Advisory M&A News – 12/3/2025

Creative Planning Adds Burt Wealth Advisors

Creative Planning LLC announced on Tuesday the addition of Burt Wealth Advisors, which brings $1 billion in assets under management.

Burt Wealth has served the community in North Bethesda, Maryland, since 1985, providing clients with tax reduction strategies; education funding; and estate, business and retirement planning.

Creative Planning and its affiliates had more than $390 billion in combined assets under management as of September 30. 

Sequoia Financial Group Expands in California With Sterling Financial Group

Sequoia Financial Group LLC announced on Tuesday its acquisition of Sterling Financial Group LLC, an independent registered investment advisory firm based in Pasadena, California.

Sterling Financial has provided investment advisory services to individuals, multi-generational families and small businesses in Pasadena since 1998. The firm has 200 clients in more than a dozen states and $406 million in assets under management as of September 30.

Michael Hatch, Sterling Financial’s owner and managing principal, and Kody Brown, financial adviser and principal, are now equity owners in Sequoia Financial. 

Tom Haught, chairman, CEO and president of Sequoia Financial, said in the announcement that the acquisition gives Sequoia Financial, based in Akron, Ohio, “a stronger foothold into California.”

Sequoia Financial supports more than 11,500 client households and has served high-net-worth individuals and families for more than three decades. It had $29.9 billion in assets under management as of September 30.

Waverly Advisors Buys Business Lines From Promus Holdings

Waverly Advisors LLC acquired certain business lines and their subsidiaries from Chicago-based Promus Holdings LLC, according to a statement released Tuesday. The deal expands Waverly’s specialized fund strategies and brings expertise in private equity and real estate to Waverly.

Promus Founders Brian Musso and Zach Musso were later joined by Andy Code to establish a multi-family office that  specializes in a variety of asset classes, delivering long-term legacy and multi-generational planning services for more than 30 families. Waverly had approximately $3.1 billion in assets under management as of June 30.

As part of the transaction, a new Waverly subsidiary, Promus Capital Management LLC, was formed, building on the Promus Access and Promus Realty strategies, which include primary fund allocations, buyouts, co-investments for private equity, real estate general partner solutions and opportunistic joint ventures.

The transaction closed on November 14 and increased Waverly’s AUM by approximately $29.5 billion.

Mercer Advisors Acquires Glass Jacobson Wealth Advisors

Glass Jacobson Wealth Advisors, a Maryland-based wealth management firm, was acquired by Mercer Global Advisors Inc., according to a Wednesday statement. The acquisition adds $1 billion in assets under management to Mercer and deepens its presence in the Mid-Atlantic.

Founded in 2001, Glass Jacobson Wealth Advisors is led by CEO Jonathan Dinkins and includes more than 20 advisers, planners and analysts serving more than 660 families. 

Denver-based Mercer, which is privately held, has $90 billion in client assets and more than 1,400 employees.

Commonwealth Veteran Adviser David Bashaw Joins Cetera

After a nearly 40-year affiliation with Commonwealth Financial Network, Financial Adviser David Bashaw joined Cetera Wealth Partners, according to a firm statement released on Wednesday. Bashaw had approximately $115 million in assets as of August 31.

Bashaw has 42 years of financial services experience, including 39 with Commonwealth. He decided to join Cetera following LPL Financial Holdings Inc.’s acquisition of Commonwealth, which closed in August. 

Cetera has 12,000 advisers and institutions and managed approximately $625 billion in assets under administration and $284 billion in assets under management as of September 30.