La Jolla, California-based independent RIA AlphaCore Wealth Advisory is acquiring Callan Capital, a San Diego-based wealth management firm with $2.4 billion in assets under advisement, in a transaction the firms said Tuesday is expected to close in the second quarter of 2025.
The transaction is expected to enhance AlphaCore’s ultra-high net worth (UHNW) and family office capabilities, strengthen its presence in San Diego and Denver, and open a new market for the firm in Austin, Texas, it said.
The firm will be one of the largest RIAs in California after the transaction closes, according to a news release.
Callan Capital was founded in 2007 by Ryan, Tim and Trevor Callan, its Managing Partners. Tim and Trevor Callan will join AlphaCore’s Management Committee, and Ryan Callan will lead the launch of AlphaCore Family Office Services, which will offer expanded tax advisory, estate planning and philanthropic strategies, alongside the existing investment management available to AlphaCore’s HNW and UHNW clients.
Callan Capital provides specialized wealth management services catering to business owners, executives and multi-generational families. Its focus on planning, tax-efficient strategies and family office solutions “complement[s] AlphaCore’s commitment to providing personalized planning services and differentiated investment solutions,” according to the news release.
“Callan Capital will adopt the AlphaCore brand upon the close of the transaction,” Dick Pfister, CEO and Founder of AlphaCore, told WSR. “As with prior mergers, the business will be fully integrated into AlphaCore’s brand, technology, investment process, and culture. The Callan brothers will play a key role in building out and officially launching AlphaCore Family Office Services.”
“We plan to empower and elevate employees across both firms, given the significant opportunities this partnership presents,” Pfister went on to say.
Pfister recalled he has known Trevor Callan for more than 20 years within the La Jolla community. “The current office locations are just two blocks apart and many business discussions have occurred over the years,” Pfister told WSR.
Aidan Walsh, Head of Corporate Development at AlphaCore, “met with Tim Callan for coffee in July to discuss Callan’s strategic plans,” Pfister recalled. “This conversation ultimately led Callan to retain Advisor Growth Strategies as an M&A consultant to advise on the transaction process.”
The transaction represents a “natural evolution of our long-standing relationship with Callan Capital,” Pfister said in the news release. “I believe that Trevor, Tim, and Ryan bring exceptional leadership and expertise, strengthening our ability to serve wealthy families and deliver a full suite of family office services.”
The Callans “feel fortunate to have known AlphaCore for two decades and are confident in our shared vision and alignment of core values,” said Trevor Callan. “Our mission will continue to focus on creating meaningful, positive changes in our clients’ lives. This partnership ensures and strengthens our ability to deliver on that commitment today and for generations to come.”
"AlphaCore’s investment expertise, scale, and growth-oriented approach provides the ideal platform to elevate our team and enhance our capabilities while maintaining the high-touch service our clients expect,” Tim Callan said.
AlphaCore “developed a disciplined and selective inorganic growth strategy, as highlighted in our partnerships” with All Season Financial, enTrust Wealth Advisors and now Callan Capital, according to Walsh.
“Our goal is to continue bringing on top-tier talent and complementary skillsets to strengthen our presence in key markets,” added Walsh, who joined AlphaCore last May.
When Walsh joined AlphaCore, it said it had $2.8 billion in assets under management. Walsh became the firm’s 11th hire in six months.
In December 2023, AlphaCore received a strategic investment from Constellation Wealth Capital. Before that, AlphaCore acquired Greenwich, Connecticut-based Magnolia Lane and Denver-based Johnston & Associates.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
