In this week’s roundup, Vista led CAIS’ Series D; Corient agreed to acquire Seven Bridges; Merit acquired Towson Wealth Management; WealthReach acquired AdvisorRankings; Bixby made a minority investment in F.L.Putnam; Wealth Enhancement agreed to acquire Cloud Investments’ advisory business; Raymond James recruited two teams; UBS hired four advisors; Carson added Doyle and Loughman Wealth Management; LPL introduced its Latitude technology framework; ECHELON reported on RIA M&A; and Snappy Kraken released its State of Digital & AI 2026 report.
Mergers & Acquisitions
CAIS Raises $170 Million At More Than $2 Billion Valuation
New York City-based alternative investments platform CAIS raised $170 million in a Series D financing round led by Vista Equity Partners, valuing the company at more than $2 billion and bringing its total capital raised to nearly $600 million. AllianceBernstein, funds managed by Blue Owl Capital, Carlyle, Fortress Investment Group, Golub Capital, Lord Abbett and Royal Bank of Canada also participated in the round.
CAIS said it will use the capital for growth, platform expansion, technology and AI capabilities, and strategic opportunities. Vista Equity Partners President David Breach joined the CAIS Board of Directors. FT Partners served as CAIS’ exclusive financial advisor, and Sidley Austin served as its legal counsel. CAIS serves more than 2,500 wealth management firms and over 65,000 advisors.
Matt Brown, CEO and Founder of CAIS, said, “When strategic investors of this caliber back CAIS, it reflects their conviction in both the market opportunity and category leadership. Together with the independent wealth community, we have built the platform technology and client service model this industry deserves, and our biggest chapter is still ahead.”
Corient To Acquire $4.9 Billion Seven Bridges Advisors
Corient agreed to acquire Seven Bridges Advisors, a New York City-based RIA with $4.9 billion in assets under management (AUM). Founded in 2011 by CEO and Partner Larry Cohen, Seven Bridges operates as a multi-family office and wealth manager serving entrepreneurs and founders, financial services executives and ultra-high net worth families.
Seven Bridges’ principals will become Corient Partners after the transaction closes. Corient has more than 300 partners and over 2,700 employees managing approximately $535 billion for high and ultra-high net worth individuals, families and businesses. Houlihan Lokey is serving as Seven Bridges’ exclusive financial advisor, and Neal, Gerber & Eisenberg is serving as its legal advisor.
Kurt MacAlpine, Founding Partner and CEO of Corient, said, “Larry and his team have built a sophisticated practice serving wealthy clients with complex needs. Their client-centered, team-based approach will fit in well at Corient. The team’s longstanding focus on entrepreneurs, founders and technology executives complements and expands Corient’s existing dedicated practice area serving these clients. We are excited to welcome the Seven Bridges team to our partnership.”
Merit Acquires $502.5 Million Towson Wealth Management
Merit Financial Advisors acquired Towson Wealth Management, a Towson, Maryland-based firm led by CEO Kurt Wiegert that oversaw approximately $502.5 million in assets, including $297.5 million in AUM and $205 million in assets under administration as of March 31. Towson serves about 350 client households through personal wealth management and financial planning.
The transaction closed July 17, and Towson rebranded as Merit Financial Advisors. Wiegert and the full Towson team joined Merit, with Wiegert becoming Wealth Manager and Partner. Merit supports both RIA and independent broker-dealer models and managed about $26 billion in assets as of March 31, including $18.63 billion in advisory assets, with more than 55 offices.
Tyler Vernon, Managing Partner of Merit Financial Advisors, said, “The strength of this partnership goes well beyond the size of the business. Kurt has been very intentional about developing his next generation of talent and creating meaningful career opportunities for them. That long-term mindset, combined with the team’s client-first approach to financial planning and genuine desire to grow, made Towson an exceptional cultural fit for Merit.”
WealthReach Acquires AdvisorRankings
WealthReach acquired AdvisorRankings, a search engine optimization and AI search optimization agency serving financial advisors. WealthReach, which provides an AI-based organic growth platform for RIAs and wealth management firms, said the deal brings advisor-focused search and website expertise in-house. AdvisorRankings will continue operating as a separate brand under WealthReach.
Founded in 2010 and led by Founder Brent Carnduff, AdvisorRankings helps advisory firms improve visibility on Google, Claude, ChatGPT and Perplexity. Carnduff will lead business development and contribute to WealthReach’s SEO and AI search product roadmap. WealthReach plans to combine AdvisorRankings’ search optimization services with its Living Sites website product and its Attract, Convert and Multiply engines, covering search visibility, prospect conversion and referrals.
