JANUARY 14, 2025

RIA News

$8B Balentine Sells 20% Stake to FJ Management

The investment from FJM, which has its roots in convenience stores, will help Balentine with succession planning and growth.

Elevation Point Stakes $750M Michigan RIA

The deal with Stonebrook Private represents Elevation Point’s first strategic investment since its inception in June.

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Cardinal Investment Advisors, an institutional consulting firm, will expand upon Mariner Institutional, a new division seeded last year when the RIA acquired two firms with that focus.

Two-thirds of the firm is now owned by remaining shareholders, including advisors and employees.

Cerity Acquires $4.1B Boston RIA

The deal with Prio Wealth will expand Cerity’s offerings for private and corporate clients in the Boston metro area.

Adrienne Penta started work at the Boston-based SCS this week after spending 15 years at Brown Brothers Harriman.

MAI Acquires $662M California Firm

Concentric Wealth Management represents MAI’s second West Coast acquisition in 2024.

Carson Launches Tax Strategy With Acquisition of $385M RIA

Debbie Taylor, who runs the 10-person Taylor Financial in Franklin Lakes, N.J., will lead Carson's new tax strategy.

The combination with Harrison Berkman Claypool & Guard and its RIA enhances Coldstream’s existing tax and consulting practice and brings its total AUA to $11.1 billion.

The additions bring Savvy’s total number of advisors to 40 and assets under management to more than $1 billion.

Hillguard Wealth Management will join Sanctuary Global and work out of the firm’s Miami office. Sanctuary President Vince Fertitta said there was a demand for an alternative to “the way most banks and wirehouses” treat international business.

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