Advisor moves: Indie platforms add teams with $1.5B in assets

Three independent wealth management firms announced new advisor additions this week totaling more than $1.5 billion in client assets.

Dallas-based Ascentis Independent Advisors drew the largest single haul, welcoming four advisory practices - Capital Waypoint, Citrus Wealth Management, IMPACT Financial Strategies and Rooted Wealth Management - that together brought more than $1 billion in assets to its platform.

The four teams, which had operated as a unified Raymond James Financial Services branch since 2022, span offices in California and Colorado. All four will continue to use Raymond James as their primary custodian.

"Experienced advisors want the freedom to run their practices and the support to keep improving what they can deliver for clients," said Michael Mansur, CEO of Ascentis Holdings. "Our role is to support their businesses while preserving their autonomy."

The practices collectively bring decades of client-facing experience and serve a range of client types, from retiring utility workers and healthcare families in California's Inland Empire to business owners and philanthropically focused clients in Fort Collins, Colorado.

IMPACT Financial Strategies, the largest of the four at approximately $303 million in assets as of Sept. 15, 2026, was founded in 2019 and is led by Justin Davis, a financial advisor with more than 25 years in the industry. Capital Waypoint, led by 30-year industry veteran Jarrod C. Martinez, joins with approximately $256 million. Rooted Wealth Management and Citrus Wealth Management add approximately $275 million and $230 million, respectively.

Clint Sorenson, chief investment officer of Ascentis Asset Management, said the firm's investment infrastructure was a meaningful draw. "Established advisors want to keep expanding what they can offer clients without having to build and manage every new capability themselves," he said.

The RIA channel has seen consolidators fuel a wider recruitment boom, with Cerulli Associates projecting an 11.8% headcount increase in the independent registered investment advisor channel by 2028 - more than double the projected growth rate of the next-fastest-growing channel. That tailwind has benefited platforms of all sizes, from large aggregators to boutique affiliation models like Ascentis.

Prospera expands in Florida

Independent broker-dealer and registered investment advisor Prospera Financial Services, also headquartered in Dallas, separately announced that John Farren of St. Pete Beach, Florida, had joined its platform as managing director of Farren Private Wealth.

Farren brings more than three decades of experience advising high-net-worth individuals, institutional clients and business owners, with a focus on retirement planning, 401(k) rollovers and custom portfolio construction. He holds a designation through the Private Investment Management program, a specialized credential that permits discretionary investment decisions on behalf of clients.

"After my time at larger firms, I was drawn to Prospera's scale and personalized support," Farren said. "I was looking for the right balance of flexibility and resources, with incredible back office support, that enable me to deliver the exceptional service my clients deserve."

Prospera president and chief operating officer Tarah Williams said Farren's arrival reflects the firm's ongoing effort to attract advisors who share its service philosophy. Founded in 1982, Prospera supports 230 independent financial advisors and more than $30 billion in client assets, and it maintains a 2.5-to-1 advisor-to-home-office staff ratio - a figure the firm cites as central to its boutique positioning.

Among RIAs with at least $250 million in assets under management, 75% hired employees during 2025 and the same share plans to hire in 2026, according to Charles Schwab's 2026 RIA Benchmarking Study, a sign that growth-minded firms are treating recruitment as a long-term strategic priority rather than a reaction to immediate needs.

That dynamic has created a competitive market for established advisors, as independent platforms compete aggressively on support infrastructure and practice economics to differentiate themselves.

Daymark also grows Florida presence

A third announcement came from DayMark Wealth Partners, a Cincinnati, Ohio-based RIA and member of the Dynasty Financial Partners network, which opened its fourth Florida office in under 18 months.

The DeLand location, which began operating Oct. 2, 2026, is led by managing partners Sidney Taylor and Jim Huster, who joined from Morgan Stanley. The pair brought $250 million in client assets and a practice focused on multigenerational family planning and institutional investment consulting. DayMark's Florida expansion follows locations in Fort Lauderdale, Stuart and Sarasota.

"Sidney and Jim bring decades of experience in multigenerational private-client and institutional consulting," said Mike Quin, DayMark's founding partner and CEO. "They sharpen our core expertise while extending our reach in a state that continues to attract affluent families and business owners from around the country."

Shirl Penney, founder and CEO of Dynasty Financial Partners, pointed to the firm's growth since its founding in 2022 as evidence of a clear market position. "DayMark's mission-driven approach to planning across generations is resonating with clients and advisors," he said.

Taken together, the week's announcements reflect a wealth management landscape in which advisors transitioning from wirehouses to independent platforms are increasingly doing so in groups - and in some cases, after years of working within a shared branch structure - signaling a growing comfort with coordinated moves as firms build out their affiliation infrastructure.