This edition of the Deals & Recruiting Roundup covers Waverly acquiring Pacific Portfolio; Bluespring buying Signature; AssetMark purchasing Efficient Advisors; Alaris launching an online portal to match buyers and sellers; Sanctuary recruiting MartinWright; HB onboarding an advisory team in Charlotte, North Carolina; Wealth.com and Indivisible partnering on estate planning; LPL cutting advisor fees; Trilogy appointing Hayley Henningsen as Vice President of Business Development; the Financial Planning Association electing D. Crystal Alford-Cooper President-Elect; Essential Edge naming Askari Foy Outsourced Chief Compliance Officer; and Modern Wealth appointing Derek Bruton as Head of M&A.
Larry's Take
More than just leaves are falling this autumn. LPL announced pricing drops to several of its services in a move the firm said follows the industry’s shift to advisory assets versus brokerage assets. While many still think of LPL as a broker-dealer, it clearly wants to signal that it is attentive to the advisory space.
Fee cuts have immediate implications for retaining Commonwealth advisors, of course: More competitive fees will sweeten the deal for Commonwealth advisors who stay. Beyond that, the structure of the changes will be especially beneficial for retaining and recruiting advisors with lower asset numbers.
LPL appears to be willing to leap ahead of the gradual compression of fees in wealth management, confident that they will retain profitability and openly inviting fee competition. It’s a bold move, but so was paying $2.7 billion in cash for Commonwealth. Rich Steinmeyer has his foot on the accelerator.
If you would like to discuss this Larry’s Take further, including how these trends might impact your business, please contact me at larry.roth@ascentix.com.
Mergers & Acquisitions
Waverly Buys Pacific Portfolio, Expands Into The West Coast
Waverly Advisors acquires Seattle-based Pacific Portfolio Consulting, a wealth management firm that oversees $5 billion in assets under management (AUM). The deal, which closed Sept. 26, marks Waverly’s entry in the Pacific Northwest and strengthens its capabilities in corporate retirement plans.
The acquisition boosts Waverly’s AUM to $25.1 billion. The RIA, based in Birmingham, Alabama, has made 26 transactions since Wealth Partners Capital Group and HGGC’s Aspire Holdings platform purchased a stake in it in December 2021.
“This partnership aligns with Waverly’s commitment to continuously enhance the client experience,” said Justin Russell, President and CEO of Waverly. “The addition of Pacific Portfolio’s trust services will further strengthen our ability to serve clients effectively. Together, we can provide comprehensive wealth management solutions to clients from coast to coast.”
Bluespring Purchases Signature, Adds $1.41 Billion In Client Assets
Bluespring Wealth Partners acquires Signature Wealth, a Pittsburgh-based RIA that oversees $1.41 billion in client assets. Signature provides services including personalized investment strategies, estate and tax planning, socially responsible investing, philanthropy and business consulting.
Signature marks Bluespring’s eighth acquisition this year. In June, the company, based in Austin, Texas, bought SilverStar Wealth Management and merged it into existing Bluespring firm LifeBridge Financial Group, creating a combined firm that oversees $1.4 billion AUM.
“Signature Wealth is exactly the type of firm we look to partner with – strong leadership, a clear growth vision, and a deep commitment to clients,” said Pradeep Jayaraman, President of Bluespring Wealth Partners. “Their strong client focus, entrepreneurial mindset, and commitment to long-term growth embody the qualities we value most in our partners at Bluespring.”
AssetMark To Acquire $3 Billion Efficient Advisors From Fiduciary Services
AssetMark strikes a deal to purchase Efficient Advisors, an RIA that manages $3 billion in client assets. The deal is expected to close by year end. Efficient is owned by Fiduciary Services Group (FSG), the parent company of PCS Retirement, a service provider within the AssetMark Retirement Services.
Kirkland & Ellis served as legal counsel to AssetMark while DLA Piper advised FSG. As of Sept. 30, AssetMark had over $158 billion in platform assets. It serves over 10,500 financial advisors.
“AssetMark’s growth strategy is grounded in a disciplined approach to expansion – one that combines institutional insight with a clear vision for the future of independent advice,” said Lou Maiuri, AssetMark Chairman and Group CEO. “The acquisition of Efficient Advisors reflects our commitment to thoughtful, inorganic growth that strengthens our position within the RIA space.”
