This month’s WSRIA roundup covers Corient’s two pending acquisitions involving firms with more than $25.9 billion in combined assets; Hightower’s Stearns and Valley transactions; four Wealth Enhancement deals; pairs of acquisitions by Merit, Allworth and MAI; Prime Capital and F.L.Putnam receiving investments; Sequoia’s All Star acquisition; Carson and Savvy recruitments; and ECHELON’s record RIA M&A data.
Mergers & Acquisitions
Corient To Acquire RIAs With More Than $25.9 Billion
Miami-based RIA Corient agreed to acquire New York-based RIAs Summit Trail Advisors and Seven Bridges Advisors. Summit Trail managed more than $21 billion as of March 31, while Seven Bridges had $4.9 billion in AUM. Summit Trail serves ultra-high net worth individuals, families and institutions as an outsourced family office and Chief Investment Officer, while Seven Bridges operates as a multifamily office and wealth manager serving entrepreneurs and founders, financial services executives and ultra-high net worth families.
Summit Trail operates in 10 cities and was co-founded by Managing Partner Jack Petersen, Partner and CIO Dave Romhilt, and Partners and Advisors Tom Palecek, John Scarborough and Peter Lee. Seven Bridges was founded in 2011 by CEO and Partner Larry Cohen. The principals of both firms will become Corient Partners after their respective transactions close. Corient manages about $556 billion globally.
Kurt MacAlpine, Founding Partner and CEO of Corient, said, “The decision by a firm of Summit Trail’s caliber to join Corient serves as meaningful validation of our firm’s quality and the differentiated value of our private partnership structure and business model. Summit Trail is an exceptional firm, with exceptional people. With their deep experience in ultra-high-net-worth advisory, the Summit Trail team will be a strong addition to our partnership, extending our expertise and broadening our client relationships across the country.”
Hightower Adds Stearns, Agrees To Acquire Valley Financial
RIA Hightower Advisors added Stearns Financial Group (SFG), which had approximately $2.5 billion in assets under management (AUM) as of June 30, to Hightower Signature Wealth (HTSW), its integrated wealth management practice. Stearns, which has 30 team members and offices in Greensboro and Chapel Hill, North Carolina, first partnered with Hightower in 2020. The announcement said Stearns would operate through Signature Wealth’s centralized model.
Hightower also agreed to acquire Valley Financial Group, an independent wealth management practice in Ambler, Pennsylvania, with approximately $275 million in AUM as of June 30. Valley will join HTSW. HTSW centralizes investment management, operations, technology, compliance, marketing and client service and had approximately $40 billion in AUM as of June 30, more than 160 advisors and over 35 locations following the Stearns addition.
Larry Restieri, CEO of Hightower, said, “SFG has been a valued part of the Hightower community for several years, making this a natural next step in our relationship. We are proud to welcome the team to HTSW and help them build on the trusted client relationships they have fostered for more than three decades.”
Wealth Enhancement Announces Four RIA Deals Involving More Than $1.9 Billion In Client Assets
Wealth Enhancement acquired or agreed to acquire the investment advisory businesses of four independent RIAs with more than $1.9 billion in combined client assets. The transactions involve Alabama-based Cloud Investments, with more than $462 million in client assets as of July 21; Illinois-based Miramar Capital, with over $592 million as of July 28; Washington-based Weinand Financial, with approximately $644 million as of Aug. 11; and Oklahoma-based Servo Wealth Management, with about $210 million as of Aug. 5.
The pending Cloud acquisition, involving a firm led by President and Wealth Advisor Don Cloud, would give Wealth Enhancement its first Alabama location. Miramar, founded by Senior Portfolio Managers Bob Kalman and Max Wasserman, focuses on dividend-growth strategies. Weinand Financial, founded in 1991 and led by Mike Weinand, focuses on retirement and investment planning, while Servo, founded in 2012 by Eric Nelson, serves individuals and families including physicians, attorneys, executives and business owners. The Miramar transaction closed July 31, and the Weinand and Servo transactions closed Aug. 15.
