Kestra, Cetera Poach from Competitors
It was service expansion via acquisition this week for two registered investment advisors. First, Prime Capital Financial announced the purchase of a Texas-based tax advisory firm to launch a Prime Capital Tax Advisory division. Then, VestGen Wealth Partners launched a retirement plan advice division bolstered by acquiring a former Osaic team specializing in the space.
For others, the deals were based on the more traditional focus of expanding footprints. AlphaCore Wealth Advisory announced the acquisition of a $1.5 billion RIA in Rockville, Md., and 1099 affiliation platform Concurrent brought on a $1.3 billion team from Raymond James based in Savannah and Sea Island, Ga.
In the meantime, WealthManagement.com published some contributor advice on both the execution of acquiring a firm, as well as ways to gauge private equity backing that drives quality growth, not just pumped up AUM. You can read a piece on the first topic related to blind M&A auctions from Mariner’s Kevin Corbett, and an article on the second by OneDigital’s Christian Mango.
But before you do that, be sure to catch up on other relevant deals and moves from the week below.
$866M Merrill Team Breaks Away to Kestra
Kestra Private Wealth Services, the hybrid registered investment advisor based in Austin, Texas, has poached a large team from Bank of America’s Merrill to join its platform.
David Barnett and Ashley Ament lead the Scottsdale, Ariz.-based team of four launching Ascend Private Wealth Partners, which will continue to offer wealth services ranging from investment management to tax planning.
Barnett had been a managing director and wealth manager at Merrill for about 25 years, and Ament had been with the wirehouse for about 21 years.
“We strive to ensure every decision we make reflects our clients’ best interests,” co-founder Ament said in a statement. “Joining Kestra PWS gives us the freedom and flexibility to source high-quality solutions for our clients without being tied to specific products. That independence, paired with Kestra’s hands-on support, empowers us to serve our clients even better.”
Kestra has built up its advisor base on the thesis of transitioning wirehouse advisors to W-2 roles. It also owns Bluespring Wealth Partners, its RIA acquisition arm.
Cetera Poaches $126M Advisor From LPL
Cetera Financial Group has brought on advisor Frank Mezzanotte and his $126 million FDM Wealth Management practice to its Cetera Financial Institutions division.
Mezzanotte, based in Long Island, N.Y., joins Cetera after about 12 years with LPL Financial. In the announcement, he cited Cetera’s support for independent advisors, its transition package and the positive experiences of other former LPL advisors as factors in the move.
“There were no big onboarding disconnects—all my assets came over in 30 days, and that’s a testament to Cetera’s onboarding process,” Mezzanotte said in a statement.
As of June 30, 2025, Cetera firms manage more than $590 billion in assets under administration and $263 billion in assets under management.
Former Commonwealth Advisors Join Osaic
Hinck Private Wealth Management, a Florida-based advisory team formerly with LPL Financial’s Commonwealth Financial Network, has jumped to Osaic’s independent advisor channel.
The Englewood-based team, founded in 1978, is led by CEO and founder John Hinck and managing partners Thomas and James Hinck. According to the announcement, the team joined Osaic for access to its technology and capabilities and the ability to stay on Fidelity Investments’ National Financial Services custodial platform.
“Osaic stood out for its open-architecture technology and expansive wealth management platform, while also allowing us to continue using NFS—a major advantage for our team,” Thomas Hinck said in a statement.
The need to switch to LPL’s self-custody platform in 2026 has been cited by other advisors who have left LPL since it closed the deal to acquire Commonwealth. Most recently, advisors joining broker/dealer Cetera have noted that as part of their decision making. Cetera recently made NFS available to all advisors in its network.
Osaic did not immediately respond to a request for the firm’s prior assets under management with Commonwealth.
The deal shows further success for the Scottsdale, Ariz.-based Osaic in drawing Commonwealth teams after seeing advisor attrition to LPL in recent years while it went through its own consolidation. In September, Osaic recruited Virtus Wealth Solutions, a Morgantown, W.Va.-based firm previously affiliated with Commonwealth to join Osaic’s supported independence channel.
New Hire to Expand Certuity’s Institutional Wealth Platform
Certuity, a multi-family office serving high-net-worth and ultra-high-net-worth individuals and families, has expanded its institutional wealth practice by hiring Giuliano Celle as managing director and head of institutional wealth.
Celle, who will be based in New York, will be tasked with broadening the firm’s institutional wealth capabilities, strengthening access to private market and direct deal opportunities, and deepening relationships with client families.
“We see strong opportunity with family enterprises, foundations and endowments that operate with institutional rigor but seek customized, boutique solutions,” Celle said via email. “Certuity is committed to deepening its institutional relationships to meet this growing demand.”
Prior to joining Certuity, Celle served as managing director of global family and institutional wealth LatAm/International at UBS. He previously held senior roles at J.P. Morgan Private Bank, where he led the Global Investment Opportunities Group for Latin America and select international family offices, institutions and UHNW clients.
Celle is also an investor and advisor in venture capital and private equity.
Creative Planning Acquires $275M Pennsylvania-Based RIA
Creative Planning, the Overland Park, Kan.-based registered investment advisor with more than $390 billion in combined client assets, has acquired Financial Abundance, a Pennsylvania-based RIA with over $275 million in AUM.
Financial Abundance, led by founder and President Paul Nichols, has offered financial planning to individuals and families for over two decades. Nichols is a frequent speaker on financial education and planning and has spoken alongside people such as former President Ronald Reagan and Gens. Colin Powell and Norman Schwarzkopf.
“Creative Planning’s resources and national footprint, along with their extensive in-house legal, estate and tax services, will enable us to continue our mission of providing peace of mind to our clients,” Nichols said in a statement.
The deal is Creative Planning’s 14th acquisition in two years.
Raymond James Brings Four Commonwealth Advisors to Corporate RIA Model
Raymond James has brought on four financial advisors from LPL Financial’s Commonwealth Financial Network over to its corporate RIA model, adding to prior moves by Commonwealth advisors to the national advisory firm.
Brian Keister, Jody Chiapelli, Sara Hinthorne and Joshua Keister join Raymond James after managing about $357 million in client assets with Commonwealth. They will remain based in Bethalto, Ill., operating as KCH Financial, along with four support staff.
“Raymond James’ client-first culture and extensive resources grant us the flexibility to continue doing what’s best for our clients while positioning us for future growth,” Keister said in a statement.
Joshua Keister and Sara Hinthorne are Brian Keister’s children. He had been with Commonwealth for about 15 years after spending about 14 with American Express Financial Advisors.
Raymond James launched its corporate RIA channel in 2022, in which fee-only IARs work as independent contractors.
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