Advisory M&A

Americana Partners Snags Morgan Stanley Advisory to Drive Focus on Oil and Gas Families

Americana Partners LLC has added a $715 million advisory based in Midland, Texas to drive growth among families with oil and gas wealth.

Houston-based Americana has brought on Phillip Knight, Amy Lawler, Charles Bailey and J. Tom Snelson from Morgan Stanley. Previously known as the Fidelis Wealth Management Group, the team has joined Americana to drive the creation of a new Permian Basin office in Midland, Texas.

“While other large firms shy away from the oil and gas industry, we are a Texas-based firm that recognizes the Permian Basin’s importance to our economy and national security,” Jason Fertitta, CEO and partner of Americana Partners, said in a statement. “We know that the oil and gas industry will fuel this country’s growth far into the future, and we are excited about working with Phillip and his team to deliver a unique set of services that we offer as a fiduciary firm.”

Houston-based Americana Partners is an independent RIA with $6 billion in assets under management. Dynasty Financial Partners LLC acted as an exclusive adviser to Americana Partners on this transaction.

Integrated Partners Adds $2.25 Billion RIA Laurel Wealth Advisors

Integrated Partners, a national financial planning and registered investment advisory firm, has acquired Laurel Wealth Advisors, a California-based independent advisory firm with a holistic planning approach to financial advice.

Laurel Wealth was founded in 2011 by Lee Tripodi and Mark Welsh. The firm grew to 30 advisers overseeing more than $2.25 billion in assets and recently started to look toward scaling further, according to the La Jolla, California-based advisory.

“As we began conducting due diligence to identify potential partners, we were determined to identify a firm that would value our ethos and entrepreneurial spirit,” Tripodi, a co-founder of Laurel, said in a statement. “It quickly became clear that Integrated’s significant track record of accelerating advisers’ organic growth would provide an immediate lift, while enabling us to preserve the special culture we have built here at Laurel.”

Integrated offers advisory firms a variety of ways to accelerate growth, including minority and majority acquisition, revenue sharing and affiliation models. RIAs also get access to Integrated’s resources, which include technology, investment management, advanced planning, marketing support, succession planning and comprehensive business counsel.

Integrated found Laurel to be a strong fit because of the firm’s holistic planning focus, cultural alignment and prior broker-dealer experience, according to the Boston-based firm.

Hub Acquires Louisiana-Based Insurance, Employee Benefits Firm

Hub International Limited, a global insurance brokerage and financial services firm, has acquired the assets of Dwight W. Andrus Insurance Inc., Dwight Andrus & Richard Insurance Inc. and DAI Shreve LLC. Chicago-based Hub did not disclose terms of the transaction.

Dwight Andrus Insurance is headquartered in Lafayette, Louisiana, with six other locations in the state and 130 employees. The firm provides commercial insurance, surety and bonding, captive and alternative risk insurance, personal insurance and employee benefits.

“Joining Hub is a great move for Dwight Andrus Insurance – its employees, clients and community,” Dwight Andrus IV, CEO and president of Dwight Andrus Insurance, said in a statement. “We will continue operating in the way that has made us successful, while having access to the benefits, tools and resources that come with the fifth largest global broker.”

The firm’s leadership, including Dwight Andrus IV, Dwight Andrus III, David Andrus and Charlie Babineaux, and the Dwight Andrus Insurance team will join Hub Gulf South. 

“With the addition of Dwight Andrus Insurance, we double our commercial insurance presence in the region, while adding a significant sales force concentrated in the western half of our state,” Shaun Norris, president of Hub Gulf South, said in a statement. “This transaction represents one of the largest of its kind in Louisiana.”

Stratos Expands Stake in First Wealth After Passing of Breton Williams

Stratos Wealth Partners Ltd., a registered investment adviser of Stratos Wealth Holdings, has expanded its ownership in First Wealth Financial Group to a majority stake after the passing of founder and CEO Breton Williams. 

In partnership with minority owner Andrew Meyers, the owner and leadership transition are effective immediately, with no impact to the firm’s operations, according to Stratos. As part of the transition, Meyers has been named president of the wealth management firm after the unexpected passing of Williams.

“Breton was a well-respected member of the wealth management community in Iowa, who cared deeply about the well-being of his clients and community, and will be sorely missed,” Charles Shapiro, founding partner and chief development officer of Stratos, said in a statement. “We are honored to build on his legacy alongside Andrew and the First Wealth team, providing an exceptional client experience and growing the firm.”

First Wealth serves more than $348 million in combined client brokerage and advisory assets through investment management, retirement, estate, pension and tax planning. Stratos has been a non-ownership partner in the firm for the past eight years as the firm expanded to six advisers in four locations.

Beachwood, Ohio-based Stratos manages more than $9.6 billion in advisory assets and advises through LPL Financial more than $6.9 billion in brokerage and third-party-managed assets for a total of $16.5 billion, as of December 31, 2022.