In this week’s roundup, Wealth Enhancement agreed to acquire RWA; Concurrent acquired Spire; Waverly acquired Heartwood; Hightower acquired Sandy Cove; Procyon acquired Elite Retirement Consultants and its affiliated tax practice; Triumph joined NorthRock; Raymond James recruited Greenwood Wealth Partners; HB Wealth added the Wealth Care team; Uniting added Dana Cornell and Kyle Kirk; Kestra added Ecclesiastes; Cetera recruited Fitzgerald Financial Group and affiliated with Maine Community Bank’s wealth management program; and Concorde appointed Elizabeth Leon as Vice President of Operations.
Mergers & Acquisitions
Wealth Enhancement To Acquire RWA Wealth Partners
Wealth Enhancement agreed to acquire Boston‑based RIA RWA Wealth Partners, which had approximately $22.46 billion in client assets as of June 30. The acquisition is expected to close in the fourth quarter and will represent an exit for Summit Partners. RWA’s Family Office business will become part of Reserve by Wealth Enhancement, its offering for families generally holding at least $25 million in investable assets.
RWA’s Private Wealth business will operate as advisor teams at Wealth Enhancement, with Steve Reder continuing to work with those teams. Michelle Knight, JP Powers, Nicole LaChapelle and Kristin Fazio will continue leading RWA Family Office. RWA’s family office services include trust administration, professional trustee services, estate planning coordination, estate settlement and tax planning and preparation. Seward & Kissel provided legal representation to RWA’s management team.
Michelle Knight, CEO and Chief Economist of RWA Wealth Partners, said, “Wealth Enhancement shares our belief that comprehensive wealth management starts with a deep understanding of each client and the life they are working to build across generations. This human side of wealth has always been central to how we serve families, because behind every financial decision is a set of goals, values, and aspirations.”
Concurrent Acquires Spire With Approximately $5.4 Billion In Assets
Tampa, Florida‑based RIA Concurrent Investment Advisors acquired Spire Investment Partners through an asset purchase that closed Sept. 30. Spire brings approximately $5.4 billion in assets and more than 30 advisor teams. The transaction is Concurrent’s first acquisition of another platform business at scale, adds a Northern Virginia home office presence and extends its advisor footprint to 33 states.
Spire, a hybrid RIA founded in 1997 and based in McLean, Virginia, supports independent financial professionals and third‑party RIAs. Concurrent now has $28.6 billion in assets under management (AUM), compared with $16.8 billion at the beginning of 2026, and $18 billion in corporate retirement plan assets under advisement. Berkshire Global Advisors advised Spire financially. Seward & Kissel provided Spire with legal representation, while Katz Teller advised Concurrent on legal matters.
David Blisk, Founder and CEO of Spire Investment Partners, said, “This next chapter gives our advisors additional resources, deeper support, and a broader community without asking them to give up the identity of the practices they have worked so hard to build. Spire has always empowered advisors to turn their vision into reality, and this partnership takes that mission even further.”
Waverly Acquires Heartwood With Approximately $1.7 Billion In AUM
Birmingham, Alabama‑based RIA Waverly Advisors acquired Heartwood Wealth Advisors, a Richmond, Virginia‑based wealth management firm that had approximately $1.7 billion in AUM as of Sept. 22. The transaction closed Sept. 25. Founded in 2013, Heartwood was led by Steve Clarke, Sid Martin, Ben Gurley and Wes Kaufman and supported by nine professionals, all of whom joined Waverly.
The acquisition is Waverly’s 36th transaction since it accepted an equity investment in December 2021 from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform. Waverly managed approximately $36.5 billion in assets as of Sept. 25 and has more than 50 offices and over 500 professionals. The firm provides investment, tax, estate and financial planning services to clients including individuals, families, corporate retirement plans, trusts, endowments and institutions.
“Heartwood and Waverly are grounded in many of the same principles,” Justin Russell, President and CEO of Waverly Advisors, said. “Those values are reflected in the enduring client relationships and collaborative cultures that define both organizations. We are proud to welcome the Heartwood team to Waverly and look forward to building on that shared foundation.”
Sandy Cove Joined Hightower Signature Wealth
Chicago‑based RIA Hightower Advisors acquired Sandy Cove Advisors, a Hingham, Massachusetts‑based wealth management practice that had approximately $752 million in AUM as of June 30. Sandy Cove joined Hightower Signature Wealth (HTSW) in the practice’s third external acquisition of 2026.
