Aptus Capital Advisors has joined forces with LibertyFi to create a $20 billion platform offering outsourced expertise, operations and asset administration companies for registered funding advisors.
DSJ, a New York accounting agency, additionally introduced the creation of a brand new RIA to higher serve shoppers, whereas Buckingham Strategic Wealth picked up greater than 1 / 4 billion in belongings with a Detroit acquisition, and Atria poached an Osaic staff with $420 million. St. Louis-based Krilogy introduced three acquisitions in 2023, because the agency strikes nearer to its aim of $5 billion in belongings by 2026.
In different RIA news reported this week, Rockefeller captured a $5 billion Merrill Lynch staff, MAI added greater than $500 million in its 3rd deal of 2024, the AmeriFlex Group snapped up a staff of seven from Commonwealth and Non-public Advisor Group snagged a trio from the lately rebranded Axtella.
Summit attracted a team of five to its fairness partnership platform; Merrill lost six to Dynasty-supported independence; Captrust picked up 9 in Houston; and Karl Heckenberg’s new RIA funding car unveiled its second and third portfolio companies—Perigon Wealth Management and Lido Advisors.
Additionally this week, Echelon Partners reported that M&A exercise within the RIA house dropped in 2023 for the primary time in 12 years, a development that appears to have reversed within the second half of the yr and into 2024.
Aptus Capital Advisors Buys LibertyFi
Aptus Capital Advisors, an asset management-focused RIA and outsourced CIO serving people, small companies, trusts, estates and RIAs with about $4.25 billion underneath administration, has acquired expertise platform and back-office companies supplier LibertyFi.
Based on an announcement Thursday, the mixed agency represents greater than $20 billion in brokerage and advisory belongings and can provide a brand new turnkey choice to advisors searching for personalized expertise, funding administration and operations help. A menu of “a la carte” companies can even be made out there for integration into present tech stacks.
Each firms are primarily based in Alabama. In Birmingham, LibertyFi was serving greater than 30 companies with 178 advisors overseeing virtually $15 billion in belongings; the corporate reported that shoppers noticed a mean natural progress price of 18% in 2022—or almost 5 occasions the trade common. Aptus, on the Gulf Coast in Fairhope, has grown reportable belongings by about 3,400% since 2018.
New York Accounting Agency DSJ Introduces RIA
DSJ, an accounting agency serving the tri-state space from Lengthy Island and Manhattan places of work, has launched an affiliated RIA in collaboration with Buffalo-based Nottingham Advisors.
Led by Managing Accomplice Bob Jahelka, alongside together with his son and COO Stephen Jahelka, DSJ registered DSJ Wealth Administration with the SEC in fall 2022 after which spent the subsequent yr looking for an appropriate companion to deal with asset administration.
“We had been extraordinarily deliberate in choosing an RIA who shared our shopper centric philosophy dedicated to tax environment friendly investing methods with a longer-term horizon,” stated Stephen Jahelka, in an announcement.
In addition they wished to enter the market within the first weeks of the yr, he famous, when “it’s widespread for people to reevaluate their funds and take proactive steps to handle their monetary future.”
“We wished to make certain we had been a part of that dialog,” he stated.
The partnership with Nottingham, which oversees about $4 billion in belongings, allowed DSJ to launch with a smaller employees—at present simply two advisors—and outsource elements of the method. Going ahead, Nottingham will design personalized portfolios for DSJ shoppers whereas the RIA’s advisors concentrate on monetary planning and tax administration.
Established in 1972, DSJ contains the CPA and an advisory enterprise that gives outsourced CFO and multi-family workplace companies, succession planning, authorized help, M&A recommendation and now, a broader vary of built-in wealth administration companies.
Buckingham Buys Michigan Affiliate
St. Louis-based Buckingham Strategic Wealth is acquiring an affiliated follow within the larger Detroit space.
Wasserman Wealth Administration, a five-person staff led by Brad Wasserman, has leveraged the Buckingham Strategic Companions platform since launching in 2003 and can formally develop into part of the Focus Monetary companion when the deal closes later this quarter. On the time of its final federal submitting, in late March, Wasserman was managing $267.4 million for somewhat greater than 175 shoppers.
“Making the transfer to hitch Buckingham was the logical, pure step within the evolution of our agency,” Wasserman stated in an announcement.
Buckingham is among the many largest companies within the Focus Monetary Companions community, reporting some $24.3 billion in managed belongings on every of its ADVs. It’s anticipated to be one of some left standing after Focus’ new owners consolidate the network right into a handful of its largest companions.
