Advisory M&A News – 9/2/25

Former Merrill, Hightower Advisers Create Independent Advisory Firm in Connecticut

Granite Islands Private Wealth LLC, a new independent advisory firm, has opened in Guilford, Connecticut. The firm’s founders and managing directors, Charles Andriole and Robert DeLucca, collectively manage more than $1 billion in client assets.

Andriole and DeLucca formerly worked together as The Andriole Group at Hightower and Merrill Lynch. The partners are joined by Michele Arsenault as operations manager and Lorenzo P. Gaudioso as wealth adviser and retirement plan adviser.

“We are excited to … take our independence to a new level with industry-leading resources, technologies, and solutions,” said Andriole, in a statement. “We know what it means to be a fiduciary—and have designed Granite Islands as a highly focused, planning-driven firm to cater to the unique and evolving needs of clients, protect their best interests, and align the right services and opportunities to help them achieve their goals.”

United Capital Financial Advisors Acquires The Paul Group

United Capital Financial Advisors has acquired The Paul Group, an ultra-high-net-worth advisory firm managing $1.1 billion in client assets. The transaction closed on August 22.

The Paul Group’s four-person team has established practices in Los Angeles and New York markets.

“This partnership with United Capital is the natural next step in our mission to provide extraordinary care for our clients,” said Geoffrey Paul, CEO of The Paul Group. “We believe having access to United Capital’s deep suite of in-house wealth management offerings, such as estate planning, income tax planning, investment services, business-specific services and insurance, will be a true differentiating factor for our clients.”

Echelon Partners served as exclusive adviser to The Paul Group in the transaction.

Mercer Advisors Acquires RIAs Based in Oregon, Idaho

Mercer Advisors has acquired two registered investment advisers with approximately $850 million in assets: Eagle Wealth Management, in Bend, Oregon, and West Oak Capital LLC, in Eagle, Idaho.

Eagle Wealth, which manages approximately $350 million in assets under management for 300 clients, has a 10-person team that offers long-term financial planning and tax services.

West Oak Capital manages $500 million in assets for over 100 high-net-worth families and has an additional office in Westlake Village, California.

Mercer Global Advisors Inc., which is headquartered in Denver, has more than 1,320 employees in more than 100 locations. Its parent company, Mercer Advisors, had $81 billion in client assets under management and advisement as of June 30.

Merchant Partners with Validus Capital

The operating company Merchant has announced a strategic partnership with Validus Capital, a Los Angeles-based registered investment adviser with approximately $2.5 billion in client assets under management. Merchant has partnerships with 115 firms and RIA practices in six countries, collectively managing more than $250 billion in assets.

Founded in 2022 by CEO John Krambeer, Validus is a multi-family office platform designed for ultra-high-net-worth families.

“Families and institutions are seeking broader access to private markets at the same time as RIAs are stepping forward as the trusted channel for that access,” said Marc Spilker, executive chairman at Merchant, in a statement. Krambeer said in a statement, “Merchant’s partnership allows us to accelerate this vision by enhancing our adviser platform, deepening our alternatives distribution and unlocking opportunities to grow with like-minded partners.”

Canterbury Capital Wealth Management Launches RIA

Adviser Blake Butler has launched Canterbury Capital Wealth Management LLC, an independent registered investment adviser based in Tuscaloosa, Alabama.

Canterbury Capital, which primarily caters to current and retired business owners and physicians, selected Charles Schwab as the firm’s primary custodian and partnered with Fusion Financial Partners for technology and operations transition support.

Butler’s seven-member team, which includes investment managers, a tax accountant and an estate planning attorney, was previously affiliated with Northwestern Mutual.

“With the launch of our RIA, we can offer our clients true integration and the freedom to choose the strategies that we believe are right for them,” said Butler, in a statement. “Our goal is to add value – to go beyond advice by offering execution, along with the best technology and investment options.”

Elevation Point Collaborates with Goldman Sachs

Wealth management firm Elevation Point, based in Minneapolis, announced a minority stake partnership with Goldman Sachs.

The agreement will allow Elevation Point to offer its partner firms access to Goldman Sachs’ banking and lending, trading, asset management and capital markets capabilities. This strategic collaboration will expand Elevation Point’s suite of open-architecture investment solutions customized for registered investment advisers’ teams and their clients.

“This partnership strengthens our ability to deliver tailored solutions and solve the complex challenges facing today’s most sophisticated advisory teams and their clients,” said Jim Dickson, founding partner and CEO of Elevation Point, in a statement.

Goldman Sachs Custody Solutions was also named a key custodian for Elevation Point.

Goldman Sachs oversaw approximately $3.2 trillion in assets under supervision as of March 31, 2025.