A round-up of the main transactions involving North American wealth management during April, May and June this year.

Here is a summary of wealth management mergers and acquisition activity for the second three months of 2025. Unless explicitly stated, purchase prices are not disclosed. We have removed some of the smaller deals from this summary.

DayMark
DayMark Wealth Partners, an RIA with $3.8 billion for its mostly private clients, added a Florida-based team that had previously managed $350 million. The deal established DayMark’s Southeast Florida presence with offices in Fort Lauderdale and Stuart.

BMO
The Toronto-listed banking group agreed to buy Burgundy Asset Management Ltd, a fellow Canadian firm with C$27 billion ($19.57 billion) in assets under management. The purchase price was about C$625 million, payable in BMO common shares, including a C$125 holdback to be paid if Burgundy maintains certain assets under management for 18 months after the deal is closed. An earn-out component may also be paid if certain growth targets are hit. Part of BMO’s rationale was to expand into the high net worth and ultra-HNW sector.

Elevation Point
Elevation Point, which takes minority stakes in advisors and breakaway wealth management firms, made a strategic investment in Family Office Partners. FOP is based in Lafayette, Louisiana. The FOP team, which oversees about $2.5 billion in client assets under supervision, is led by advisors formerly affiliated with UBS.

Osaic
Osaic, a portfolio company of Reverence Capital Partners, bought Boston-based CW Advisors, an RIA managing $13.5 billion in client assets. CW Advisors, which serves high net worth and ultra-HNW clients, has a total 140 professionals across 17 offices. Osaic bought CW Advisors from its private equity sponsor, Audax Private Equity. 

Beacon
Beacon Capital Management, an RIA, acquired Astor Investment Management, a $1 billion investment management firm based in Chicago. The assets under management sit in separately managed accounts, unified managed accounts, and mutual funds.

Carson Group 
Carson Group acquired Wambolt & Associates, a wealth advisory firm based in Littleton, Colorado. Led by founder and managing partner/wealth advisor Greg Wambolt, the team manages about $570 million in assets.

Lido Advisors
Lido Advisors, a wealth advisory firm with over $29 billion in regulatory assets under management as of December 31, 2024, partnered with Exchange Capital Management. ECM is an Ann Arbor-based RIA with more than $830 million in RAuM. ECM is an independent, fee-only fiduciary firm.

Lido Advisor also partnered with Scottsdale, Arizona-based RIA Copperwynd Financial, a business with $720 million in client money. 

EP Wealth Advisors
The RIA partnered with Buffington Mohr McNeal, another registered investment advisor. The latter firm is based in Boise, Idaho. The pact added almost $900 million in AuM.

EP Wealth Advisor partnered with wealth manager AlphaMark Advisors, based in the suburb of Fort Wright, Kentucky. The deal involved about $385 million of assets.

Ocorian
The provider of fund and corporate administration services and regulatory solutions to clients such as asset managers and HNW individuals, agreed to buy fund solutions division of Element 78 Partners, a Chicago-headquartered firm. Ocorian combined the E78 Fund Solutions team with its global fund services business.

Mercer Advisors
The RIA acquired Full Sail Capital, an Oklahoma City-based wealth management firm serving high net worth and multigenerational families. Full Sail Capital manages $2 billion in client assets.

Mercer Advisors also acquired Tufton Capital Management and Lewis Wealth Management.

Focus
Focus Financial Partners acquired Churchill Management Corporation; it was expected to add $9.4 billion in regulatory AuM to Churchill.

RBC
RBC Wealth Management – US welcomed The Dalton Bahney and Treinen Wealth Management Group to its Boise, Idaho office. The team, from UBS, managed $1.6 billion in client assets.

The firm also added The MK Group to its Austin branch. The team came from Merrill Private Wealth Management with nearly $500 million in assets under management.

Carlson Group 
The wealth advisory firm with over $42 billion in assets under management, fully acquired Carson Partner firm SRQ Wealth. The Sarasota, Florida-based business, which manages $365 million in assets, became a Carson Partner in 2019.

Integrated Partners
The RIA, with more than $21 billion in assets under advisement, brought in Corey Wealth Partners, a Boston-based advisory team, as an affiliate.  Corey, which was founded by its managing partner Jeff Corey, has almost $370 million in client assets.

Highower
The Chicago-based firm invested into Smith Anglin, a financial planning and wealth management practice based in Dallas, Texas, with about $2 billion in assets under management.

Hightower also made an investment in Lindbrook Capital, a financial planning and wealth management practice with about $3.8 billion in assets under management.

Steward Partners
The firm acquired Moore's Wealth Management, adding five financial advisors and $700 million in assets. The move expanded Steward’s footprint in Georgia.

IQ-EQ, the global investor services group backed by European private equity house, Astorg, made the “strategic acquisition” of South Watch, a provider of services such as fund administration and tax preparation to clients in the US and Cayman Islands.

The business expanded IQ-EQ’s footprint in the Boston market; it was acquired from the majority shareholder, Everlane Equity Partners, and principal employee shareholders.

Savant Wealth Management 
The RIA acquired another registered investment advisor, Rhode Island-based Corrigan Financial, a business with $1.5 billion in AuM.

Modern Wealth Management 
The firm bought Chicago-based OFM Wealth, taking AuM to more than $7.5 billion, and the 16th acquisition it has made since launching in April 2023. OFM was founded in 1981 by Sam Ogrizovich.

Modern Wealth finalized its acquisition of Wade Financial Advisory in Campbell, California; it expected to close on its acquisition of Planned Asset Management in Calabasas, also in the state. These deals added $1 billion in assets under management.

F2 Strategy
F2 Strategy, a US-headquartered wealth management technology and marketing services company, acquired MD Solutions, a technology, software and operations provider in Florida.

Aspen
Aspen Standard Wealth, an RIA acquirer, bought New England Private Wealth Advisors. NEPWA, based in Boston; it had $2.9 billion in assets under management as of December 31, 2024.

New Edge Advisors
NewEdge Advisors, a Louisiana-based RIA with more than $60 billion in assets, acquired KFBM&A, a financial advisory team based in Destin, Florida. The acquired firm, which has about $1.4 billion in client assets, was previously affiliated with Merrill Lynch.