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Wealth Management Deals of the Week

A succinct roundup of the major M&A announcements for the first week of February.

January was another record deal for mergers and acquisitions, according to DeVoe & Company’s RIA Deal Book Alert for January. There were 29 total transactions, nearly double January 2020’s figures.

February may continue the M&A trend. In this week alone, there were several acquisition announcements. Cerity Partners bought Bainco International Investors, boosting its assets under management to $28 billion. Then Stifel announced it lured a Merrill team that managed $1.35 billion in AUM. Captrust returned with another acquisition announcement. It acquired Genovese Burford & Brothers, a Northern Californian team that manages $3 billion in client assets. And Creative Planning acquired a $6 billion retirement division from Iron Financial, its first M&A announcement for the new year.

Below are more deals along with firm-to-firm advisor moves announced for this week:

Tiger Blackwell Joins LPL Financial from Stifel, Nicolaus & Company

Tiger Blackwell, founder of Blackwell Money Management in Baton Rouge, La., managed approximately $100 million at Stifel before moving to LPL’s newly launched independent employee model.

J.P. Morgan Loses Executive Director Dixon Hayes to Simon Quick Advisors

Simon Quick Advisors, an independent wealth management firm in Morristown, N.J., recruited Dixon Hayes as its managing director and client advisor. Hayes, a 16-year industry veteran, joined Simon Quick Advisors from J.P. Morgan’s private bank division where he managed a team that advised individuals and family offices.  

Simon Quick Advisors manages $3.4 billion in client assets.

Raymond James Recruits $375 Million New Jersey Team from Merrill Lynch

Merrill Lynch lost another team. Topinka Financial, based in Wayne, N.J., joined Raymond James’ independent advisor channel. Advisors Michael Topinka, Carl Boomhower and Daniel Tyburski make up Topinka Financial and collectively managed $375 millions in clients assets at Bank of America Merrill Lynch.

Robertson Stephens Recruits $200 Million in AUM Advisor Christopher Knapp

The CEO and founder of Collaboration Capital has joined the ranks at Robertson Stephens, an RIA headquartered in San Francisco, Calif., as another managing director and principal. Knapp brought his new firm $200 million in AUM, increasing the firm’s total AUM to $1.9 billion. He also opened an office in Houston, Tex., which expands the Robertson Stephens’ reach.

NFP Acquires Pension Advisors

Insurance broker NFP announced Monday it acquired Pension Solution, Inc., also known as Pension Advisors, a retirement consultant and wealth advisors firm located in Cleveland, Ohio.

M&A consulting firm Wise Rhino Group advised Pension Advisors in the transaction.

The Mather Group Acquires Trinity Financial Advisors

National boutique firm The Mather Group has acquired $187 million in AUM firm Trinity Financial Advisors, according to a Tuesday announcement. Both firms are based in Chicago. 

The Mather Group is a family and employee-owned firm managing $5.6 billion in client assets with additional offices in Atlanta, Austin, Dallas, Houston, Knoxville, Philadelphia and the San Francisco Bay Area.

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