Eagle Ridge Investment Management and 11 years as an Analyst at Laidlaw Group.
Connard said, “Carnegie has always been grounded in a disciplined, long-term approach to investing. Our focus is on understanding the underlying businesses we invest in and building portfolios that can perform through a full market cycle. As Chief Investment Officer, my goal is to ensure that every portfolio manager and advisor across the firm is positioned to deliver consistent, long-term outcomes for our clients.”
Research
FINTRX Reports Family Office Investment Trends
FINTRX released its inaugural quarterly Family Office Report, covering trends and intelligence for the first quarter of 2026. The report found that family offices continue to be led by first-generation entrepreneurs, with a preference for direct investments, private equity and venture capital compared with hedge funds and fund-of-funds.
The report found that newly added family offices favored actively managed alternatives, including direct investments, private equity, real estate and venture capital, with select exposure to long-only listed equities and fixed income strategies. FINTRX said the new family offices showed comparatively lower interest in hedge funds and fund-of-funds structures.
Patrick Galvin, Research Associate for FINTRX, said, “First-generation entrepreneurial families are not just creating more family offices — they are investing in ways that look more like an extension of their business-building experience. That often means a preference for direct deals, private equity and venture capital, and a more selective approach to commingled fund structures.”
Wealth Solutions Report can be reached at info@wealthsolutionsreport.com.
