Advisory M&A

Former Securian Financial Services Advisers Join Capitol Financial Solutions

Advisor Group announced that John Amendola, Eric Owen, Michael Pugh and Steve Tanner have joined Capitol Financial Solutions, one of the largest groups affiliated with Royal Alliance.

The four former Securian Financial Services advisers from Virginia and North Carolina bring $410 million in client assets to the Advisor Group network.

“Our decision to partner with Capitol Financial Solutions was driven by our focus on providing the best possible service experience for our clients,” said Tanner in a statement. “Capitol Financial Solutions has access to industry-leading software, powerful in-house marketing and practice management support, and a strong, compatible culture.”

Also Encore Financial Group Joins Advisor Group

Advisor Group announced the affiliation of Encore Financial Group of Cheboygan, Michigan, through Savage and Associates, one of Advisor Group’s largest groups.

Founded in 2004 by CEO Dennis Hesselink, Encore has 14 financial advisers located in offices in Florida, Michigan, Pennsylvania and Tennessee. The firm brings more than $340 million in client assets to the Advisor Group network.

“We are excited about what the future holds and the impact we can have on our community with the support, technology and expertise of both Savage and Advisor Group,” said Hesselink in a statement.

Hightower Makes Strategic Investment in Presidio Wealth Partners, Meyer Capital Group

Hightower announced it has partnered with and made a strategic investment in Presidio Wealth Partners, a newly formed Houston -based wealth management firm that oversees approximately $1.6 billion in AUM.

The firm is led by founding partners Cy Cattan, Scott Bishop, Robert Harris and Sarahbeth Pipkin, who left Avidian Wealth Partners to start the new company. According to a statement, the Presidio team was attracted to the opportunity to expand the private market investments offering for clients through support from Hightower’s experienced investment solutions team.

Additionally, Hightower announced it has made a strategic investment in Meyer Capital Group, a $1.6 billion firm with offices in Marlton, New Jersey, and Naples, Florida. With 17 employees, including 10 advisers, Meyer Capital Group serves more than 800 clients.

“Hightower is the right fit for us,” said CEO Tom Meyer in a statement. “Having access to their value-added services, operational resources and large community of other like-minded firms will serve as a catalyst for our accelerated growth.”

Ronin Wealth Management Joins Cetera Advisors

Cetera Financial Group announced that the advisers of Ronin Wealth Management have joined Cetera Advisors. Marshall Thomas and Travis Venable were previously affiliated with LPL Financial and oversee approximately $75 million in assets for high-net-worth clients, as of May 31.

“We are encouraged by Cetera’s customizable platform and feel Ronin will thrive at a more boutique-style firm that delivers industry-leading resources and support,” Thomas said in a statement.

“Ronin’s refreshing philosophy, coupled with Marshall’s history of entrepreneurship and Travis’ strength in advisory operation services, makes this firm an ideal fit with Cetera Advisors,” Brett Harrison, president of Cetera Advisors, said in a statement.

Sowell Management Acquires Northwest Arkansas Adviser Team

Sowell Management, a North Little Rock, Arkansas-based registered investment adviser, is expanding its state-wide presence with the acquisition of Sector Grid Advisors, an independent financial advisory team based in Rogers, Arkansas.

The acquisition brings an additional $120 million in assets and two seasoned advisers, Bob Taylor and Tonya McKaughan, under Sowell Management’s RIA umbrella.

“The northwest part of the state is anchored by national and worldwide companies like Tyson Foods, J.B. Hunt and Walmart, as well as exploding with small businesses and new population. We felt the time was right to make a boots-on-the-ground commitment,” Bill Sowell, the founder and CEO of Sowell Management, said in a statement.

Waverly Advisors Acquires Silicon Hills Wealth Management

Waverly Advisors LLC acquired Silicon Hills Wealth Management, based in Austin, Texas. Silicon Hills was co-founded by Tom Brown and James Werner in 2013 as a service-oriented wealth management firm.

Since 2021, Waverly has extended its regional footprint across the Southeast. This partnership is Waverly’s first in the Southwest region.

“As we continue to expand into new markets beyond the Southeast, we believe Tom and his team are the perfect fit to establish Waverly’s presence in Texas,” Josh Reidinger, CEO of Waverly, said in a statement. “Silicon Hills brings a fresh perspective to innovation and technology.”