Alaris Launches Portal To Match Buyers And Sellers
Alaris Acquisitions, which advises sellers on M&A, introduces an online portal designed to help buyers identify potential acquirers. Called Buyer Portal, the platform, which uses AI, allows buyers to reach potential sellers through profiles, videos and interactive insights.
Amid strong RIA M&A activity, Alaris said Buyer Portal can offer RIAs looking to buy or sell “a more transparent, efficient and humanized” experience. Buyers will gain insight into seller activity and interest, while sellers will better understand buyer models, strategies and cultural fit.
“The Buyer Portal gives firms a way to market themselves in a public, accessible space that’s never existed before in wealth management M&A,” said Allen Darby, Founder and CEO of Alaris Acquisitions. “For sellers, it removes guesswork and introduces a transparent window into who buyers truly are. For buyers, it’s an opportunity to stand out on the strength of their culture, integration philosophy and long-term vision.”
Advisor Transactions
Sanctuary Wealth Recruits Atlanta-Based MartinWright Advisory
Sanctuary Wealth announces Atlanta-based MartinWright Advisory joined its network. Founded by Bradley Martin and Margaret Wright, the firm serves ultra-high net worth (UHNW) multigenerational families. Wright and Martin collectively oversaw more than $4.5 billion in client assets at their previous firms.
Wright, a highly ranked female wealth advisor in Georgia and nationally by Forbes, spent more than 10 years building her practice at Truist. Martin spent nearly 11 years as a Partner at Balentine, including four years as Head of Atlanta Wealth Management.
“At Sanctuary, we seek partners who share our commitment to independence, innovation and client advocacy,” said Vince Fertitta, President of Wealth Management at Sanctuary Wealth. “MartinWright Advisory exemplifies these values, combining banking and RIA expertise with bespoke service that ensures all aspects of a client’s financial life are addressed.”
HB Recruits $15 Billion Advisory Team From J.P. Morgan
HB Wealth, an Atlanta-based RIA that oversees $29 billion in client assets, opened an office in Charlotte, North Carolina, by recruiting Market Leader Matthew Moore and Senior Wealth Advisors and Shareholders Andrea Smith and Rebecca Warner from J.P. Morgan, where they oversaw $15 billion in assets.
The Charlotte team provides ultra-high net worth families, private business owners and single-family offices with estate and succession planning and help for businesses navigating transitions and liquidity events. The group also includes Advisory Associate Jared Green and Senior Administrative Associate Ana Pena.
“We’re excited to welcome this talented team as their depth of experience serving ultra-high-net-worth clients underscores their ability to deliver the comprehensive advice and high-touch service our clients expect,” said Thomas Carroll, CEO at HB Wealth. “Charlotte’s thriving financial community and growing population make it a natural next step for our firm, and establishing a presence here allows us to better serve one of the Southeast’s most dynamic markets.”
Strategic Partnerships
Indivisible Partners Names Wealth.com Exclusive Estate Planning Partner
Wealth.com announces a partnership with Indivisible Partners to be the exclusive estate planning services provider for its advisors. The technology is designed to let advisors generate real-time plans to reduce administrative burden, increase efficiency and support better client outcomes.
Based in Clearwater, Florida, Indivisible was founded by John Thiel, former Head of Wealth Management at Merrill Lynch, and John Hogarty, former Chief Operating Officer of Global Wealth & Investment Management for Bank of America/Merrill Lynch. The company oversaw $421 million in AUM according to its October Form ADV filing.
“We set out to build the platform elite advisors told us they need, and Wealth.com fits into that commitment,” said Thiel, Co-Founder and Executive Chairman of Indivisible Partners. “For high-net-worth families with complex estates, this level of integration materially elevates the quality of advice. It also strengthens the advisor value proposition—enabling more transparent, collaborative and intuitive planning experiences that truly put the client first.”
Strategic Action
LPL Cuts Prices Across Its Advisory Platform
LPL Financial reduces fees for advisory services including its Strategic Asset Management and Model Wealth Portfolios advisory programs, and for end clients in LPL’s Guided Wealth Portfolios. The San Diego-based company said the move reflects client movement from brokerage to advisory services as nearly 80% percent of LPL’s organic net new assets to its advisory channel come from advisory solutions.