Atria Pulls $420M Paragon Monetary from Osaic
Atria Wealth Options, a Lee Fairness Companions–backed household of wealth administration companies primarily based in New York Metropolis, has attracted a team of 11 in Arizona from Osaic.
With $420 million in belongings, Paragon Monetary Group is led by founder Frank Brown and is becoming a member of Atria’s hybrid RIA and dealer/supplier, Cadaret Grant, in a bid to entry higher expertise, expedite progress and “be a part of a tradition that cares,” in response to an announcement.
Launched in 2017 by former Morgan Stanley govt Doug Ketterer, Atria owns a number of subsidiaries offering brokerage and RIA companies, together with Cadaret Grant, NEXT Monetary Group, Western Worldwide Securities, SCF Securities, CUSO Monetary Providers and Sorrento Pacific Monetary. In September, it accomplished its acquisition of Kestra subsidiary Grove Level Monetary.
The agency studies round $120 billion in belongings throughout 1,700 monetary professionals.
Native Trio Joins $2B RIA Krilogy
Krilogy, a St. Louis-based RIA based in 2009 and managing about $2 billion for nearly 2,000 shoppers, onboarded three new groups and added greater than $300 million in recruited belongings in 2023.
The latest to join was an all-female trio within the St. Louis space beforehand with Six Level Monetary, which has ceased operations. Led by former Six Level companion Karen Maurer, who has stepped into the roles of companion and senior wealth supervisor at Krilogy, the staff contains Paraplanner Cindy Stewart and Wealth Providers Supervisor Lily Morley-Park.
Created by President and CEO Kent Skornia, Krilogy is concentrated on growing younger advisors and offering holistic wealth administration by means of in-house monetary planning, asset administration, tax and authorized groups. The agency has grown belongings from $20 million when it launched in 2009 to $2 billion in the present day.
Krilogy has grown organically and thru a number of acquisitions since 2016. With a concentrate on Texas and “a pair” letters of intent signed in several regional markets, Skornia stated he expects to succeed in $5 billion in belongings by early 2026.
“Good, constant progress,” he stated. “We’re not making an attempt to do 10 to 12 offers a yr; we develop organically by $400-$500 million a yr anyway, so choosing up one other $400-$500 million in acquisition and recruiting isn’t too intimidating for us. We have been doing that fairly persistently.”
Aptus Capital Advisors has joined forces with LibertyFi to create a $20 billion platform offering outsourced expertise, operations and asset administration companies for registered funding advisors.
DSJ, a New York accounting agency, additionally introduced the creation of a brand new RIA to higher serve shoppers, whereas Buckingham Strategic Wealth picked up greater than 1 / 4 billion in belongings with a Detroit acquisition, and Atria poached an Osaic staff with $420 million. St. Louis-based Krilogy introduced three acquisitions in 2023, because the agency strikes nearer to its aim of $5 billion in belongings by 2026.
In different RIA news reported this week, Rockefeller captured a $5 billion Merrill Lynch staff, MAI added greater than $500 million in its 3rd deal of 2024, the AmeriFlex Group snapped up a staff of seven from Commonwealth and Non-public Advisor Group snagged a trio from the lately rebranded Axtella.
Summit attracted a team of five to its fairness partnership platform; Merrill lost six to Dynasty-supported independence; Captrust picked up 9 in Houston; and Karl Heckenberg’s new RIA funding car unveiled its second and third portfolio companies—Perigon Wealth Management and Lido Advisors.
Additionally this week, Echelon Partners reported that M&A exercise within the RIA house dropped in 2023 for the primary time in 12 years, a development that appears to have reversed within the second half of the yr and into 2024.
Aptus Capital Advisors Buys LibertyFi
Aptus Capital Advisors, an asset management-focused RIA and outsourced CIO serving people, small companies, trusts, estates and RIAs with about $4.25 billion underneath administration, has acquired expertise platform and back-office companies supplier LibertyFi.
Based on an announcement Thursday, the mixed agency represents greater than $20 billion in brokerage and advisory belongings and can provide a brand new turnkey choice to advisors searching for personalized expertise, funding administration and operations help. A menu of “a la carte” companies can even be made out there for integration into present tech stacks.
Each firms are primarily based in Alabama. In Birmingham, LibertyFi was serving greater than 30 companies with 178 advisors overseeing virtually $15 billion in belongings; the corporate reported that shoppers noticed a mean natural progress price of 18% in 2022—or almost 5 occasions the trade common. Aptus, on the Gulf Coast in Fairhope, has grown reportable belongings by about 3,400% since 2018.
