Advisory M&A News – 10/16/23

MarshBerry Acquires IMAS Corporate Finance 

MarshBerry, a global M&A advisory firm for insurance brokers and wealth management firms and an affiliate of Marsh, Berry & Co. LLC, announced it has acquired IMAS Corporate Finance LLP.

IMAS is a M&A advisory firm operating in U.K. insurance and wealth segments and has been owned by its partners since 1992. MarshBerry now has regional offices across the U.S. and international offices in the Netherlands, Germany, France and the U.K.

“By joining forces with IMAS, we are combining our strengths and expertise in data rich insights and market perspectives to create a powerhouse of M&A advisory services in the industry,” John Wepler, MarshBerry’s chairman and CEO, said in a statement. “Together, we will forge new paths, drive unparalleled value for our clients, and cement our position as a market leader in the U.K. and across Europe.”

In 2022, MarshBerry announced a partnership with Atlas Merchant Capital, an investment firm, and acquired FirstChoice, which caters to insurance agency owners.

Kestra Wealth Services Adds McCullough

Kestra Private Wealth Services, a registered investment adviser subsidiary of Kestra Financial Inc., welcomed Bob McCullough of Perry, Georgia, to its platform in partnership with Cordele, Georgia-based Inspired Wealth Planning, which joined in March 2023.

McCullough brings nearly three decades of experience to the firm, joining alongside longtime friend Ricky Smith, the president of Inspired Wealth Planning. The duo collectively oversees $350 million in client assets.

“When considering the next phase of my career, partnering with an established firm with a track record of success was important to me, as it provides greater opportunities to offer a personalized experience to clients,” said McCullough in a statement. “After witnessing the success Ricky achieved with the full support of Kestra Private Wealth Services, I’m confident joining the firm is beneficial for my career goals, the continued success of Inspired Wealth Planning, and the clients we serve.”

McCullough is also joined by registered associate Kathy Duke and client service associate Katherine Moore.

Wealth Enhancement Group Expands by Adding KCS Wealth Advisory

Wealth Enhancement Group, an independent wealth management firm with more than $70.5 billion in total client assets, announced the acquisition of KCS Wealth Advisory, an independent RIA located in Los Angeles.

Led by managing partners Laura Gilman and Ken Waltzer, the KCS Wealth Advisory team will bring approximately $373 million in assets under management. Gilman and Waltzer had each operated individual financial practices and merged their firms in 2014 to form KCS Wealth Advisory.

“We are grateful that KCS Wealth Advisory decided to join Wealth Enhancement Group,” said Jeff Dekko, CEO of Wealth Enhancement Group, in a statement. “By partnering with our firm, the team at KCS will have access to additional resources to allow the team to enhance their services while remaining committed to their clients’ long-term success.”

The addition of KCS Wealth Advisory increases the number of Wealth Enhancement Group offices in California to 17.