Credent Wealth Management is expanding its presence in Michigan with the acquisition of TFG Advisors, a $420 million RIA based in Auburn Hills and Ann Arbor. The deal brings Credent’s total assets under management to nearly $4 billion and marks its second and third office locations in the state.
TFG Advisors serves roughly 400 clients, including business owners, retirees, and high-net-worth individuals. The firm’s seven-person team, including principals George Barnhart, Terry Hirsch and Paul Reile, will remain in place under the Credent name and continue operating from their current offices.
“Their culture, values, and Midwest roots align perfectly with ours, and we're excited to welcome such a talented group of professionals to the Credent family,” David Hefty, CEO of Credent Wealth Management, said in a statement announcing the acquisition.
Founded in 2018, Credent has now completed eight acquisitions in the past three years and 13 overall since its launch.
The firm has been on a steady growth trajectory, particularly since it secured a strategic investment in last year from Crestline Investors, an alternative asset manager with $18 billion in AUM. That investment has helped support ongoing M&A activity and the expansion of its turnkey asset management platform, Credent Advisor Solutions.
The TFG deal supports Credent’s strategy to grow through partnerships that offer continuity for clients and long-term succession plans for advisors. According to one piece of research by Cerulli, almost 40% of advisors across more than 18,000 independent advisory firms within the industry are expected to retire over the next decade, with at least a third lacking a formal succession plan.
“So many advisors are focused on the business and they’re not planning for their own retirement,” Stephen Caruso, associate director at Cerulli, has said on the topic. “If they’ve been very successful, they see no reason to hang up spurs, so they are delaying succession planning.”
TFG’s principals will continue to lead the local offices, while clients will gain access to expanded services, including broader investment strategies and institutional-level offerings from Credent’s Private Wealth team.
“This partnership ensures continuity for our clients and our team while opening the door to enhanced solutions and long-term growth,” said George Barnhart, managing partner and director of operations and marketing at TFG Advisors.
The acquisition also strengthens Credent’s regional presence across the Midwest. With the addition of TFG, the firm now serves more than 2,800 clients across nine locations. Its other recent acquisitions include Clarify Wealth Management in Ohio and Indiana, as well as Euclid Advisory and Ward Wealth Management Services.
Credent intends to invest further in TFG’s Ann Arbor office, citing its established local relationships and potential for continued growth.
The bank's new training initiative aims to add hundreds of advisors as it expands its mass-affluent advice unit, according to Barron's.
The lawyers' group warns that adjudicating certain claims externally and limiting punitive damages, among other suggestions, could hurt investors.
With Parkworth Wealth Management and its Silicon Valley tech industry client base now onboard, Savant accelerates its vision of housing 10 to 12 specialty practices under its national RIA.
The wealth tech giant is unveiling its new offerings, designed for advisor productivity and client engagement, as investors and experts continue to grapple with the implications of AI.
Meanwhile, Merchant is continuing to expand its support for RIAs by partnering with a South Dakota-chartered trust company.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