Michael Barrasso, Co-Founder and CEO of WealthReach, said, “We’ve always believed advisors should have the flexibility to choose how they grow. Some want powerful technology they can manage themselves, while others want an expert to handle it for them. Bringing AdvisorRankings into WealthReach allows us to deliver both under one roof and gives advisors a stronger path to sustainable organic growth.”
Bixby Makes Minority Investment In $11 Billion F.L.Putnam
Bixby Wealth Solutions, an arm of Moontower Group, made a minority investment in F.L.Putnam Investment Management Company. F.L.Putnam, an independent RIA, will continue operating independently under CEO Tom Manning, and its employees will retain a significant minority equity stake after the transaction.
F.L.Putnam said the capital will support investment in personnel, technology and capabilities, along with expansion into new markets and advisor recruitment. Bixby, which is backed by Carlyle’s Global Credit business, makes minority investments in independent wealth management and professional-services firms. Ardea Partners served as F.L.Putnam’s exclusive financial advisor. F.L.Putnam managed over $11 billion in client assets as of July 1.
Manning said, “This strategic investment positions FLP for our next phase of growth. Partnering with Bixby provides us additional flexibility to invest in our people, technology, and capabilities while pursuing selective opportunities to expand into new markets and welcome like-minded advisors to the firm. Most importantly, it enables us to continue delivering the thoughtful, personalized advice our clients have trusted for more than 40 years.”
Wealth Enhancement To Acquire $462 Million Cloud Investments
Wealth Enhancement agreed to acquire the investment advisory business of Cloud Investments, an independent RIA with more than $462 million in client assets as of July 21. Led by President and Wealth Advisor Don Cloud, the Alabama firm has five advisors and six support professionals across offices in Huntsville, Florence and Gadsden.
Founded in 2006, Cloud Investments provides retirement planning, investment management, tax strategy, estate planning and risk management to individuals, families and business owners. Wealth Enhancement said the acquisition and other announced transactions will bring its total client assets above $158.9 billion.
Jim Cahn, Chief Strategy Officer of Wealth Enhancement, said, “This partnership marks Wealth Enhancement’s first location in Alabama. As we officially enter this new market, we’re excited to build on the foundation Don and his team have built while bringing our national scale and planning capabilities to even more families across the region.”
Advisor Transactions
Raymond James Recruits Teams Managing More Than $1.5 Billion
Raymond James recruited two practices that managed more than $1.5 billion in combined client assets at their prior firms. KWM Wealth Advisory, led by Kenneth Sanchez, Lee Wolfe, Mitchell Kauffman and KaNoi Lam, joined Raymond James Financial Services, the firm’s independent channel, from Stifel with more than $1 billion. Evan Bloomberg joined Raymond James & Associates, the firm’s employee channel, from UBS, where he managed more than $500 million.
Pasadena, California-based KWM, which also has a Honolulu presence, is supported by nine financial services professionals and serves families, business owners, executives and retirees. Bloomberg leads Essential Private Wealth of Raymond James in Tinton Falls, New Jersey, with Investment Portfolio Associate Kristopher Hargraves and Senior Registered Client Service Associate Kristina Davila. Raymond James reported approximately $1.92 trillion in client assets as of June 30.
Evan Bloomberg, Managing Director of Essential Private Wealth of Raymond James, said, “Our focus has always been helping clients make confident decisions with clarity and purpose. Raymond James strengthens our ability to deliver on that mission through its culture, private wealth capabilities and advisor independence. The firm’s client-first approach allows us to provide thoughtful, highly tailored guidance aligned with each client’s goals.”
UBS Hires $1.3 Billion Tampa Advisor Team
UBS hired Private Wealth Advisors Jesse Flatt, Lea Ann Drew, Brandon Burns and Carlos Rodriguez in Tampa, Florida. The four-person advisor team, which is joining from Bank of America Private Bank after completing its notice period, oversee approximately $1.3 billion in client assets. The team serves ultra-high net worth families and business owners and will join UBS’ Greater Florida/Gulf Coast Market, reporting to Tampa Bay Senior Market Director Jack Heiss.
The advisors have more than 100 years of combined experience. Flatt previously served as a Senior Portfolio Manager and held investment roles at RBC Rochdale, Invesco, BlackRock, Morgan Stanley and Merrill Lynch. Drew has four decades of trust and private wealth experience. Burns was a Market Investment Executive and Senior Portfolio Manager, while Rodriguez advised on wealth strategy after practicing estate, tax and trust law.
Julie Fox, Regional Director, Southeast, at UBS, said, “These advisors are among the best in the business and will bring more than 100 years of combined experience serving ultra-high net worth individuals. They have spent decades building deep relationships throughout the Tampa community, and their addition will further strengthen the exceptional capabilities we offer clients. We are pleased to soon welcome them to UBS.”
