Advisory Companies Community, which rounded $7 billion in belongings in 2024, simply added two extra groups, whereas Avantax picked up a pair in Texas and SageView Advisory Group expanded its management crew.
In earlier reported information, Kestra scooped up a $600M agency in NYC, a California CPA agency launched a wealth administration division in partnership with Built-in, Wealth Enhancement Group is nearing $80 billion in belongings and former State Avenue and JPMorgan execs opened up store on the Mariner platform.
In associated information, a brand new Dynasty/F2 Technique examine discovered partnered independence might supply higher monetary outcomes for companies with lower than $2 billion in AUM.
Advisory Companies Community Provides Groups in Florida, Kentucky
Atlanta-based Advisory Companies Community, a platform supporting small, impartial RIAs, has surpassed $7 billion in belongings and added three companies in 2024.
Most just lately, the platform supported the launch of The Bruce Wealth Group in Vero Seaside, Fla., a $35 million agency helmed by Nicholas Bruce, a CFP and property legal professional who spent greater than three years at UBS.
ASN additionally welcomed ACUITY Wealth Administration, in Lexington, Ken., an impartial, three-person crew led by CEO Nathan Slyh, alongside along with his companion and CPA Tammy Farley, that oversees about $100 million in shopper belongings.
Earlier this yr, ASN helped to launch Ohio Valley Wealth Administration, a trio in West Virginia overseeing $130 million. Led by Scott Molina, a former financial institution advisor, Ohio Valley provides portfolio administration, retirement and property planning, monetary training sources, philanthropic companies and small enterprise assist.
“There are lots of the explanation why we selected to work with Advisory Companies Community,” Molina shared with WealthManagement.com. “We had been seeking to embrace independence with out the confines of contracts, as I firmly consider these agreements don’t serve one of the best pursuits of our shoppers. I used to be additionally seeking to craft my very own methodology that may foster collaboration and assist amongst advisors.”
“We’re seeing a big uptick within the variety of advisors who’re in search of a path to independence,” stated ASN co-founder, co-owner and Managing Accomplice Tom Prescott. “The ASN pipeline isn’t just robust; it is thriving. We’re at the moment engaged on 10 transitions that characterize roughly $750 million of AUM, with the expectation that quite a lot of further advisors at the moment in our pipeline will likely be becoming a member of ASN over the approaching months.”
With greater than 135 advisory practices on its platform, and over 200 advisors, ASN is targeted on growing advertising instruments and sources, upgrading its expertise and supporting succession planning amongst its companion companies in 2024, based on Prescott.
Avantax Provides Former Edward Jones Couple Managing $250M
Avantax, a Dallas-based, tax-focused wealth administration agency owned by Cetera, picked up a Texas couple managing $250 million in belongings.
Half an hour south of Austin, Heidi and Nicholas Irving made the transfer to Avantax affiliate Alliance Wealth Methods from Edward Jones, the place Heidi spent 9 years after becoming a member of her father’s apply. Nicholas joined the household enterprise in 2020.
They made the transfer for extra flexibility and entry to skilled sources, based on an announcement.
“We’re wanting ahead to having extra in-depth, tax-focused monetary planning conversations with shoppers,” Heidi Irwin stated in an announcement. “I used to be so impressed throughout our Avantax House Workplace Go to as a result of it wasn’t just some representatives, we met with the heads of departments and felt like we had been already receiving a number of care from every individual we talked with.”
“A part of this transfer is so we are able to companion with others within the Avantax neighborhood, together with CPAs, as a result of backed by all that experience, even complicated instances change into simpler conversations to have with shoppers,” added Nic Irwin. “I’ll have entry to extra funding instruments and analytical sources, and that frees up Heidi to do what she does greatest, which is sitting down with shoppers and doing the deep and holistic monetary planning.”
Bought and brought personal by Cetera Holdings for $1.2 billion within the fall, Avantax has remained a separate unit throughout the Cetera ecosystem. Encompassing two RIAs and a dealer/vendor, the unit oversees near $93 billion in shopper belongings throughout its W-2 and 1099 platforms.
SageView Expands C-Suite
SageView Advisory Group, a retirement-focused RIA based mostly in Newport Seaside, Calif., and managing $156.4 billion, employed a brand new chief of finance and created a brand new function in assist of ongoing development.
Christina Walsh, a principal at SageView’s personal fairness proprietor Aquiline Capital Companions, succeeds Tony Nottermann as CFO. Previous to becoming a member of Aquiline, she was a vp at Focus Monetary for a couple of yr, following three with funding banking agency Evercore.
Steve Gaven, most just lately CFO for RWA Wealth Companions, joins SageView within the newly created function of chief development officer. Earlier than RWA, he spent greater than 14 years with Boston Personal, and greater than 4 as CFO.
Each report on to SageView CEO John Longley.
SageView stories serving near 2,000 plan sponsors and has a rising wealth administration enterprise. The agency has accomplished 10 acquisitions since partnering with Aquiline in 2021
“We’re enthusiastic about all we are able to accomplish with Steve and Christina on our C-suite crew as we proceed to drive success for our retirement plan enterprise whereas considerably accelerating the growth of our wealth administration enterprise, together with by a sturdy tempo of considerate acquisitions,” Longley stated in an announcement.
