Skip navigation
This Week in Wealth Management Deals Digital Vision./ Thinkstock

This Week in Wealth Management Deals

The advisor moves and acquisitions you may have missed the week of July 26-30, 2021.

The last week of July saw continuation of action in deals in the wealth management space.

Concurrent Advisors, a super office of supervisory jurisdiction for Raymond James Financial Services, took growth capital from Merchant Investment Management to help it take minority, noncontrolling interest in its partner firms. 

Nate Lenz, founding partner at Concurrent, said, “Through that structure, they take on an investment from Merchant and Concurrent; from there they still maintain full operational control.”

Hightower reemerged to tout its latest deal: Farr, Miller & Washington, an RIA headed and founded by CNBC contributor Michael Farr. Hightower will gain $2 billion in assets under management and three office locations in the transaction, boosting its total AUM to over $100 billion.

Mariner Wealth Advisors followed up last week’s acquisition announcement of AdvicePeriod with news that it was buying Channel Islands Group in California. The new firm manages $277 million in client assets. The deal is expected to close in August.

Raymond James Financial Services revved up its M&A in the U.K. with the acquisition of a 200-year-old publicly traded firm, Charles Stanley, to increase its British footprint by 200 advisors and $37.9 billion in client assets.  

Below are more deals you may have missed the week of July 26, 2021.



New Mountain Takes Minority Stake in Homrich Berg

Homrich Berg, an Atlanta-based RIA managing $10 billion in AUM, took an investment from New Mountain Strategic Equity I, LP, an affiliate of private equity firm New Mountain Capital. The capital raise supports ownership succession, business development and talent acquisition at the firm.  

Insigneo Hires Former Merrill Lynch Advisor

Miami-based wealth management firm Insigneo recruited advisor Jorge Sonville as a managing director in Miami. Previously, Sonville worked for Merrill Lynch, spending 27 years with the firm, and having overseen approximately $2 billion in assets under management.

Goss Advisors Adds 14 New Advisors

Goss Advisors, an RIA based in New Orleans that manages $9.5 billion, recruited 14 advisors across seven states, including New York, Ohio, Minnesota, New Jersey, Kansas and Illinois. 

Truist Investment Services Loses Team to LPL’s Linsco

Advisors Kyle Smith and Michael Sandlin joined LPL Financial through its employee advisor model, Linsco. Smith and Sandlin joined from Truist Investment Services, previously known as BB&T Scott & Stringfellow, where it managed $740 million.

Ameriprise Lures Kim Latimer From Merrill Lynch

Ameriprise Financial hired Kim Latimer, a former Merrill Lynch financial advisor in Houston. Latimer managed $211 million in client assets at the wirehouse. 

Jason White Moves to Carson Partners

Jason White, CEO and senior advisor of Dynamic Legacy Planning in Greenfield, Ind., joined Carson Partners as a network firm. White’s five-person team manages $55 million in AUM.

TAGS: Industry
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.