Advisory M&A News – 11/11/24

Wealth Enhancement Group Announces Acquisition of M&R Capital Management

Wealth Enhancement Group LLC, a national independent wealth management firm with more than $96.6 billion in client assets, announced the acquisition of M&R Capital Management Inc., an independent registered investment adviser in Summit, New Jersey.

The team of three financial advisers and three support staff oversees more than $536 million in client assets and is led by John Maloney, chairman and CEO.

M&R Capital Management, founded in 1993, offers customized financial solutions, including investment management, separate account management and retirement planning. The team has specific experience working with high-net-worth individuals, pilots, business owners and nonprofit organizations.

“Through our partnership, they can access our extended suite of central services and free up more time to invest in strengthening client relationships and growing their practice,” Jeff Dekko, CEO of Wealth Enhancement Group, said in a statement.

Aspen Standard Wealth Acquires $2.8B AUM Summitry

Aspen Standard Wealth announced it has acquired Summitry, an RIA with $2.8 billion in assets under management. Summitry, based in the San Francisco Bay Area, provides personalized financial planning and investment strategies.

Summitry offers access to a wide range of institutional grade investing and advisory services, including in-depth financial planning, retirement planning, estate and trust services and equity compensation advice.

“When I met the team at Aspen, it was clear that they were different,” Colin Higgins, Summitry’s CEO, said in a statement. “They take a long-term view of everything they do. They care about growing our people, continuing to build on top of the foundation that our team has built, and helping us deliver more for our clients.”

Kestra Private Wealth and Riverside Private Wealth Welcome New Adviser

Kestra Private Wealth Services, an RIA subsidiary of Kestra Financial Inc., welcomed Worth Trainor to its group of independent financial professionals. The agreement with Trainor was made in partnership with Stuart, Florida-based Riverside Private Wealth Management (formerly Sade Group Private Wealth Management), which joined the Kestra network in 2015.

Riverside is led by Founder and Managing Director Scott Sade and provides comprehensive financial services to a diverse range of families and businesses. In addition to Trainor and Sade, the firm includes Portfolio Manager Jody Zirn and Office Manager Robin Miley.

Trainor joins Riverside as a managing partner and will also be based in Stuart, Florida. Collectively, Trainor and Sade oversee more than $300 million in assets under management. Previously, Trainor served 10 years as a senior vice president at UBS.