Advisory M&A News – 2/18/2026

Mai Capital Management Acquires Loc Investment Advisers

Mai Capital Management, a registered investment adviser, has acquired Loc Investment Advisers, a fee-only registered investment adviser with officers in Hurricane, West Virginia, and Jupiter, Florida. Loc has approximately $759 million in assets under management and serves more than 800 households.

Loc joined Mai effective February 13, 2026. Terms of the transaction were not disclosed.

Founded in 1981 by Robert O’Dell and David Lanham, Loc is the longest-tenured RIA operating in West Virginia. It provides customized investment management and comprehensive financial planning services for individuals, families and business owners across more than 30 states.

“Loc embodies the same client-first philosophy that defines Mai,” said Rick Buoncore, chairman and CEO of Mai, in a statement. “Bob, Dave, Sean and their team have built an established planning-driven firm with deep roots and enduring relationships, including some spanning five generations.”

O’Dell and Lanham will remain actively involved in the business following the integration, ensuring a seamless transition and continuity of service for clients. Loc Managing Director Sean Mayberry will serve as senior wealth adviser and team leader to guide the firm’s advisers and client relationships.

As of January 1, 2026, Mai and its affiliated advisers had 40 offices across the U.S., and a team of more than 675 people who manage and advise on $72.6 billion in total assets.

First Northern Advisors Acquires Beacon Wealth Strategies

First Northern Advisors, a division of First Northern Bank, acquired Beacon Wealth Strategies, an independent financial advisory firm owned and operated by Tom Cicchini. Clients of Beacon Wealth Strategies will continue to have their accounts managed through Raymond James Financial Inc.

As part of this transition, Cicchini, the founder of Beacon Wealth Strategies, will join First Northern Advisors and work closely with clients and staff ahead of his planned retirement on June 30, 2026.

First Northern Bank is an independent community bank headquartered in Solano County, California. Raymond James’ three principal wholly owned broker/dealers, Raymond James & Associates, Raymond James Financial Services, and Raymond James Ltd., have more than 8,700 financial advisers in the U.S., Canada and overseas.

Fiduciary Services Group Acquires Future Planning Associates

Fiduciary Services Group, the parent company of DWC and PCS Retirement, acquired Future Planning Associates Inc., a third-party administration and recordkeeping firm based in Vermont. Founded in 1974, FPA is known for technical excellence and creative plan design.

FPA is FSG’s third TPA acquisition in the past 14 months and its second in New England, reinforcing the company’s strategy to integrate TPAs into DWC, its national TPA platform.

“This acquisition reflects our continued momentum in building a high-quality, scalable retirement services platform,” said Scott David, CEO of Fiduciary Services Group, in a statement. “FPA’s legacy and longstanding client relationships make them a natural fit as we deepen our investment in New England.”

As the firm joins FSG, FPA brings recordkeeping capabilities.