Advisory M&A News – 11/25/24

Jared Copinga Joins Prime Capital Financial 

Prime Capital Financial, formerly Prime Capital Investment Advisors, announced the addition of Salt Lake City-based financial adviser Jared Copinga, who will be Prime Capital Financial’s first adviser in the region. 

Copinga joins Prime Capital Financial from Edelman Financial Engines, where he served as a director of financial planning for nearly a decade, providing personalized financial guidance to his clients.  

Copinga’s career as a financial adviser started at Waddell & Reed, before he moved to USA Financial as an independent financial adviser and principal account manager. He later worked as an investment consultant at TD Ameritrade. 

“I am privileged to join the exceptional team at Prime Capital Financial,” Copinga said in a statement. “I look forward to enhancing the services to my existing clients while opening doors to new opportunities with the support of the broader team.” 

MAG Wealth Management Acquires Ovation Wealth Advisors 

MAG Wealth Management announced its acquisition of Ovation Wealth Advisors and its subsequent rebranding to Carson Wealth. The acquisition includes Carson Group taking a 30% equity stake. 

Carson Wealth location will oversee $350 million in assets under management and be the first Carson Wealth-branded location in Minnesota. The team of eight will be led by Founder and Wealth Adviser Jeremy Willner and his son, Partner and Wealth Adviser Hayden Willner. 

“Our journey with Carson Group, from coaching to partnership and now to equity participation, demonstrates the power of aligning with a national brand,” said Jeremy Willner in a statement. “This partnership represents a pivotal moment in our firm’s journey, offering a compelling path for us to overcome growth plateaus and secure our legacy.” 

The newly formed Carson Wealth will maintain its current Minnesota locations in Paynesville, Little Falls and Minneapolis, with plans to grow the firm further. 

Summit Financial Secures $420M With 3 Minority Stakes 

Summit Financial LLC has, through affiliate Summit Growth Partners, taken strategic investments in Southeast Financial Group, Radiance Private Wealth and Silvertree Retirement Planning, bringing its total strategic investments for the year to 16. The partnerships blend upfront cash monetization with equity participation. 

These firms will gain access to Summit’s range of investment solutions and alternative investments. SEFG, Radiance and Silvertree will also benefit from Summit’s professional strategy team, which includes in-house attorneys, tax specialists, financial planning experts and investment management strategists. Additionally, SGP will offer supplemental capital to the firms.  

With these minority, non-controlling stakes, SEFG, Radiance and Silvertree will retain their original leadership and core teams, supporting continuity and autonomy. 

“The strategic integration of SEFG, Radiance, and Silvertree into the Summit family not only amplifies our nationwide footprint, but also reinforces our commitment to invest in North Carolina, Wisconsin and the Tri-State area,” Stan Gregor, CEO of Summit Financial Holdings, said in a statement.