RIA deal activity picked up substantially with a burst of deals on Tuesday, led by billion dollar-plus partnership reveals by Beacone Pointe and Carson Group.
Beacon Pointe Advisors has acquired Hemington Wealth Management, a $1.2 billion RIA with offices in Falls Church, Virginia, and Chicago. The deal marks Beacon Pointe’s fifth female-led team addition this year and brings its assets under advisement to approximately $55 billion.
Hemington, led by experienced advisors Eileen O’Connor and Jen Dawson, holds out a focus on high-net-worth women and its research into the financial needs of female clients.
O’Connor said in a statement that the firm is “committed to changing the outcomes of our clients’ lives” and is looking forward to expanding its capabilities with Beacon Pointe.
Dawson added that Beacon Pointe “shares our passion for empowering women and delivering thoughtful, values-driven advice,” describing the partnership as a natural fit for both teams.
"Beacon Pointe's growth has always been guided by one goal: partnering with those who place people and purpose above all else," said CEO Shannon Eusey.
Last month, Beacon Pointe extended its presence in the Greater Boston area with Sensible Financial Planning, a $944 million AUM fiduciary firm. It also established its first presence in Washington, DC with The Family Firm, a Bethesda-based RIA managing $857 million in assets.
Omaha, Nebraska-based Carson Group has acquired Total Wealth Planning, a Cincinnati-based RIA with $1.45 billion in assets under management.
The 19-person team – led by Managing Partners Robert Lemmons, Robert Siegmann, and David Wilder – will rebrand as Carson Wealth and becomes the firm’s 34th wholly owned office.
The acquisition is Carson’s largest to date and caps a year of record growth for the firm.
Burt White, CEO of Carson Group, said the addition of Total Wealth Planning reflects the firm’s strategy to “enter new markets with exceptional talent, deepen our bench of next-generation leaders and help advisors grow intentionally while serving more families with excellence.”
Lemmons said the move to Carson was motivated by a desire to “deliver more to our clients,” while Siegmann highlighted the appeal of Carson’s entrepreneurial culture and flexibility.
After officially crossing the $50-billion AUM mark in October, Carson has extended its 2025 deal count to 22, setting itself up as one of the top drivers of another record-driving year for RIA M&A.
Elsewhere, Salt Lake City-based Diversify has acquired Harding Financial and Insurance, a Boston advisory team overseeing $650 million in assets.
The five-advisor group – led by Ben and Kim Harding, who were previously with New York Life and Eagle Strategies – joins Diversify’s multi-affiliation platform, which now manages approximately $11.2 billion in assets.
The deal follows Diversify’s recent additions of Boston Wealth Advisory Group from Commonwealth in September, and Inventa Wealth Advisors in June.
“Taking care of our clients remains our top priority and we felt that Diversify provided us with the independence, resources, and personal touch that will allow us to continue to serve our loyal clients,” Ben Harding said.
Diversify CEO Ryan Smith described the Harding team as “very experienced advisors who have built an amazing business,” and Eric Edson of Practice Solutions, who led the deal, said the alignment between the two firms was “especially rewarding.”
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