Advisory M&A News – 10/28/24

Arthur J. Gallagher & Co. Acquires Redington Ltd.

Arthur J. Gallagher & Co. announced the acquisition of London-based Redington Ltd., an investment consulting firm providing comprehensive investment, research and technology services to pension funds, wealth managers and institutional investor clients, primarily in the U.K.

Redington CEO Sylvia Pozezanac and her team will remain in London under the guidance of David Piltz, head of Gallagher’s U.K. employee benefits and HR consulting operations.

“As a leader in the investment consulting space, Redington brings exceptional talent and represents a fantastic cultural fit,” J. Patrick Gallagher Jr., Gallagher chairman and CEO, said in a statement. “Their deep capabilities in modeling and investment market research will enhance our existing consulting services and help our clients achieve superior financial security outcomes.”

Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides services in approximately 130 countries around the world througowned operations and a network of correspondent brokers and consultants.

Hyperion Partners Joins MAI Capital Management

MAI Capital Management LLC, a registered investment adviser specializing in investment and financial planning for high-net-worth individuals and families, announced the acquisition of Hyperion Partners.

Hyperion is an advisory firm primarily serving businesses and high-net-worth individuals. Founded by Jeffrey Leber and Vaughn Schill in 2018, the firm had $528.8 million in client assets under management as of September 30.

“Jeff, Vaughn, and the full Hyperion team provide high quality service and advice for their clients across a wide net of capabilities from tax and estate planning to business strategies,” Patrick Gingras, market leader and regional president at MAI, said in a statement. “We look forward to providing them with our full suite of resources and support so they can continue to enhance and grow their business.”

Hyperion will adopt MAI’s brand identity, HR, operations and marketing resources. As part of MAI, Leber and Schill will both take on the title of regional president.

Modern Wealth Management Acquires RIA Petso Financial

Modern Wealth Management LLC, a registered investment advisory firm founded to meet the evolving needs of financial professionals and their clients, announced the acquisition of Boise, Idaho-based Petso Financial Consultants LLC, a fee-only financial advisory firm with approximately $1.4 billion in assets under management.

This transaction is Modern Wealth’s 11th acquisition to date and its sixth of the year, bringing its total AUM to more than $6 billion.

Founded in 2001 by David Petso, Petso Financial provides holistic wealth management and financial planning services. Petso Financial’s client experience includes investment management, financial planning, estate planning and retirement income planning for both individuals and corporate clients.

“Joining Modern Wealth presented a unique opportunity that aligned well with Petso’s rapid client growth,” said Petso, who joins Modern Wealth as a managing director, said in a statement. “It wasn’t about stepping into a plug-and-play firm; it was about joining a dynamic, fast-growing team where we could be an integral part of the journey.”

Waverly Advisors Acquires 9258 Wealth Management

Waverly Advisors LLC, a federally registered investment adviser specializing in investment management, financial planning and wealth management solutions for high-net-worth individuals, corporate retirement plans and institutional clients, has acquired 9258 Wealth Management LLC, an investment advisory firm and tax preparation and planning business headquartered in Cincinnati.

The partnership adds three Ohio-based office locations to Waverly’s growing footprint and $1 billion in assets under management.

Walt Lunsford founded 9258 in 2017 and, prior to that, spent 13 years as a managing director and senior vice president at a multinational financial services company. He is the president and sole owner of the firm and brings a team of 24 professionals to Waverly. Walt will serve as a partner, wealth adviser and regional director at Waverly.

“Partnering with 9258 brings a wealth of benefits to both firms,” Justin Russell, president of Waverly, said in a statement. “Not only do we expand our reach into another new market, but we acquire new lines of service and expertise, while providing greater resources and infrastructure to 9258’s existing clients.”