Advisory M&A News – 2/26/24

The Retirement Planning Group Acquires Dightman Capital Group

Cetera Holdings announced that The Retirement Planning Group LLC has acquired Dightman Capital Group Inc., a registered investment adviser based in Overland Park, Kansas. TRPG, which has offices in Leawood, Kansas and both Chesterfield and Springfield in Missouri, has acquired 100% of the assets of Dightman Capital Group, owned and operated by Brian Dightman. 

“I closely evaluated and considered nearly two dozen options and firms across the country,” Dightman said in a statement. “From the moment I met Kevin and his team, I knew this was the right fit.”

Dightman is now a W-2 adviser at TRPG, which will provide him with office support, technology, marketing, insurance and employee benefits as he continues to serve his existing clients.

“This acquisition represents a continuation of TRPG’s successful M&A strategy, and the first of more to come with the support of Cetera,” Kevin Conard, TRPG’s CEO, said in a statement. In May 2023, Cetera Holdings acquired TRPG, which oversees approximately $1.8 billion in assets as of January 31.

Marsh McLennan Agency to Acquire Querbes & Nelson and Louisiana Companies

Marsh McLennan Agency announced that it signed agreements to acquire two Louisiana-based middle-market agencies, Querbes & Nelson and Louisiana Companies, doubling the firm’s presence in the state.

Based in Shreveport, Q&N was founded in 1914 and offers business insurance, employee benefits and alternative risk financing consulting to a variety of businesses, with specific expertise in energy services, commercial contractors and transportation.

Based in Baton Rouge, Louisiana Companies was founded in 1890 and provides business and personal lines of insurance to businesses and individuals with specific expertise serving the construction, manufacturing, distributor, health care and hospitality industries.

“Louisiana is home to a diverse and resilient economy that these two organizations will help us serve with impactful solutions to minimize risk,” said Matt Stadler, CEO of MMA’s Southwest region, in a statement.

Stratos Wealth Partners Welcomes Pettinelli Financial Partners of California

Stratos Wealth Partners Ltd. announced it has successfully recruited Pettinelli Financial Partners of Redwood City, California, which brings $700 million in total client assets.

Founder and Firm Ambassador Dennis Pettinelli, President Jon Pettinelli and their team of 20, which includes advisers and support members, will join Stratos. The firm was formerly affiliated with Osaic’s Royal Alliance.

Dennis Pettinelli launched Pettinelli Financial Partners after a long career at John Hancock. Jon Pettinelli joined the firm in 2001, became the director of operations in 2005 and president in 2020. Stratos will help complete Pettinelli Financial Partners’ transition of its leadership from Dennis to a management team led by Jon.

“Dennis, Jon and their team have built an incredible business helping multi-generational clients achieve financial goals and preserve wealth for future generations,” said Charles Shapiro, a Stratos founding partner, in a statement. “We look forward to supporting their needs in practice management, recruiting and investment management strategies.”