A summary of M&A moves in the second quarter of 2024.

A summary of mergers and acquisitions in the North America wealth sector during April, May and June this year. Details may be subsequently adjusted.

EisnerAmper, Tidwell
Birmingham, Alabama-based tax, assurance and advisory, and real estate consulting firm Tidwell Group, joined EisnerAmper. Founded in 1997, Tidwell has 40 partners and a staff of more than 200 professionals. Tidwell has six offices across Alabama, Georgia, Texas and Ohio.

iCapital, Mirador
New York-headquartered iCapital agreed to buy Mirador, a business delivering data aggregation and financial reporting. With the acquisition, iCapital has expanded its data management and reporting capabilities to serve clients in the wealth management, family office, endowment, and foundation segments. The financial terms were not disclosed.

EP Wealth Advisors
EP Wealth Advisors, an RIA, added almost $1.2 billion in AuM via its acquisition of Wacker Wealth Partners, a business located in San Luis Obispo, California. The firm has operated for more than 35 years.

AITI Tiedemann Global
US-listed AITI Tiedemann Global – the international multi-family office that was created out of a transatlantic merger – bought New York-headquartered East End Advisors, a firm with about $5.6 billion in AuM. AITI Tiedemann Global also acquired Envoi, a family office. Envoi has about $3.0 billion of assets. 

BraddockMatthews and David Barrett Partners
The firms merged to create an international asset management executive search business. The new business, comprising 30 people, was renamed BraddockMatthewsBarrett. It has nine partners in New York, Boston and London, and an associated staff of consultants, research, and administrative professionals. The organization concentrates on asset management – including asset owners, private equity, private debt, and alternative and traditional asset management firms. There is also wealth management expertise in the mix.

Evermay Wealth Management
Evermay Wealth Management, located outside of Washington, DC, acquired fellow RIA Insight Wealth Management. Insight, which is based in Gainesville, Virginia, has $1.06 billion in assets under management, as of March 1.

Cerity Partners
Cerity Partners, a US wealth management firm founded in 2009, combined with Denver-based Agility, a provider of outsourced chief investment officer firm. Agility services clients including foundations, family offices, corporations and healthcare organizations.

JTC
JTC announced its intention to buy First Republic Trust Company of Delaware (FRTC-DE), a subsidiary of JP Morgan Chase Bank. Wilmington, Delaware-headquartered FRTC-DE provides trust administration services to high net worth individuals. The company has about $9 billion of assets under administration by market value and a team of experienced trust professionals.

Avantax
Avantax bought the wealth management arm of Integrated Tax & Wealth Strategies, an independent wealth management business, with $760 million in total client assets (as of December 31, 2023). Financial terms were not disclosed. 

Integrated Tax & Wealth Strategies’ founder – Brian Stephens – is  continuing with the tax practice. Other advisors at the business became W-2 investment advisor representatives of Avantax Planning Partners.

Avantax also acquired GA Investment Management, based in Pennsylvania.

Signature
Signature Estate & Investment Advisors, an independent registered investment advisor, entered into a definitive agreement to acquire Cedar Brook, a $2 billion RIA based in Cleveland, Ohio.

MAI Capital Management
MAI Capital Management, a US registered investment advisor, acquired Harbor Wealth Management, a business with a presence in Boulder and Denver, Colorado. The terms of the transaction were not disclosed. Founded by Elyse Foster in 1988, the firm had $321 million in client assets under management at the time of the acquisition.

The Colony Group, Buckingham Strategic Wealth
The Colony Group and Buckingham Strategic Wealth formed a $115 billion group with over 20,000 clients and more than 90 offices around the US. Both firms are Focus Financial Partners affiliates.

Carson Wealth
Omaha, Nebraska-based Carson Wealth acquired three Carson Wealth locations in Hagerstown, Maryland, Atlanta, Georgia and Johnson City, Tennessee.

Summit 
Summit Financial Holdings, a financial services firm, brought in Florida-headquartered Kyros Private Wealth. This newly-formed practice is led by founding partner and private wealth advisor William E Clegg IV. The practice was previously affiliated with UBS as The Clegg Group.

Robertson Stephens
Robertson Stephens Wealth Management added Colorado-based Three Points Financial to its business â€“ an RIA with $118 million in advisory assets. Mary Alpers, business founder, joined as managing director and principal. Previously, she was president of Three Points Financial. 

Steward Partners
The employee-owned independent financial services firm Steward Partners made a new partnership with Coastal 360 Capital Advisors. The move expanded Steward Partners footprint in Florida, opening its first office in the Naples market and adding to the Clearwater, Sarasota, and Winter Park locations.

Dynasty Financial Partners
Dynasty Financial Partners said Founders Grove Wealth Partners joined its platform of technology-driven wealth management tools and services. The new firm is based in Richmond, Virginia.

Cresset
Cresset Asset Management bought Michigan-based The Connable Office, a firm originating as a single family office in the late 1800s.

Summit
Summit Trail Advisors has added former Key Client Group of BNP Paribas/Bank of the West to its roster of professionals.

Carson Group
Avery Wealth, a wealth manager based in Jackson, Michigan, joined the network of partner firms at Carson Group. Led by president and wealth advisor, Dan Reese, Avery Wealth manages $212 million in client assets. It was founded in 2003.

Three Sixty Wealth Management, with $134 million of client assets, also joined Carson Group.