This month’s WSRIA roundup of top RIA news brings you: Accelerated making a minority investment in Brooklyn Fi, Pathstone acquiring Mill Creek, AlphaCore acquiring Elk River, Crewe receiving a minority investment from Wealth Partners Capital Group and HGGC, a Waverly Advisors affiliate acquiring Smithfield Trust, Perennial adding Mike Russell, DayMark adding an $820 million Ohio advisor team, Beacon Coast launching, Dynasty formalizing a consulting group and planning to acquire Optima Group, Holistic selecting Altruist as custodian, Moneta appointing a Director of Strategic Growth Initiatives and Cerulli publishing research on RIA M&A.
Mergers & Acquisitions
Accelerated Wealth Partners Makes Minority Investment In Brooklyn Fi
Accelerated Wealth Partners made a strategic minority investment in Brooklyn Fi, an independent wealth management firm focused on clients with complex equity compensation. The New York-based RIA serves more than 500 client households nationwide from a fully remote platform and works with tech employees, founders and creatives navigating IPOs, acquisitions, tender offers, secondaries, business sales and related planning issues.
Brooklyn Fi will continue to operate under Co-Founders Ally Jane Ayers and Shane Mason and its existing leadership team. Accelerated Wealth said the investment gives Brooklyn Fi growth capital and access to its organic growth and M&A capabilities. Seward & Kissel served as legal counsel to Accelerated Wealth in the transaction.
Accelerated Wealth Founder and CEO Eric Amar said Brooklyn Fi’s “leadership is sharp, the infrastructure is institutional grade, and the track record of growth and innovation speaks for itself. They have chosen a niche that is only going to expand as more wealth is created through equity compensation, and they have the team, the brand, and the technology to become the definitive authority in that space.”
Pathstone Buys Mill Creek Capital Advisors
Pathstone acquired Mill Creek Capital Advisors, a Conshohocken, Pennsylvania-based RIA serving nearly 450 families and institutions with almost $12 billion in assets. The transaction closed June 1. Mill Creek, founded in 2006, adds 46 financial advisors and other professionals to Pathstone. The combined firm will use the Pathstone brand and has almost $30 billion in assets across its Conshohocken and Newtown Square, Pennsylvania, offices.
Pathstone said the firms had known each other for years but began formal talks about combining in summer 2025. Pathstone has more than 775 team members in 22 offices, including affiliate firms, with about $185 billion in assets as of Dec. 31. Colchester Partners was financial advisor to Mill Creek for the deal, while Cozen O’Connor was its legal counsel. Alston & Bird was Pathstone’s legal counsel.
Joshua Gross, CEO of Mill Creek, said, “From our earliest conversations, it was clear that Pathstone and Mill Creek shared a common view of what matters most: serving clients with depth, care, objectivity, and continuity. Pathstone’s culture, capabilities, and long-term orientation made this a natural next step for our clients and our team.”
AlphaCore Adds Elk River Wealth Management
RIA AlphaCore Wealth Advisory acquired Elk River Wealth Management, a seven-person Denver-based team advising nearly $1 billion in assets. Elk River Founder and CEO Chris Freimuth will join AlphaCore as Managing Partner and lead the Cherry Creek and Phoenix teams, with the Elk River team joining AlphaCore.
At close, AlphaCore will have more than 120 professionals across five primary offices in San Diego; Denver; Austin, Texas; Rockville, Maryland; and Greenwich, Connecticut. SDR Ventures served as financial advisor, and Ireland Stapleton served as legal counsel to Elk River. WilmerHale was legal counsel to AlphaCore.
Freimuth said, “Joining AlphaCore was a natural next step for our firm and our clients as we searched for the right long-term partner. We were drawn to the firm’s consistent organic growth and its commitment to building a platform that helps advisors deliver more for clients. AlphaCore’s established presence in Denver and dedicated local advisors give us additional depth and collaboration on the advisory side, while preserving the highly personalized service our clients value.”
Crewe To Receive Minority Investment From WPCG And HGGC
Crewe Advisors, a Salt Lake City-based RIA with about $3.3 billion in AUM as of June 2, agreed to enter a strategic partnership with Wealth Partners Capital Group (WPCG) and HGGC. WPCG and HGGC’s Aspire Holdings platform will make a minority equity investment in Crewe to support acquisitions and organic growth initiatives. Crewe’s management team will remain majority shareholders and continue to lead operations.
