Advisory M&A News – 8/12/24

Cetera’s Retirement Planning Acquires $180M Watters

Cetera Holdings’ The Retirement Planning Group, an employee-based registered investment advisory, has acquired Watters Financial Services.

The addition will bring on father Tim and son Colin Watters to TRPG, offering wealth management services to 130 clients representing about $180 million in assets.

“As we contemplated the future of our business, we knew we wanted to increase our focus on what matters most: serving our clients,” Tim Watters said in a statement. “Joining Kevin and the TRPG team has empowered this shift by alleviating many of the time consuming and cumbersome burdens of operating a financial planning business.”

The acquisition marks the third for TRPG since being acquired by Cetera in May 2023. The firm acquired Dightman Capital Group in February 2024 and Lee Financial Group Hawaii in June 2024. After the acquisitions, TRPG oversees more than $2 billion in assets.

Carson Group Adds Shane Hall Financial

The Carson Group announced that Shane Hall Financial has joined its advisory network of more than 150 partnered firms.

Amarillo, Texas-based Shane Hall Financial specializes in retirement income planning and financial planning services, as led by Shane Hall, its founder. The firm manages $169 million in assets and, through the Carson partnership, will be able to access new ,services including tax, trust and estate planning, while collaborating closely with Carson’s investments team.

In the announcement, Hall noted previous challenges that had hindered the firm’s growth.

“Carson Group’s robust infrastructure and technology capabilities will provide us with the tools necessary to scale our business effectively,” he said in a statement.

Shane Hall Financial will remain independent and retain its name.

Equita Financial Adds 3 Firms to Platform

Equita Financial Network has added three firms to its business platform for women-led and independently-owned financial planning firms.

The firms that have joined are: Mountain Wealth Planning, led by Amy Hamasaki; Equila Financial, led by Ann Shubert; and Your Story Financial, led by Shehera Wooten.

The firms are full-service fiduciary financial advisory firms that integrate financial planning, investment management and coaching for small business owners, professional women, STEM professionals and the LGBTQIA+ community.

“This great momentum for Equita reflects a positive trend in the industry, and increases the professional support available to those who have historically been underserved by traditional financial services firms,” said Bridget Venus Grimes, co-founder of Equita, in a statement.

Equita is a registered investment advisory that offers a platform for advisers with tools to run a financial planning and investment management firm.