The changes take effect on July 1, 2026. LPL, which purchased Commonwealth for $2.7 billion in cash in August, has been engaged in efforts to retain the firm’s approximately 3,000 advisors. Cutting fees will allow advisors to better retain and seek new clients.
“As advisory services become increasingly central to both advisors’ businesses and their clients’ portfolios, we’re harnessing our scale and capabilities to deliver platforms that set the industry standard,” said Aneri Jambusaria, Chief Wealth Officer, LPL Financial. “This latest enhancement makes our platforms among the most competitive in the industry and underscores our unwavering commitment to equipping advisors with high-impact tools that elevate their practice, deepen client relationships and expand access to quality advice for those who need it most.”
Promotions & People Moves
Trilogy Hires Hayley Henningsen As Vice President Of Business Development
Irvine, California-based Trilogy Financial Services hires Hayley Henningsen as Vice President of Business Development to help source, qualify and close acquisition targets for the firm. She will report to Jason Inglis, who joined Trilogy in February as Chief Development Officer.
Henningsen will focus her outreach efforts on mid-sized RIAs and financial advisory practices that align strategically, financially and culturally with Trilogy. She previously served as Associate Director of Business Development at Sowell Management.
“We are excited to enhance our inorganic growth efforts by bringing Hayley to the Trilogy team,” Inglis said. “She brings a great deal of industry knowledge, existing relationships, and positive energy with her to Trilogy.”
Financial Planning Association Board Elects 2026 President-Elect
The Financial Planning Association’s (FPA) Board of Directors names D. Crystal Alford-Cooper to lead the trade association and membership group for Certified Financial Planners (CFPs). She will serve a one year term starting Jan. 1. The FPA Board also elected other new officers and board members.
Alford-Cooper currently works as director of financial planning at Law & Associates Wealth Management and Planning in Glen Echo, Maryland. She is a former adjunct professor at Howard Community College, a former committee member of CFP Board’s Council on Education and a past President of the Association of African American Financial Advisors.
“I am excited to help FPA continue to help the profession evolve to ensure it’s meeting the needs of all who can benefit from the guidance of the financial planning community,” Alford-Cooper said. “I take very seriously the responsibility we have at FPA to represent the profession and ensure planners are always rising to the occasion to meet their clients’ needs and all people where they are.”
Essential Edge Appoints Askari Foy As Outsourced Chief Compliance Officer
Essential Edge Compliance Outsourcing Solutions names Askari Foy Outsourced Chief Compliance Officer. In this newly created role, Foy is responsible for providing the firm’s clients with executive-level support for adherence to regulatory guidelines, enhanced compliance programs and strong compliance cultures.
Foy was an executive at the Securities and Exchange Commission for 13 years. He also served as Chief Compliance Officer at Silicon Valley Bank Wealth Management and Gibbs Wealth Management and Managing Director at Standish Compliance Services, ACA Compliance Group and Brightside Investment Adviser Consultants.
“Welcoming Askari to the team boosts our ability to provide comprehensive support across the spectrum of business models,” said Essential Edge Co-Owner and Managing Director Sander Ressler. “For larger enterprises that have complex needs but don’t want to spend valuable time and money bringing the CCO function in-house, leveraging someone like Askari is a win-win.”
Modern Wealth Hires Derek Bruton As Head Of M&A
Modern Wealth Management appoints Derek Bruton as Head of M&A, where he will oversee the firm’s growth strategy and lead its Partnership Development team. Bruton will identify acquisition targets and cultivate relationships with investment bankers and consultants familiar with RIA transactions.
Bruton joins Modern Wealth from the Gladstone Group, where he served as Senior Managing Director. He also held executive positions at Charles Schwab, TD Ameritrade and LPL Financial.
“Modern Wealth has achieved early success in our acquisition strategy over just 30 months, and Derek brings the industry knowledge, connections, passion and drive to take that momentum even further,” said Jason Gordo, Co‑Founder and President of Modern Wealth. “Derek is a difference maker. We believe he will take our growth to the next level by drawing on the relationships and expertise he’s built over three decades in the industry. Bringing in talent of Derek’s caliber is an investment in our future and our continued national expansion.”
Thomas Lee, Senior Editor and Staff Writer at Wealth Solutions Report, can be reached at thomas.lee@wealthsolutionsreport.com.
