This week, Prime Capital Financial acquired a Texas-based tax advisory firm to launch a new division, while VestGen Wealth Partners bolstered its retirement division by acquiring a former Osaic team. AlphaCore Wealth Advisory acquired a $1.5 billion RIA, and Concurrent brought on a $1.3 billion team from Raymond James.
Kestra Private Wealth Services in Austin, Texas, recruited a large team from Bank of America’s Merrill to join its platform. David Barnett and Ashley Ament lead the team launching Ascend Private Wealth Partners, offering services from investment management to tax planning.
Cetera Financial Group welcomed advisor Frank Mezzanotte and his $126 million FDM Wealth Management practice to its Cetera Financial Institutions division. As of June 30, Cetera firms manage over $590 billion in assets under administration and $263 billion in assets under management.
Hinck Private Wealth Management, a Florida-based advisory team, moved to Osaic’s independent advisor channel for technology and capabilities, avoiding LPL’s self-custody platform requirement. Osaic has seen success in attracting Commonwealth teams after recent advisor attrition.
Certuity expanded its institutional wealth practice by hiring Giuliano Celle as managing director and head of institutional wealth. Celle aims to strengthen access to private market opportunities and deepen relationships with client families, based in New York.
Creative Planning acquired Financial Abundance, a Pennsylvania-based RIA with over $275 million in AUM, led by founder Paul Nichols. Nichols praised Creative Planning’s resources and national footprint, enhancing their ability to provide peace of mind to clients.
Raymond James added four financial advisors from LPL Financial’s Commonwealth Financial Network to its corporate RIA model, managing about $357 million in client assets. The advisors will operate as KCH Financial based in Bethalto, Ill., benefiting from Raymond James’ client-first culture and resources for future growth.
Read more at Yahoo Finance: Kestra Gets $866M Merrill Breakaway