Advisory M&A News – 6/10/2026

MAI Acquires Saybrook Wealth Ahead of Carlyle Sale

MAI Capital Management LLC, a registered investment adviser, acquired Saybrook Wealth Group Inc., a registered investment adviser based in Old Saybrook, Connecticut, with $273 million in assets in management.

Stephen Norton founded Saybrook in 2007, providing investment management and financial planning services such as retirement, income, tax and estate planning. The firm specializes in serving high-net-worth individuals and families.

Norton will continue serving clients in his new role as a senior wealth adviser at MAI. Saybrook will adopt MAI’s brand and access its internal infrastructure across human resources, operations, technology and marketing.

Saybrook Wealth Group joined MAI effective May 29, days before investment firm Carlyle Group Inc. closed its acquisition of a majority stake in MAI on June 4.

Carlyle entered MAI’s ownership structure in 2021 through its investment in Galway Holdings, which acquired MAI that year. MAI employees will continue to hold a large minority equity ownership position in the company.

With the close of the transaction, Galway Holdings and funds managed by Harvest Partners, LP and Oak Hill Capital have exited their positions.

MAI and its affiliated investment adviser had more than 40 offices across the U.S., a team of more than 700 people and approximately $77.3 billion in combined client assets managed or advised as of April 30.

LPL Taps Adviser to Launch Allegia Wealth Management

LPL Financial LLC added Financial Adviser Darren Colananni to its broker/dealer and registered investment adviser platform to launch Washington, D.C.-based Allegia Wealth Management, set to serve high-net-worth individuals. Colananni reported serving $230 million in advisory, brokerage and retirement plan assets as of year-end 2025. He joined LPL from Centurion Wealth Management.

LPL Financial Holdings Inc. is a wealth management firm with more than 32,000 financial advisers and the wealth management practices of approximately 1,100 financial institutions, servicing approximately $2.3 trillion in brokerage and advisory assets.

Mariner Plans to Buy Atlantic Wealth Partners

Mariner Wealth Advisors LLC will acquire Atlantic Wealth Partners LLC, an advisory firm based in Jupiter, Florida, advising approximately $218 million in assets.

Atlantic Wealth was founded by Steve Olson and was built to serve first responders throughout Palm Beach County and Martin County, Florida. Three advisers from the firm are expected to join Mariner when the transaction closes on June 30.

Alliant Insurance Services Launches Retirement, Wealth Business Line

Alliant Insurance Services Inc. launched Retirement & Wealth at Alliant, a new line of business that will combine retirement plan relationships with individual wealth advisory services through affiliated entities.

The business line will be led by Managing Director and Executive Vice President Amit Dogra.

Alliant Retirement Consulting currently oversees more than $26 billion in assets under advisement.

Modern Wealth Management Acquires $1.1B Florida Firm

Modern Wealth Management LLC, a registered investment advisory firm, announced an asset purchase agreement with Flaharty Asset Management LLC, a holistic wealth management firm based in Clearwater, Florida, that oversees approximately $1.1 billion across advisory and brokerage assets.

Led by CEO and Managing Partner Shon Flaharty and Chief Investment Officer Hunter Orr, Flaharty will bring an 18-person team, including nine advisers, to Modern Wealth.

By joining Modern Wealth, the Flaharty team will gain access to an integrated wealth management platform and organic growth hub to source, qualify and grow prospective clients before connecting them with advisers.

Flaharty now manages more than $14 billion in assets across 20 U.S. offices.