The IBD, now called Grove Point Financial, hopes a new brand, tech platform and an IAR-only business model will help ramp up recruiting.

This marks CI’s 15th deal since entering the U.S. RIA market in January 2020, bringing its total U.S. assets to about $50 billion.

Cetera Advisors gets into the M&A game, buying its first RIA from another Genstar Capital–backed firm, Ascensus.

CEO Rudy Adolf said the firm has $1 billion in firepower as it looks to expand its global footprint through Connectus, its new in-house shared services model.

“If we do that well for LPL advisors, then we could easily take that to an advisor that doesn’t necessarily sit on our platform today,” CEO Dan Arnold said.

The acquisition brings Captrust a larger presence in Northern California and continues its strategy of combining retirement plan services with wealth planning.

Raymond James Chairman and CEO Paul Reilly says the pace reflects higher competition for talent, especially in the employee channel.

SCF Securities would add $4 billion in assets under administration and about 150 advisors to Atria Wealth Solutions’ platform.

Hightower has already made two acquisitions of firms sitting at independent broker/dealers, and CEO Bob Oros expects it to be an area of growth for the firm going forward.