New York Accounting Agency DSJ Introduces RIA
DSJ, an accounting agency serving the tri-state space from Lengthy Island and Manhattan places of work, has launched an affiliated RIA in collaboration with Buffalo-based Nottingham Advisors.
Led by Managing Accomplice Bob Jahelka, alongside together with his son and COO Stephen Jahelka, DSJ registered DSJ Wealth Administration with the SEC in fall 2022 after which spent the subsequent yr looking for an appropriate companion to deal with asset administration.
“We had been extraordinarily deliberate in choosing an RIA who shared our shopper centric philosophy dedicated to tax environment friendly investing methods with a longer-term horizon,” stated Stephen Jahelka, in an announcement.
In addition they wished to enter the market within the first weeks of the yr, he famous, when “it’s widespread for people to reevaluate their funds and take proactive steps to handle their monetary future.”
“We wished to make certain we had been a part of that dialog,” he stated.
The partnership with Nottingham, which oversees about $4 billion in belongings, allowed DSJ to launch with a smaller employees—at present simply two advisors—and outsource elements of the method. Going ahead, Nottingham will design personalized portfolios for DSJ shoppers whereas the RIA’s advisors concentrate on monetary planning and tax administration.
Established in 1972, DSJ contains the CPA and an advisory enterprise that gives outsourced CFO and multi-family workplace companies, succession planning, authorized help, M&A recommendation and now, a broader vary of built-in wealth administration companies.
Buckingham Buys Michigan Affiliate
St. Louis-based Buckingham Strategic Wealth is acquiring an affiliated follow within the larger Detroit space.
Wasserman Wealth Administration, a five-person staff led by Brad Wasserman, has leveraged the Buckingham Strategic Companions platform since launching in 2003 and can formally develop into part of the Focus Monetary companion when the deal closes later this quarter. On the time of its final federal submitting, in late March, Wasserman was managing $267.4 million for somewhat greater than 175 shoppers.
“Making the transfer to hitch Buckingham was the logical, pure step within the evolution of our agency,” Wasserman stated in an announcement.
Buckingham is among the many largest companies within the Focus Monetary Companions community, reporting some $24.3 billion in managed belongings on every of its ADVs. It’s anticipated to be one of some left standing after Focus’ new owners consolidate the network right into a handful of its largest companions.
Atria Pulls $420M Paragon Monetary from Osaic
Atria Wealth Options, a Lee Fairness Companions–backed household of wealth administration companies primarily based in New York Metropolis, has attracted a team of 11 in Arizona from Osaic.
With $420 million in belongings, Paragon Monetary Group is led by founder Frank Brown and is becoming a member of Atria’s hybrid RIA and dealer/supplier, Cadaret Grant, in a bid to entry higher expertise, expedite progress and “be a part of a tradition that cares,” in response to an announcement.
Launched in 2017 by former Morgan Stanley govt Doug Ketterer, Atria owns a number of subsidiaries offering brokerage and RIA companies, together with Cadaret Grant, NEXT Monetary Group, Western Worldwide Securities, SCF Securities, CUSO Monetary Providers and Sorrento Pacific Monetary. In September, it accomplished its acquisition of Kestra subsidiary Grove Level Monetary.
The agency studies round $120 billion in belongings throughout 1,700 monetary professionals.
Native Trio Joins $2B RIA Krilogy
Krilogy, a St. Louis-based RIA based in 2009 and managing about $2 billion for nearly 2,000 shoppers, onboarded three new groups and added greater than $300 million in recruited belongings in 2023.
The latest to join was an all-female trio within the St. Louis space beforehand with Six Level Monetary, which has ceased operations. Led by former Six Level companion Karen Maurer, who has stepped into the roles of companion and senior wealth supervisor at Krilogy, the staff contains Paraplanner Cindy Stewart and Wealth Providers Supervisor Lily Morley-Park.
Created by President and CEO Kent Skornia, Krilogy is concentrated on growing younger advisors and offering holistic wealth administration by means of in-house monetary planning, asset administration, tax and authorized groups. The agency has grown belongings from $20 million when it launched in 2009 to $2 billion in the present day.
Krilogy has grown organically and thru a number of acquisitions since 2016. With a concentrate on Texas and “a pair” letters of intent signed in several regional markets, Skornia stated he expects to succeed in $5 billion in belongings by early 2026.
“Good, constant progress,” he stated. “We’re not making an attempt to do 10 to 12 offers a yr; we develop organically by $400-$500 million a yr anyway, so choosing up one other $400-$500 million in acquisition and recruiting isn’t too intimidating for us. We have been doing that fairly persistently.”