The top 10 RIA stories of the week


 

The Top 10 RIA Stories of the Week

This week in the world of Registered Investment Advisors (RIAs) has been nothing short of dynamic, with major moves, mergers, strategic shifts, and even a touch of golf tradition. From private equity acquisitions to executive shuffles, here are the top 10 stories that defined the RIA landscape this week.

1. $2.5B RIA CEO Plays in Masters Tournament as ‘Marker’

In a unique crossover between finance and sports, the CEO of a $2.5 billion RIA stepped into the national spotlight as an honorary “marker” at the Masters Tournament. While not a competitive entrant, the CEO filled in for an odd-numbered field, showcasing not only his golf game but also the increasing cultural presence of wealth management executives. This unexpected highlight generated buzz across both Wall Street and Augusta National.

2. Cetera Makes Open Pitch to Commonwealth Advisors

Cetera Financial Group took a bold step this week by publicly courting Commonwealth Financial Network advisors. In an uncharacteristically direct move, Cetera positioned itself as a compelling alternative amid industry consolidation and advisor movement. The campaign signals heightened competition among major RIA platforms and broker-dealers vying for top talent.

3. Orion Lays Off Employees for Third Time in Four Years: Sources

Sources reveal that Orion Advisor Solutions has executed its third round of layoffs in just four years, raising questions about the company's long-term strategy and stability. The move underscores growing pressures in the fintech space, where firms must constantly balance innovation, service, and cost management.

4. Exclusive: $10B Cary Street Partners Sells to PE Firm CIVC Partners

In a major transaction, Cary Street Partners, a $10 billion RIA, has been acquired by private equity firm CIVC Partners. This deal is part of a broader trend of private equity’s deepening investment in wealth management—a sector seen as recession-resistant and scalable.

5. Creative Planning Acquires $1B California-Based RIA

Creative Planning continues its acquisition spree, this time scooping up a $1 billion RIA in California. The firm, known for aggressive growth through M&A, strengthens its West Coast footprint and reinforces its standing as a national wealth management powerhouse.

6. Focus Financial Partners Plans Retreat from International Markets: Sources

According to insider sources, Focus Financial Partners is reportedly preparing to scale back its international operations. While the firm has long pursued a global growth strategy, recent developments suggest a refocusing on domestic opportunities amid geopolitical and regulatory complexities abroad.

7. Pure Financial Advisors Buys $900M Chicagoland RIA

Pure Financial Advisors has expanded its Midwest presence with the acquisition of a $900 million RIA based in the Chicagoland area. The deal exemplifies the continuing consolidation trend among mid-sized RIAs seeking scale, resources, and succession planning solutions.

8. Charles Schwab Invests in Estate Planning Platform Wealth.com

Charles Schwab has taken a strategic stake in Wealth.com, an estate planning technology platform. The investment points to the growing intersection of digital tools and financial advisory services, as Schwab looks to offer a more holistic client experience.

9. $10B Soltis Names Ex-Carson Group Exec as Head of M&A

Soltis Investment Advisors, managing $10 billion in assets, has hired a former Carson Group executive to lead its mergers and acquisitions efforts. The move signals Soltis’s intent to accelerate growth through strategic deals, leveraging seasoned leadership to navigate a competitive acquisition market.

10. Clients Caught in Crossfire of Advisor’s Legal Battle with Hightower

A high-profile legal dispute between an advisor and Hightower Advisors is drawing attention—not just for its legal implications but for the impact on clients. With millions in assets potentially in limbo, the case underscores the importance of continuity, compliance, and communication in advisor transitions.

As the RIA space continues to evolve at a breakneck pace, these stories reflect broader themes: consolidation, competition, innovation, and the human side of finance. Stay tuned as we continue to monitor the movements shaping the future of wealth management.

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