Advisory M&A News – 9/23/25

OneDigital Gets Strategic Investment from Stone Point Capital, CPP Investments

OneDigital, an insurance brokerage, financial services and workforce consulting firm valued at more than $7 billion, received a majority investment from funds managed by Stone Point Capital and the Canada Pension Plan Investment Board.

Stone Point Capital and CPP Investments made their investments through the acquisition of a stake from existing shareholders, including Onex Partners, which will remain a significant minority owner.

“This commitment from Stone Point Capital and CPP Investments represents two high-quality investors aligning behind a single platform that integrates across a multitude of verticals,” said Adam Bruckman, OneDigital’s president and CEO. “This partnership gives us the fuel to keep building—investing in both people and technology, while sharpening our capabilities and showing up even stronger for our clients.”

The transaction is expected to close in the fourth quarter of 2025, subject to regulatory approvals.

Stone Point, an alternative investment firm based in Greenwich, Connecticut, has more than $70 billion of assets under management. CPP Investments manages the Canada Pension Plan Fund, which totaled C$731.7 billion as of June 30, 2025.

Mai Capital Management Acquires J.W. Coons Advisors

Mai Capital Management, a registered investment adviser, has acquired J.W. Coons Advisors for an undisclosed amount of money. Coons Advisors, headquartered in Columbus, Ohio, has approximately $612 million in assets under management.

Coons Advisors adopted the Mai brand when it joined the company on September 19. Its full team and firm leadership will remain in place.

Mai had $31.15 billion in assets under management and $3.84 billion in assets under advisement as of June 30.

2 Advisers Join Uniting Wealth Partners

Uniting Wealth Partners, a registered investment advisory firm backed by Wealth Advisor Growth Network, welcomed Rick and Alecia Dougherty, two advisers based in Rochester, New York, with $235 million in assets under management as of June 30.

“We were drawn to the advantage Uniting Wealth Partners provides to maintain our independence while accessing the resources we need to expand our services and appeal to a potential buyer in the future,” said Rick Dougherty in a statement.

Uniting Wealth Partners, according to the announcement, provides advisers “with comprehensive support and resources to facilitate their growth, maximize their firm’s value, and design a succession plan on their terms.”

Daybright Financial Acquires the Platinum 401k

New Jersey-based Daybright Financial announced its third acquisition of the year: the Platinum 401k Inc., a retirement plan administrator based in Clearwater, Florida. The Platinum 401k specializes in ERISA 3(16) compliance and scalable retirement solutions for small and midsize businesses.

“This acquisition reflects our commitment to delivering smarter, more accessible retirement solutions,” said Megan Schneider, Daybright Financial’s CEO, in a statement. “Together, we’ll accelerate our ability to serve clients with flexible, compliant, and cost-effective retirement plans.”

Elevation Point Becomes Minority Stakeholder of Loxahatchee Capital

Elevation Point LLC, a wealth management firm that partners with registered investment advisers, has taken a minority, non-voting equity stake in Loxahatchee Capital Partners LLP, a multi-family office in Tequesta, Florida, with $1.4 billion in assets.

Loxahatchee Capital’s seven-member team most recently worked as the 440 Group, within UBS. The team manages investment portfolios, provides financing and delivers planning and investment advice to high-profile families and charitable institutions in 31 states.

According to the announcement, Loxahatchee Capital’s partners are continuing to seek partnerships with private investors and institutions with assets in excess of $10 million.

In the past 15 months, Elevation Point has invested in firms representing approximately $9.6 billion in client assets under supervision as of August 31.

Adviser Mike Felton Joins Ameriprise Financial

Mike Felton, a financial adviser with $110 million in client assets, has joined Ameriprise Financial Inc. from Merrill Lynch. Felton, a 20-year industry veteran in Charleston, South Carolina, said in the announcement that he wanted greater control over his practice and appreciated Ameriprise’s commitment to financial planning, integrated support model and advanced technology platform.

“I’m energized by the ability to deliver more meaningful conversations and outcomes for my clients through comprehensive financial planning,” Felton said in a statement. “Ameriprise gives me freedom to shape my practice around what matters most to me.”

Felton is supported locally by Jamie O’Brien, an Ameriprise complex director, and Michael Rearden, an Ameriprise regional vice president. Ameriprise has a national network of approximately 10,000 financial advisers.