Advisory M&A News – 9/23/2026

Modern Wealth Acquires AWA Wealth Management

Modern Wealth Management, a registered investment advisory firm, acquired AWA Wealth Management LLC, an Auburn, California-based wealth management firm overseeing $290 million in client assets.

Founded in 1994 by Derrick Andrews, AWA Wealth Management provides wealth management for multi-generational families and business owners. AWA’s financial planning spans investment management, tax planning and preparation, estate planning, and coordination with outside professionals.

Joining Modern Wealth alongside Andrews is the entire AWA Wealth Management team: Grant Andrews, lead adviser; Toni Farkas, director of operations; T.J. Peterson, client services manager; and Chelsea Bailey, relationship manager. 

Cerity Partners to Acquire 3 Firms with $3.4B in Total AUM

Cerity Partners, an independent wealth management and investment advisory firm, will acquire the Contant-Leit Group and Wacht Group, both of Shufro Rose & Co., New York City-based wealth advisory practices managing a combined $1.4 billion in assets.

The companies provide investment management and comprehensive financial planning, including retirement planning; estate and legacy planning; insurance planning; tax planning; and educational and generational planning.

Separately, Cerity Partners announced its acquisition of wealth management firm Gilbert & Cook Inc., effective September 30.

Gilbert & Cook, based in West Des Moines, Iowa,  will contribute approximately $2 billion in assets under management and operate under the Cerity Partners brand.

Merit Financial Advisors Taps $888M Adviser Team

Merit Financial Advisors, a Georgia-based financial advisory firm, acquired veteran Financial Adviser Tim Brennan and his team. Brennan previously operated through a firm affiliated with Commonwealth Financial Network, where he spent nearly 27 years.

Brennan’s practice oversees approximately $888 million in client assets and serves more than 1,000 households. Based in Deerfield, Illinois, Brennan has spent 37 years in the financial services industry.

Merit managed approximately $30.1 billion in assets as of July 20, including $22.98 billion in advisory assets, $3.32 billion in brokerage assets, $2.65 billion in employer plans and $1.8 billion in employee stock ownership plan assets. On September 22, the company announced a succession plan for Kay Lynn Mayhue to succeed Founder Rick Kent as CEO on January 1, 2027.

LPL Financial Adds Cornerstone Advisors, Clear Pointe Wealth Management

The financial advisory teams of Cornerstone Advisors and Clear Pointe Wealth Management joined LPL Financial LLC’s broker/dealer, registered investment adviser and custodial platforms. The teams, which left Northwestern Mutual, reported serving approximately $1 billion in combined assets as of year-end 2025.

The Salt Lake City-area-based practices share a decades-long professional relationship and will operate from a shared office while maintaining their individual business identities. The teams provide financial planning and retirement-focused wealth management services to business owners, professionals and retirees.

Cornerstone Advisors, led by Financial Advisers Gardner Brown and Brian Lifferth, specializes in helping individuals and business owners nearing or living in retirement navigate complex financial decisions.

Clear Pointe Wealth Management, led by Financial Advisers Ron Hunt and Jonathan Groberg, serves clients who are preparing for retirement or living in retirement.

LPL Financial Holdings Inc. supports more than 32,000 financial advisers and services approximately $2.3 trillion in brokerage and advisory assets.