Mike Weinand said, “We’ve spent more than three decades building Weinand Financial around the needs of our clients, and we were very intentional about what the next chapter should look like. Wealth Enhancement gives us the ability to bring more resources to the table without losing the personal relationships that have defined our firm. It’s an opportunity to strengthen what we offer clients today while building for the future.”
Merit Acquires Towson And Bridgeway With About $1.4 Billion
RIA Merit Financial Advisors acquired Towson Wealth Management and The Bridgeway Group, adding approximately $1.4 billion in combined assets. Maryland-based Towson oversaw approximately $502.5 million, including $297.5 million in AUM and $205 million in assets under administration as of March 31. Southern California-based Bridgeway oversaw about $900 million in client assets across offices in Pasadena and Covina.
Towson’s transaction closed July 17, and its full team joined Merit, with CEO Kurt Wiegert becoming Wealth Manager and Partner. Bridgeway’s transaction closed July 31, and all nine team members joined Merit, including Partners Matt Dupon, Sean Montgomery and Scott Miller, who became Wealth Managers and Partners. Both practices rebranded as Merit Financial Advisors. Merit managed about $30.1 billion in assets as of July 20, including $22.98 billion in advisory assets.
“We knew we were going to make a transition, so it made sense to step back and ask where we wanted to go from here,” Dupon said. “We have built a strong business and want to keep growing, but continuing at this pace requires greater infrastructure and support. Merit gives us that support while allowing us to maintain the independence that has always been extremely important to us.”
Carlyle To Provide Prime Capital Financial With $600 Million
Carlyle’s Global Credit platform agreed to provide RIA Prime Capital Financial with an approximately $600 million hybrid capital solution that includes a minority ownership interest and values Prime Capital at more than $1.8 billion. Abry Partners, which invested in Prime Capital in 2023, will exit. Prime Capital will remain majority employee-owned following the transaction.
Prime Capital has nearly $50 billion in AUM across 68 offices and approximately 180 advisor-owners. Its leadership and advisor-led model will remain unchanged. William Blair, Goldman Sachs, Kirkland & Ellis, Spencer Fane and KPMG advised Abry and Prime Capital, while Debevoise & Plimpton advised Carlyle.
Glenn Spencer, CEO of Prime Capital Financial, said, “For decades, our profession has measured success through assets under management. We have always believed there was a better measure. Assets are the outcome. Value is the objective. Our responsibility is to create extraordinary value for clients while building a first-class environment for our teams. Carlyle shares that long-term vision, and together we believe we can build an institution that grows stronger across generations.”
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.”
Sequoia Acquires All Star Financial, Adding $796 Million In AUM
Sequoia Financial Group acquired All Star Financial, a Twin Cities-based independent wealth management firm with $796 million in AUM and another $566 million in retirement plan assets under advisement as of June 30. The transaction adds All Star’s 14 employees, including tax professionals, to Sequoia, which had $34.9 billion in AUM as of June 30.
All Star serves individuals and families with wealth management, investment management and tax-focused strategies. The release said All Star Founder and CEO Robert Klefsaas would join Sequoia with the team and remain actively involved in client service and integration, while All Star’s tax professionals would become part of Sequoia Tax Services. Faegre Drinker served as legal advisor to All Star. Sequoia Financial provides investment advisory services through RIA Sequoia Financial Advisors.
Klefsaas said, “Our clients count on us to be proactive and practical—guiding them to make informed decisions, recommending tax-efficient strategies, and staying ahead of opportunities. Partnering with Sequoia Financial lets us preserve those relationships while expanding our capabilities. Our focus remains: helping clients build, protect, and use their wealth with confidence.”
Allworth Acquires $1.1 Billion Sachetta And Arthur Stein Financial
RIA Allworth Financial acquired Sachetta, a Lynnfield, Massachusetts-based wealth management and tax advisory firm with $1.1 billion in AUM. The deal adds 21 professionals, including 13 wealth and tax advisors. Allworth also acquired Bethesda, Maryland-based RIA Arthur Stein Financial, which focuses on comprehensive financial planning for federal employees and retirees.