Sandy Cove was founded by President and Chief Wealth Strategist Deirdre Prescott, and Chief Investment Officer Kate Saltonstall helped lead the firm. It provided investment management, financial planning and family office services, coordinating investment, estate, tax and financial planning decisions with clients’ tax and legal advisors. The practice focused on family legacy planning and life transitions, including divorce. Red Arrow Capital advised Sandy Cove.
Deirdre Prescott, President and Chief Wealth Strategist of Sandy Cove Advisors, said, “We take the time to understand the complete picture, serve as a trusted partner and empower our clients with the information and confidence they need to make thoughtful, informed decisions. Joining HTSW gives us broader resources to support that work while preserving the personal relationships, values and client‑first philosophy that have always defined Sandy Cove.”
Procyon Acquires Elite Retirement Consultants And Affiliated Tax Practice
Shelton, Connecticut‑based RIA Procyon acquired Elite Retirement Consultants, a Sparta, New Jersey‑based wealth management firm, in a transaction that closed Oct. 1 and adds approximately $415 million in AUM. The transaction also brings the firm’s affiliated tax and accounting practice, Dispenziere & Associates, into Procyon’s platform. The acquisition establishes Procyon’s first New Jersey location, and the Sparta office will remain open.
All 12 employees of Elite Retirement Consultants and Dispenziere & Associates will join Procyon, including four financial advisors, one client service associate and the tax staff. Procyon manages nearly $10 billion in client assets and provides wealth management, retirement consulting and employee benefits services. Its other offices are in New York City; Long Island, New York; Maryland; Michigan; and Texas. The firm is part of the Dynasty Financial Partners Network.
Phil Fiore, CEO and Co‑Founder of Procyon, said, “Their tax and accounting expertise naturally complement our integrated wealth management platform, and this partnership is rooted in shared values. Together we believe exceptional service begins with integrity, expertise, and authentic personal relationships.”
Triumph Wealth Management Joins NorthRock Partners
RIA NorthRock Partners added Triumph Wealth Management, a practice with approximately $350 million in AUM, three advisors and six team members. The partnership is NorthRock’s fourth of 2026. Triumph will open a NorthRock office in Madison, Wisconsin, and add an advisor and team members to NorthRock’s Milwaukee presence, established in April following its acquisition of Vantage Financial Partners.
Triumph was founded by Nathan Brinkman, its President and CEO, and works with closely held business owners and high net worth families on business transitions, multigenerational planning and philanthropy. Minneapolis‑based NorthRock provides investment, tax, estate, insurance, legal, business and philanthropic services. It serves more than 7,000 clients and managed over $13.7 billion in assets as of June 30.
Nathan Brinkman, President, CEO and Founder of Triumph Wealth Management, said, “We’ve spent years building relationships with clients and thinking about how we could give them the level of advice and coordination they really need. NorthRock gives us the opportunity to deliver on that vision much more fully. We can bring more resources to our clients, work more closely across generations, and help families with everything from business transitions to estate and philanthropic planning.”
Advisor Transactions
Raymond James Adds Iowa Team With Approximately $1.25 Billion
Raymond James & Associates, Raymond James’ employee advisor channel, recruited David Lorbiecki, Dan “Chris” McPhail Jr., David Haas and Willis Gaer from D.M. Kelly & Company, where they managed approximately $1.25 billion in client assets. The team operates as Greenwood Wealth Partners of Raymond James in Clive, Iowa. Practice Business Manager Holly Ellsworth joined the advisors in the move.
The team provides financial planning and investment guidance to families, individuals, business owners, foundations, endowments, nonprofits and retirees. Lorbiecki, Senior Vice President of Investments, began his financial services career in 1993 and spent 30 years at his previous firm. McPhail is also a Senior Vice President of Investments, while Haas is a Vice President of Investments. Raymond James had approximately $1.97 trillion in client assets as of Aug. 31.
“Through our affiliation with Raymond James, our advisors gain access to an expanded investment platform, comprehensive wealth management resources and the home office support to serve clients across a broad range of financial goals,” said Lorbiecki. “Just as important, Raymond James’ client focused culture and respect for our independence enable us to run our business in a way that reflects who we are: hardworking advisors focused on doing what is right for our clients.”
HB Wealth Adds Three‑Advisor Wealth Care Team In Texas
Atlanta‑based RIA HB Wealth recruited Steven D. Podnos, Rachel Podnos O’Leary and Lauren Podnos‑Garner, who previously operated Wealth Care, an independent, fee‑only RIA with approximately $700 million in AUM. The father‑daughter team establishes HB’s presence in Texas. O’Leary and Podnos‑Garner are based in Austin, while Podnos divides his time between Austin and Cocoa Beach, Florida. Podnos founded Wealth Care in 2002.