Crewe was founded in 2015 by Managing Partner Ryan Halliday and has an additional office in Scottsdale, Arizona. The firm serves individuals, families, entrepreneurs and executives with investment management, financial planning and family office services. The transaction is expected to close in June. Moulton Moore Stella served as legal counsel to Crewe.
Halliday said, “We are excited to partner with WPCG and HGGC as we look to build on the momentum we have created. At Crewe, our fiduciary commitment to clients and our focus on building lifelong relationships have always been central to who we are. This partnership strengthens our ability to invest in our people, deepen our capabilities and expand our reach, while continuing to deliver the high level of service our clients have come to expect.”
Waverly Affiliate Acquires Smithfield Trust Company
RIA Waverly Advisors’ parent company acquired the equity of Smithfield Trust Company, a Pittsburgh-based trust company managing approximately $3 billion in assets. Waverly Advisors said the acquisition expands its trust and estate capabilities. Smithfield provides trust administration, investment management, tax services and estate planning.
Smithfield President and CEO Elizabeth Poggi and Chairman and Chief Investment Officer Timothy Rice will join Waverly as Co-Regional Directors and continue to lead the firm’s team. Waverly said the deal represents its 34th transaction since receiving a 2021 investment from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform. Turkey Hill Management advised Smithfield.
Justin Russell, President and CEO of Waverly Advisors, said, “Acquiring respected trust companies has been a long-standing goal of Waverly’s. Smithfield’s unified approach to trust, tax and investment management directly supports Waverly’s mission of building a cohesive and world-class service offering to better serve our clients. Smithfield’s unwavering commitment to client-first principles aligns seamlessly with Waverly’s philosophy.”
Advisor Transactions
Perennial Adds Mike Russell And $640 Million Practice
Perennial Financial Services announced that Mike Russell joined its hybrid RIA platform from Edward Jones, where he served approximately $640 million in advisory, brokerage and retirement plan assets. Russell is based in Woodland, California.
Founded in 2004, Perennial provides financial planning and investment management services and a platform for advisors pursuing independence.
“My first priority has always been to deliver the best possible outcomes for my clients,” said Russell. “Perennial provides the flexibility, resources, and technology to enhance that experience, while surrounding me with a team that shares the same commitment to excellence. We don’t just manage money, we help clients move forward with confidence. That starts with listening, understanding their objectives, and building a plan they believe in.”
DayMark Adds $820 Million Ohio Advisor Team
DayMark Wealth Partners announced that Rex Mack, Patrick Petsche, Vince Costanzo and Anthony Costanzo joined the firm from Morgan Stanley. The team, which previously managed $820 million in assets, is based in DayMark’s Pepper Pike, Ohio, office. DayMark, an RIA and member of the Dynasty Financial Partners network, stated that the addition brought the firm above $6 billion in assets.
Founded in 2022 and headquartered in Cincinnati, DayMark reported $5.04 billion in assets as of December 2025, up from $1.4 billion at launch. Constellation Wealth Capital acquired a minority stake in DayMark in late 2025. The firm has expanded through acquisitions in Illinois, Ohio, Connecticut, Florida and Utah and serves high net worth individuals, families and business owners.
“We are thrilled to welcome Rex, Patrick, Vince, Anthony and their entire team to DayMark,” said Mike Quin, Co-Founder of DayMark Wealth Partners. “They bring meaningful experience in family planning and a client-first mindset that aligns perfectly with our mission and commitment to client service.”
Beacon Coast Partners Launches As Independent RIA
Beacon Coast Partners launched as an independent, employee-owned RIA based in San Francisco, focused on ultra-high net worth clients navigating liquidity events. The firm is led by Founding Managing Partners Michael Evans and David Jasper. The team previously oversaw approximately $3.5 billion in client assets at UBS.
Beacon Coast said it works with clients before and after liquidity events, integrating asset allocation, cash flow modeling, and tax and estate planning. It operates as a fiduciary and said it maintains a limited client roster to support direct partner engagement during periods of financial complexity and transition.
