Among the larger deals was the Corient transaction for Geller's family office business, an acquisition by Pitcairn, the AlTi Tiedemann Global deal in Germany, and and the LPL Financial purchase of Commonwealth Financial Network.

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

January 
Carson Group acquired Carson Wealth Cedar Rapids, including its Las Vegas office. The acquired firm is led by Russ Nieland; the newly-formed Carson Wealth runs about $1 billion in AuM.

EP Wealth Advisors, an RIA, bought Executive Wealth Management (EWM), in Michigan – a firm with about $1.6 billion in assets under management. At the time, the deal took EP’s total AuM to more than $31 billion.

MetLife Investment Management, part of New York-listed MetLife, agreed to acquire three teams and assets managed by Mesirow, an independent, employee-owned financial services firm. About 20 financial professionals joined. MIM acquired the high yield and bank loan, strategic fixed income and small-cap equity teams and certain related investment products.

MAI Capital Management, an RIA, bought California-based Concentric Wealth Management for an undisclosed sum. Concentric, founded in 2008 by Eric Flett and Stewart McGuire, is composed of six individuals and has $662 million in assets under management. 

Elevation Point, a growth accelerator and minority stake partner for independent advisors and breakaway firms, made a strategic investment in Stonebrook Private, based in Northville, Michigan. Stonebrook is a fee-only, fiduciary advisory firm with over $750 million in assets under management.

Corient acquired Geller’s multi-family office business. Geller MFO, based in New York, had $10.4 billion in assets under management and advisement as of the time we reported this deal. The transaction was one of the largest that Corient – the name of the US wealth business that is part of Canada’s CI Financial – has executed. Corient is the name of the old CI Private Wealth business following a rebrand in August 2023.

Emigrant Partners, which specializes in acquiring minority stakes in wealth and asset management firms, took such a position in Novare Capital Management. Novare manages $1.8 billion in assets and is headquartered in Charlotte, North Carolina.

Sequoia Financial Group, an RIA with $22.6 billion in AuM as of December 31, 2024, agreed to buy Carlson Capital Management, a firm based in Northfield, Minnesota, with $3.8 billion of client assets.

Pitcairn, the US multi-family office, bought Baltimore-based Brightside Partners, an RIA serving ultra-HNW clients and overseeing about $2.5 billion in client money.

AlphaCore Wealth Advisory, a registered investment advisory (RIA) firm, partnered with enTrust Wealth Advisors, a registered investment advisor managing more than $420 million in assets under advisement.

February
Mercer Advisors expanded in Nashville, buying $660 million Financial Partners Group, an investment advisory and financial planning firm based in Gallatin, Tennessee.

EP Wealth Advisors, a fee-only registered investment advisor with a growing national footprint, acquired Criterion Capital Advisors in Nashville, Tennessee.

Carnegie Investment Counsel, a Cleveland-based RIA managing about $5 billion in assets, acquired Eagle Ridge Investment Management, an advisory firm based in Stamford, Connecticut. The acquisition boosted the firm’s assets under management and personnel by over 25 per cent, bringing in an additional $1.3 billion in AuM.

Dow Jones, the news and information group, bought Dragonfly Intelligence, a geopolitical and security intelligence provider, and Oxford Analytica, a provider of geopolitical intelligence advisory services. These organizations were acquired from New York-listed FiscalNote Holdings, for $40 million.

March 
State Street bought the global custody and related businesses of Mizuho Financial that operate outside Japan. The acquired businesses support the overseas investments of Mizuho’s Japanese clients. The entities are Mizuho Trust & Banking (Luxembourg), owned by Mizuho Trust & Banking Co Ltd, and Mizuho Bank (USA), a wholly owned subsidiary of Mizuho Bank. Combined assets under custody are $580 billion, and assets under administration are $24 billion.

Prime Capital Financial, an RIA headquartered in Kansas, set up a family office business by buying SineCera Capital, a boutique wealth management and family office services firm headquartered in Austin, Texas. The acquired entity concentrates on serving UHNW families.

AlTi Global or AlTi Tiedemann Global, the global wealth manager with more than $77 billion in combined assets, bought a Germany-based multi-family office.

The acquired organization – Kontora Family Office – is headquartered in Hamburg. It has about €14 billion ($15.20 billion) in AuM. This was AITi’s first European-based deal since Allianz X injected capital into the wealth management firm. (Allianz X is an investment arm of Allianz SE, and Constellation Wealth Capital, an investment advisory firm specializing in investing in wealth managers.)

Summit Financial, a US-based investment advisory firm with over 40 years of experience providing multi-family office services, added Gateway Advisory, a New Jersey-based firm with $830 million in assets under management.

AlphaCore Wealth Advisory, an independent RIA, merged with Callan Capital, a San Diego-based wealth management firm founded in 2007, overseeing $2.4 billion in assets under advisement. AlphaCore acquired Callan Capital to reach more than roughly $6.5 billion in assets.

Wealth Enhancement Group, a US wealth manager headquartered in Plymouth, Minnesota, joined forces with Marcum Wealth, an RIA headquartered in Cleveland, Ohio. Marcum had $4.3 billion of client assets at the time of the deal, adding to the $107.5 billion of Wealth Enhancement Group.

Julius Baer wrapped up the sale of its domestic Brazilian wealth management business to Banco BTG Pactual. The sale agreement was announced in early January, for a sum of BRL615 million ($106.8 million).

LPL Financial entered a "definitive purchase agreement to acquire Commonwealth Financial Network" in a $2.7 billion cash deal.