Carson Adds $1.76 Billion Doyle And Loughman
Carson Group added Doyle and Loughman Wealth Management, a New Hampshire-based practice with approximately $1.76 billion in advisory and brokerage assets. The team joined from Wells Fargo Advisors Financial Network and gives Carson Wealth a second location in Hanover, New Hampshire. Carson Group reports more than $60 billion in AUM across its affiliated businesses.
Managing Partners and Wealth Advisors Brian Doyle and Stephen Loughman founded the practice. The team also includes Wealth Advisors Bradley Michalchuk and Kristen Laundry and seven operations support professionals. Carson will provide investment management, advanced planning, tax and estate planning resources, marketing assistance and operational infrastructure.
Doyle said, “This new partnership gives us the ability to remain the firm our clients know and trust while significantly expanding the resources available to them. Carson brings the scale, planning capabilities and long-term vision we were looking for in a partner. Just as importantly, they understand the importance of preserving our culture and putting clients first in every decision.”
Strategic Initiatives
LPL Introduces Latitude Technology Framework
LPL Financial introduced Latitude, a technology framework connecting the firm’s data, cybersecurity, infrastructure, AI, advisor workflows and investor applications. LPL said it invested nearly $2 billion over three years to build Latitude’s core components and expects to introduce more than 35 technology enhancements through the system in 2026.
Latitude’s five areas are connected data architecture; secure, resilient infrastructure; AI embedded in workflows; the ClientWorks advisor operating system; and end-investor applications. Its Cyan AI agent is being developed to provide workflow guidance, automate account maintenance, recommend practice-growth actions and generate planning insights. LPL also plans a mobile operating-platform app, single client relationship agreements and Account View additions covering document sharing, income and distribution tracking, e-signatures and financial planning connectivity.
Rich Steinmeier, CEO of LPL Financial, said, “LPL Latitude is more than a technology system — it’s a strategic investment in the future of advice. By creating a unified foundation across our business, we are accelerating innovation, unlocking the power of AI and data, and delivering more seamless, intelligent experiences for advisors and their clients. As the industry evolves, this integrated technology helps ensure our advisors remain at the forefront of delivering exceptional advice.”
Research
ECHELON Reports Record Second Quarter For RIA M&A
ECHELON Partners’ second-quarter RIA M&A report counted 120 announced wealth management transactions, excluding wealthtech deals, the most recorded in a second quarter. Volume declined from the first-quarter record of 142 deals but increased 17.6% from 102 transactions a year earlier. The 262 deals announced during the first half also set a record, compared with 220 in the first half of 2025, while second-quarter transacted AUM reached $378 billion.
Private equity-backed buyers accounted for 91 deals, or 75.8% of quarterly volume. Twenty-four firms announced at least two transactions and generated 62.5% of deal volume, led by Stratos Wealth Network with 11. Median target AUM increased 16.6% year over year to $733 million, while wealthtech volume rose 33% to 40 transactions. ECHELON projects about 500 wealth management deals in 2026, which would exceed the 2025 record of 466.
Dan Seivert, CEO and Managing Partner at ECHELON Partners, said, “Volume easing off a record quarter isn’t the headline. The headline is that the market still delivered its strongest second quarter and first half on record, and that activity is concentrating among a smaller group of repeat, well-capitalized buyers. That’s where the industry is heading.”
Snappy Kraken Finds Advisor Website Submissions Increased 110%
Snappy Kraken’s State of Digital & AI 2026 report found that form submissions on financial advisor websites increased 110% between 2024 and 2025, while website traffic rose 10.3%. The analysis used aggregate, anonymized data from more than 9,000 advisors. Fourth-quarter conversion rates increased 106%, and advisors with connected CRM systems generated approximately three to four times more engagement across key marketing measures than those without CRM connectivity.
Campaign email volume increased 7.3%, opens rose 4.9% and clicks increased 10.4%, the report found. Awareness content was the most widely used campaign type, but 23% of its users added nurture sequences. Referral campaigns produced the highest email-to-form-submission rate, though only 14.2% of advisors used them. Snappy Kraken said the findings indicate advisor growth increasingly depends on connecting websites, CRM data, campaigns and follow-up processes.
Robert Sofia, CEO of Snappy Kraken, said, “The most important finding is not simply that websites are converting more visitors—it’s that the investor journey is changing. AI is changing where discovery begins, but trust, validation, conversion and follow-through are evolving alongside it. Advisors can no longer rely on a linear funnel or disconnected tactics. Growth will come from connecting each of those moments into a single, cohesive client experience.”
Wealth Solutions Report can be reached at info@wealthsolutionsreport.com.