Evans said, “You can spend years building something without liquidity, without certainty, and then everything changes at once. That transition introduces a new set of decisions, and those decisions often carry long-term consequences. Our work is built around helping clients navigate that moment with clarity and structure.”
Strategic Initiatives
Dynasty Formalizes Consulting Group, Plans Optima Acquisition
Dynasty Financial Partners formalized Dynasty Consulting Group, a management consulting division for independent RIAs. The division is tied to Dynasty’s upcoming acquisition of Optima Group, an advisory, branding and marketing firm founded in 1979. Dynasty said the transaction will add Optima’s strategy, branding and marketing capabilities to Dynasty’s technology, investment, capital and investment banking platform for advisory firms.
The consulting group will work with wealth and asset managers on growth, succession, talent, technology, leadership development, marketing, communications, data, cybersecurity, finance, tax and equity planning. Optima’s team will continue operating from Fairfield, Connecticut. Kenneth R. Hoffman, President of Optima Group, will become Head of Dynasty Consulting Group after the transaction closes. Dynasty supports more than 725 advisors and over $125 billion in assets under administration.
Penney said, “We are building the consulting business of the future. For years, Dynasty has been a growth partner and value creation partner to some of the top RIAs in the country delivering high-end intellectual property, leading-edge technology, and the support of experienced operators. Now, by combining that with Optima Group’s decades of expertise in strategy, branding, and marketing, we can offer something no one else can: a single, integrated partner.”
Strategic Partnerships
Holistic Planning Selects Altruist As Custodial Partner
RIA Holistic Planning selected Altruist as its preferred custodial partner and committed approximately $450 million in assets to the platform. Holistic Planning has more than $1.25 billion in assets under management (AUM). It said the move supports its integration of custodial infrastructure with planning and tax workflows.
The partnership also supports development of HolisticOS, the firm’s agentic operating system for advisors. Holistic Planning said it intends to expand the platform’s capabilities and may make elements available to other independent RIAs as part of its broader technology strategy.
Jason Barber, Founder and CEO of Holistic Planning, said, “Altruist’s API connectivity gives us the flexibility to build the operating experience we want—not just for our own advisors and clients, but for the independent advisors we plan to bring onto HolisticOS. Moreover, having the alternatives marketplace directly within the platform was a game-changer. That combination made Altruist the right fit for our long-term vision.”
Promotions & People Moves
Moneta Names Julie Harrington As Director Of Strategic Growth Initiatives
Moneta appointed Julie Harrington as Director of Strategic Growth Initiatives. Moneta is an RIA with more than $50 billion in AUM. The firm said the new role focuses on advisor recruiting, partnership development and supporting its national expansion strategy.
Harrington previously served as Managing Director at Schwab, where she worked with advisory firms on growth and business development. Moneta said the position aligns with its efforts to address succession planning and consolidation trends.
Keith Bowles, President and Chief Operating Officer of Moneta, said, “Julie brings a unique combination of industry knowledge, relationship-building expertise, and strategic insight that aligns perfectly with Moneta's vision for the future. She has spent her career helping advisors and firms grow, and we are excited to welcome her to Moneta as we continue to invest in our growth platform, expand our national presence, and create new opportunities for our advisors and clients.”
Research
Cerulli Finds Advisors Looking To M&A For Scale
Cerulli said RIA consolidation is accelerating as advisors turn to M&A for scale, respond to changing client demands and keep pace with new platforms and technologies. The findings came from the latest Cerulli Edge—The Americas Asset and Wealth Management Edition. Cerulli said the changes are creating new competitors in an RIA market it estimates will surpass $4 trillion over the next decade.
Cerulli said the most addressable acquisition market comes from advisor retirements, with more than 26,000 retirements projected over the next decade. The firm also said 54% of RIAs are seeking an acquisition, a figure that has increased as firms recognize opportunities. The report said hybrid RIAs are the most acquisitive independent channel, while capital sponsors’ roles continue changing as private equity firms, sovereign wealth funds and insurers show interest.
Stephen Caruso, Associate Director at Cerulli, said, “On average, these retiring advisors have larger books of business than employee advisors looking to break away.”
Wealth Solutions Report can be reached at info@wealthsolutionsreport.com.
