Advisory M&A

Ameriprise Financial welcomes team of female advisers; Concurrent launches RIA; Merit Financial acquires Planned Futures; and more.

Ameriprise Financial Welcomes Team of Female Advisers

Financial advisers Lauren Salas and Jan Klein recently joined the branch channel of Ameriprise Financial Inc. from Morgan Stanley with $154 million in assets.

They are joined in Fort Lauderdale, Florida, by registered client service associate Ashley Leopold, Ameriprise complex director Daniel Landrau and Ameriprise associate branch manager Ross Cammaratawho support the team.

“We were blown away by the welcoming culture at Ameriprise and we were impressed by every person we met, top to bottom,” said Klein in a statement. “Now that we’re a few weeks into our transition, we can confidently say that everything we were told is true.”

“Our branch office is an encouraging and welcoming work environment,” said Salas in a statement. “It’s truly a collaborative, team approach where everyone wants to see us succeed.”

Concurrent Launches RIA, Attracts 5 New Adviser Groups

Concurrent Investment Advisors LLC has restructured as a multi-custodial, hybrid registered investment adviser.

Concurrent attracted five new adviser groups: Allegiant Wealth Partners of Virginia Beach, Virginia; Danielson Tate Capital Partners of Mandeville, Louisiana; Spectrum Wealth Partners of West Berlin, New Jersey; Price Financial Management of Berlin Township, New Jersey; and Alex Reed, who joined existing Concurrent partner Columbia Associates of Portland, Oregon.

These flagship groups account for more than $440 million in new assets under management on the firm’s RIA platform. According to the firm, more than 20 additional adviser groups are set to join in the year’s second and third quarters.

“To have five new joins, even through an intense transition period, speaks to the success and culture our advisers have demonstrated to the marketplace over the years,” said Nate Lenz, co-founder and CEO of Concurrent, in a statement.

Merit Financial Advisors Acquires Planned Futures

Georgia-based Merit Financial Group LLC has acquired Planned Futures Financial Group LLC, based in Williamsport, Pennsylvania.

Planned Futures provides investment management and retirement planning strategies for state employees and mass affluent clients. The firm is led by James Arnold and John Keene Jr., who will assume new roles at Merit as regional directors and partners.

“Expanding Merit’s presence in Pennsylvania has been a focus for some time, and we are very pleased to have James and John lead the charge,” said Rick Kent, Merit’s CEO and founder, in a statement.

The acquisition will increase Merit’s assets by approximately $460 million. This is Merit’s 19th acquisition since taking a minority investment in December 2020.

Edward Jones Brings On Financial Adviser Previously with Schwab

Financial services firm Edward Jones has added financial adviser Warren Anderson to the firm. Anderson will bring 25 years of experience in financial planning, wealth management and retirement planning solutions to the firm while operating from his Littleton, Colorado-based office. 

Anderson, who previously managed $375 million in client assets, will leverage Edward Jones’ digital initiatives and virtual business enablement tools with clients, according to the announcement.  

“I’m impressed by Edward Jones’ $1 billion investment in technology infrastructure as it continues to provide flexibility, autonomy and choice by providing its financial advisers resources to support their clients,” Anderson said in a statement. 

Anderson’s focus will be on delivering comprehensive financial strategies to clients, specifically helping clients prepare for retirement and other goals, as well as helping retirees to optimize their retirement funding strategy.

He was previously a wealth adviser with Charles Schwab Corp., working with retail investors. Prior to that, he was a financial consultant with Schwab. 

MassMutual Purchases Majority Interest in Counterpointe Sustainable Advisors

Massachusetts Mutual Life Insurance Co. has purchased a majority interest in Counterpointe Sustainable Advisors LLC, which specializes in sustainable real estate and creative energy solutions financing.

Since 2013, Counterpointe Sustainable Real Estate has served as a national Commercial Property Assessed Clean Energy capital provider and as an administrator of C-PACE Programs in some of the largest, most active jurisdictions.

“This transaction provides MassMutual with the opportunity to create an innovative investment platform to manage sustainable investment assets and provide solutions-based financing for clean energy projects, ultimately helping to reduce the carbon footprint of commercial real estate and energy infrastructure across the country,” said Eric Partlan, MassMutual’s chief investment officer, in a statement.

Jacobian Wealth Advisory Joins Financial Resources Group

Financial Resources Group Investment Services announced a partnership with Jacobian Wealth Advisory led by founder and president John Weber.

“We were looking to team up with a company that has a more personal approach while still being a part of a large enterprise,” said Weber in a statement. “Financial Resources Group’s white-glove services, coupled with LPL Financial’s industry-leading technology, is exactly what our firm was looking for, and we are excited to begin our partnership.”

Lisle, Illinois-based Jacobian Wealth Advisory joins more than 1,000 financial professionals that Fort Mill, South Carolina-based Financial Resources Group supports as a company dedicated to helping financial advisers grow their businesses. 

Integrated Partners Adds Michigan-Based Advisory Teams

Integrated Partners, an RIA firm, announced Wealthcare Management Services and JMB Financial Services Group, both based in Bloomfield Hills, Michigan, as the latest affiliate partners to join the firm.

David Petoskey, president and owner at WMS, and Joshua Barron, president and owner at JMB, lead their respective teams of advisers.

“Dave, Josh and their teams have already been working with our managing director of Investments, Stephen Kolano, to build a collaborative series of investment models and custom portfolios,” said Paul Saganey, Waltham, Massachusetts-based Integrated Partners’ CEO and founder, in a statement. “Tapping into our business owner solutions and family office experience will add another dimension to both teams of advisers. We’re excited to see what Dave, Josh and their teams can achieve with our support.”

Apollon Wealth Management Partners With Catalyst Wealth Management

Apollon Wealth Management LLC and Catalyst Wealth Management LLC are excited to announce a partnership.

Atlanta-based Catalyst Wealth Management will be doing business as Catalyst Apollon as a part of Mount Pleasant, South Carolina-based Apollon’s SEC-registered RIA firm. The Catalyst Wealth Management team is led by managing partners Christopher Pullaro, David Pierce, Dave Mirolli and Brian Pierce

“Apollon is a natural fit for us as a partner in our journey to help serve families and businesses to the best of our abilities,” the Catalyst managing partners said in a statement. “As a firm, we are constantly striving to find the best and brightest ideas for our clients, along with incredible service and technology.”

One Seven Announces Acquisition of TruClarity Wealth Advisors

MGO One Seven LLC, a wealth management firm, announced the acquisition of TruClarity Wealth Advisors, an RIA managing more than $690 million in assets under management.

The firms have a combined total AUM of more than $3.1 billion, per their most recent Form ADV filings. By joining forces with Beachwood, Ohio-based One Seven, St. Petersburg, Florida-based TruClarity Wealth Advisors gains access to an expanded suite of services.

“This strategic addition will enable us to collaborate closely with each team, combining our strengths to deliver an even more comprehensive suite of services to their valued clients,” said Ron Gross, One Seven’s CEO, in a statement. “Together, we are poised to create remarkable business opportunities and drive exceptional outcomes.”