The Sachetta acquisition adds tax-planning capabilities and a practice focused on business owners, while Arthur Stein brings a client base centered on federal workers and retirees. Sachetta was advised by Houlihan Lokey. Allworth said the deals are among its first acquisitions since an April strategic investment partnership led by Integrum Holdings, Lightyear Capital and Ontario Teachers’ Pension Plan. The firm has completed more than 45 acquisitions since 2018.
Arthur Stein, Founder of Arthur Stein Financial, said, “Like us, Allworth is a fiduciary that puts clients first and delivers personalized, comprehensive advice. The addition of in-house CPAs and attorneys for tax and estate planning means we can now offer clients a truly coordinated approach where every financial decision is evaluated in the context of their full financial picture.”
MAI Adds $1.04 Billion With Two RIA Acquisitions
RIA MAI Capital Management acquired Waypoint Wealth Counsel and OG Private Wealth in transactions adding approximately $1.04 billion in combined AUM. Atlanta-based Waypoint manages about $490 million and joined MAI on Aug. 14, giving the Cleveland-based firm its first Atlanta office. OG Private Wealth, with offices in Chico and Hermosa Beach, California, manages approximately $551 million.
Waypoint was founded in 2014 by Brad McGrew and Matthew Woods, who will continue leading MAI’s Atlanta team as Market Leaders. Brothers Ryan and Mike O’Donnell founded OG after working at firms including Merrill Lynch and will serve as Market Leaders in California. Colchester Partners served as financial advisor and Arnall Golden Gregory served as legal advisor to Waypoint.
Rick Buoncore, CEO and Chairman of MAI Capital Management, said, “That client-first culture aligns naturally with MAI. This acquisition gives us the opportunity to enter a market we have long viewed as strategically important, but finding the right people mattered more than simply expanding our footprint. With Waypoint, we found both an outstanding team and an opportunity-filled market.”
Advisor Transactions
Carson Adds Doyle And Loughman, Yari Capital
Carson Group added Doyle and Loughman Wealth Management, a New Hampshire-based practice with approximately $1.76 billion in advisory and brokerage assets, and Yari Capital, an Atlanta practice with approximately $405 million in AUM. Doyle and Loughman joined from Wells Fargo Advisors Financial Network, and the addition gives Carson Wealth a second location in Hanover, New Hampshire. Yari joined RIA Carson Group’s independent advisor channel from Northwestern Mutual.
Managing Partners and Wealth Advisors Brian Doyle and Stephen Loughman founded Doyle and Loughman, whose team also includes two Wealth Advisors and seven operations support professionals. Yari is led by Founder and Senior Wealth Advisor Kurt Mattson and includes Olivia Payne, Director of Financial Planning, and three support professionals. Carson Group manages more than $62 billion in assets and serves over 60,000 client families through more than 165 partner offices, including over 50 Carson Wealth locations.
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.”
Savvy Adds Blue Barn, Paragon With $550 Million In AUM
RIA Savvy Advisors added Blue Barn Wealth and Paragon Private Wealth Management to its network, bringing approximately $550 million in combined AUM. Orem, Utah-based Blue Barn manages about $300 million, while Franklin, Tennessee-based Paragon manages about $250 million. The additions raise Savvy above $8 billion in total AUM after the firm recruited more than $4 billion in assets during 2026, according to the company.
Blue Barn, led by Jeff Brimhall, serves more than 220 households and multiple 401(k) plans and provides services including tax and retirement planning, charitable giving strategies and estate-planning coordination. Paragon, founded by Allen Buckley, serves individuals, families and entrepreneurs with investment management, financial planning, tax planning and tax preparation.
Brimhall, Managing Partner of Blue Barn Wealth, said, “Blue Barn Wealth was built around the belief that wealth is about more than financial assets. It’s about helping clients align their resources with the lives they want to create. Savvy gives us the operational support and technology foundation to deliver that experience while continuing to build a firm centered on truly comprehensive planning and client relationships.”
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.”
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