The team specializes in serving physicians and other healthcare professionals and also works with high net worth and ultra‑high net worth individuals and families. Steven Podnos previously practiced pulmonary and critical care medicine and continued practicing critical care in the Air Force Reserve until 2023. Advisor Growth Strategies served as transaction advisor to Wealth Care. HB managed over $33 billion as of Sept. 30 and operates 13 offices in seven states.
Steven D. Podnos, Senior Wealth Advisor and Shareholder at HB Wealth, said, “Rachel, Lauren, and I have built our practice around understanding the full picture of our clients’ lives, including the distinct challenges physicians and other healthcare professionals face. HB Wealth strengthens our ability to address every aspect of our clients’ financial lives with the same personal attention and unwavering focus on their best interests.”
Uniting Wealth Partners Adds Dana Cornell And Kyle Kirk
RIA Uniting Wealth Partners added Dana Cornell and Kyle Kirk to its advisor‑owned partnership. Cornell managed approximately $1 billion in client assets at Morgan Stanley, where he worked 13 years. Kirk joins from Ameriprise in northern Pennsylvania, where he managed an approximately $100 million book of business. Kirk is joining the Uniting team in its Olean, New York, office.
Cornell serves ultra‑high net worth clients and is building his practice on Uniting’s independent RIA platform. Uniting’s services include M&A advisory, property and casualty insurance, trust services and lending. Denver‑based Uniting provides investment advisory and related services to clients across the country.
Jay Hummel, Managing Partner and Co‑Founder of Uniting Wealth Partners, said, “We start with what the advisor is trying to accomplish and build the partnership around those objectives. Dana’s needs are different from other UWP advisors, and his structure should reflect that. What all our partner advisors share is majority ownership of their own businesses along with ownership in the larger enterprise we’re building together.”
Kestra Adds Ecclesiastes With Approximately $550 Million In Client Assets
Kestra Financial added Ecclesiastes Wealth Partners, a Richardson, Texas‑based wealth management firm whose financial professionals oversee approximately $550 million in client assets. Founded by Managing Partner and Private Wealth Advisor Shannon Harris, the practice includes Partners Sarah Walsh and Justin Snowden. Its services include financial planning, investment management and multigenerational wealth planning.
Ecclesiastes plans to use expanded technology capabilities, including AI tools, as it grows. Kestra Financial is an Austin, Texas‑based division of Kestra Holdings that supports independent financial professionals and wealth management firms, including traditional and hybrid RIAs.
Harris said, “What stood out to us about Kestra was the combination of flexibility, resources, and support. It gives us access to additional planning solutions and technology while allowing us to continue building the business in a way that reflects who we are and how we serve our clients.”
Cetera Adds Fitzgerald Financial Group And Maine Community Bank
Cetera recruited John Fitzgerald and Fitzgerald Financial Group from Commonwealth Financial Network through its Summit Financial Networks community. The Vineland, New Jersey‑based team had approximately $185 million in assets under administration (AUA) as of July 20 and serves roughly 400 households and more than 1,300 accounts. Financial Professionals Doug Kramer and Gary Bolno and Assistant Tatyana Shevchuk joined Fitzgerald.
Separately, Maine Community Bank’s wealth management program joined Cetera Financial Institutions from LPL Financial. The Portland, Maine‑based program had approximately $120 million in AUA as of Jan. 27. Chief Client Development Officer Kim Donnelly oversees the program, led day to day by Matthew Cyr, Senior Wealth Advisor and Director of Wealth Management.
Fitzgerald, who is President and Lead Financial Advisor at Fitzgerald Financial Group, said, “I didn’t choose LPL, so rather than taking the path of least resistance and automatically going wherever the acquisition took us, I spent a lot of time doing due diligence and deciding where I wanted Fitzgerald Financial Group to be for the next 10 to 20 years.”
Promotions & People Moves
Concorde Appoints Elizabeth Leon As Vice President Of Operations
Concorde appointed Elizabeth Leon as Vice President of Operations. Leon has 30 years of financial industry experience in New York and South Florida and previously served as Senior Client Service Manager for the Southeast region at J.P. Morgan Advisors in Florida.
Her career includes broker‑dealer operations, investment advisory and private banking roles at Merrill Lynch, Morgan Stanley and RBC Wealth Management. Leon’s experience includes risk mitigation and regulatory work. Concorde is a broker‑dealer, RIA and insurance firm operating in all 50 states.
Danielle Delongchamp, President and CEO of Concorde, said, “Her background in broker‑dealer operations and client service management, combined with her extensive FINRA licensing, will strengthen the operational foundation supporting our financial professionals as we continue to grow.”
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