This Week's Wealth Management M&A Deals

This post was originally published on this site

Decennial winter snowstorms in the South took up much of the news this week. Advisor workflow in places like Texas was interrupted by forced blackouts that left millions without power, heat and, in some cases, running water. A couple of advisors shared their ordeal with WealthManagement.com

While some advisors tended to their wintery troubles, merger and acquisition deals continued on. Focus Financial announced it has $1 billion reserved for global expansion through its partner firm, Connectus. Two Illinois firms, Professional Wealth Advisors and HighPoint Planning Partners, have merged to form an $8.5 billion in AUM firm

Below are more deals along with firm-to-firm advisor moves announced for this week:

Baird Adds The Willowpointe Group

International wealth and investment management firm Baird announced that The Willowpointe Group has joined its network. Willowpointe joins from UBS where it managed $270 million in AUM. The five-person team led by Lawrence Taylor, director and financial advisor, and Steve Books, senior vice president and financial advisor, will work from a new branch in Cookeville, Tenn.

LPL Financial Recruits Foran Financial Group

Foran Financial Group, a $350 million AUM team in Somerville, N.J., joined LPL Financial from Raymond James Financial Services, according to an announcement.

The Berry Group Merges with Moneta

The Berry Group, based in Worcester, Mass., is set to merge its principals and clients with Moneta, a partner-owned registered investment advisor headquartered in St. Louis that manages $20 billion in AUM. The Berry Group manages $625 million and was with Wells Fargo Advisors before it launched as an RIA in 2019. The firm will act Moneta’s Northeast presence, adding to its footprints in Denver and Kansas City.

Raymond James Nabs a $1.06B AUM Firm

Eight financial advisors in Parkersburg, W.Va. left Wells Fargo Advisors for Raymond James Financial Services. The team managed $1.06 billion at Wells, catering to business owners, corporate executives, families and individuals, family offices, healthcare professionals and retirees. 

The Richeda and Farr Group Joines Rockefeller’s Private Wealth Management

Advisors Matthew Richeda and Christopher Farr of The Richeda and Farr Group joined the private wealth management division of Rockefeller Capital Management from Merrill Lynch. The Denver-based firm will be Rockefeller’s first Colorado office.