The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Copia, Kinship
Copia Wealth Studios, a platform providing insights on over $30 billion in assets, has bought Kinship, a relationship management app for wealth managers. Kinship's relationship platform will be integrated into Copia in early 2025.

The acquired firm was founded by its CEO, Victoria Wejchert, who will become a partner at Copia. The Kinship purchase means that Copia will be more effective in enabling family offices to build stronger relationships and discover new opportunities within their trusted network.

“This acquisition gives us a unique opportunity to pair the IQ that Copia provides with the EQ from Kinship’s platform to give our clients a full range of intelligence that will be game-changing for their success,” Michael J Sikorsky, CEO and founder of Copia Wealth Studios, said.

The acquisition plays to how investors are steering more of their money into alternative areas such as private equity, increasing the need for sophisticated tools. 

Copia’s platform processes more than 700 direct alternative investments and 1,100-plus investments in alternative funds. It works with groups such as family offices and RIAs.

Wellington-Altus
Wellington-Altus Financial, parent of Canadian wealth manager Wellington-Altus, has announced that it is exploring a secondary share sale to accelerate growth. It is seeking a new private equity partner to acquire about 20 to 30 per cent of its existing equity.

The transaction is expected to conclude mid-2025.

At present, the firm has more than C$35 billion ($24.8 billion) in assets under administration and employs more than 900 people in Canada. Wellington-Altus has told this publication that it has a medium-term goal of reaching $50 billion of AuA.

“Welcoming a new equity partner will enhance our future growth and client-focused service, while enabling our shareholders to unlock the value of their investments through a greater ability to sell shares, providing liquidity and validating our share price,” Shaun Hauser (pictured below), founder and CEO of Wellington-Altus, said.  

Shaun Hauser

The firm will maintain its status as a Canadian-controlled private corporation and remain majority-owned by its advisors and employees following a transaction.

In December 2023, the firm received a $40 million second-round growth equity investment from The Cynosure Group, raising Cynosure’s minority ownership stake to 15 per cent. In September 2024, Wellington-Altus secured a new credit facility with funds managed by Ares Management. 

MAI Capital Management
MAI Capital Management, an RIA, has bought Carmichael Hill & Associates for an undisclosed amount.

Headquartered in Gaithersburg, Maryland, Carmichael Hill has offered tailored retirement planning and financial services since its founding in 1989. 

Principal, Jim Stewart, became the sole owner of the firm in 2013. The firm had $350 million in client assets under management as of September 30, 2024.

Carmichael Hill will adopt MAI’s brand identity and receive its internal infrastructure, including HR, operations, and marketing resources. 

Jim Stewart, principal, will take on the title of senior wealth advisor and team leader.

In other details, MAI in October acquired Halpern Financial, another expansion into the Maryland and Washington DC Metro area this year.