Skip navigation
handshake-blurred.jpg gradyreese/iStock/Getty Images Plus

This Week in Wealth Management Deals

The advisor moves, mergers and acquisitions you may have missed the week of Aug. 9-13, 2021.

This week, acquisition deals featured serial acquirers CI Financial, Mariner Wealth Advisors and Wealth Enhancement Group.

CI Financial agreed to acquire Budros, Ruhlin & Roe in Columbus, Ohio, adding to its collection of firms from a study group known as Blind Squirrels. The transaction adds $3.4 billion to CI’s growing total client assets.

Mariner continued its acquisition spree—thanks to the financial backing of investors Leonard Green & Partners—with the purchase of Commonwealth Advisory Group, a $500 million firm in Pittsburgh that’s headed by Bob Lohman.

Wealth Enhancement Group scooped up $1.1 billion in client assets from its acquisition of Frank Armstrong’s Investor Solutions. WEG CEO Jeff Dekko said in the company's announcement that Investor Solutions focused WEG's presence in the Florida market, where wealth continues to migrate.

Among advisor moves, LPL Financial lured an advisor from Wells Fargo Financial Network and then helped two former Oppenheimer advisors launch Tower 68.

Below are more advisors moves and acquisitions you may have missed the week of Aug. 9, 2021.

Savant Wealth Management Acquires Treybourne Wealth Planners

Rockford, Ill.–based Savant Wealth Management agreed to purchase Martin Armbruster’s Treybourne Wealth Planners in Greenwood, Ind. Treybourne is Savant’s second Midwest acquisition and will add $321 million in AUM.

Focus Financial Partners Subacquires Legacy Wealth Partners

Through partner firm The Colony Group, Focus Financial Partners agreed to acquire Legacy Wealth Planning in Calabasas, Calif. Legacy was founded in 2001 by Brad Levin and manages $227 million in AUM.

Ameriprise Financial Adds $450M to Branch Channel

Ameriprise Financial recruited two advisors to its branches. Marc Gendell in Atlanta joined Ameriprise from UBS where he managed $285 million in AUM. Chris Thompson in Jacksonville, Fla., joined from Wells Fargo Advisors, where he advised $157 million in client assets.

Advisor Neal Watson Sheds One RIA for Another

Neal Watson, formerly with Fleming Watson Financial Advisors in Marietta, Ohio, joined Advisor Group. He brought his $110 million in client assets to Advisor Group’s subsidiary broker Securities America. Watson is registered with Arbor Point Advisors, an RIA subsidiary of Securities America, and will affiliate with Commonwealth Financial Services.

Manhattan West Recruits From EP Wealth

Tyler Robuck exited the RIA EP Wealth where he served as vice president and advised nearly $100 million in AUM to be partner at Manhattan West, an advisory firm started by former JP Morgan breakaway Lorenzo Esparza.

Former Avantax Advisor Launches RIA

Alan Thompson, formerly with Avantax Wealth Management, Blucora’s independent wealth management firm, relaunched his Wilmington, N.C., firm, Dominion Wealth Management, as an RIA. The new advisory firm includes partners Greg Adams and Webster Burrier IV, the self-proclaimed youngest RIA founder in North Carolina. Dominion, originally established in 2008, manages $50 million in AUM.

Arkadios Capital Adds Redwood City RIA Personal Portfolio

Personal Portfolio in Redwood City, Calif., moved its assets to Arkadios Capital. The firm is headed by John McKee and manages $300 million in AUM.

TAGS: People
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.