Cerity Partners is starting the April M&A calendar with a landmark merger in Tennessee, while Carson announces another wholly owned location and Integrated welcomes a breakaway team from Ameriprise.
Cerity Partners said it has merged with Nashville-based Covenant Partners, marking Cerity’s entry into Tennessee and bringing a nearly three-decade-old boutique under the Cerity name.
Covenant, founded in 1997, has focused on high-net-worth individuals and families with a family office-style approach, and it will now operate as Cerity Partners.
Claire O’Keefe, partner and head of partner development at Cerity Partners, touted Covenant Partners as “a firm built by talented professionals” with a “culture rooted in trust and integrity.” She also pointed to Nashville as “one of the most dynamic and fast-growing markets.”
Covenant cofounder Todd Glisson framed the move as a way to broaden capabilities without changing the day-to-day client experience. “Clients of Covenant Partners will benefit from Cerity Partners’ full suite of wealth management and institutional investment services,” Glisson said, while continuing to receive “the personalized, high-touch experience” they expect.
Cerity's expansion into Nashville follows last month's double-deal announcement through which the firm extended its reach in Illinois and Southern California.
Carson Group said it acquired Buckley Investment Group, a Walla Walla, Wash., team overseeing about $120 million in client assets that will rebrand as a Carson Wealth office.
The practice was founded in 2003 by John Buckley and had joined Carson as an independent office in 2023, making the deal less of a first introduction and more of a decision to go all-in on Carson’s integrated model.
Following its addition of Furstenau Financial from LPL last month, the Walla Walla team has become the 42nd fully integrated office for Carson, which now reports more than $57 billion in AUM.
Buckley said the shift to full integration is aimed at preserving the practice’s client relationships while adding institutional support. “Strengthening this partnership with Carson and becoming fully integrated ensures that our clients and our team have the strength, stability and resources of a larger organization,” he said in a statement Wednesday.
Integrated Partners announced that Brick by Brick Wealth Advisors, a Denver-based team led by Kent Zeidman, has joined its platform from Ameriprise with about $609 million in assets under management.
The national financial planning and RIA firm serving more than $25 billion in assets under advisement positioned the addition as part of a push to deepen its planning bench for high-net-worth and ultra-high-net-worth clients.
The Brick by Brick team includes Zeidman, advisor Darren Levinthal, next-generation advisors Erica Hinrichs and Cody Bartusiak, and additional staff across investment, planning and client service roles.
Adrian Duran, vice president and head of advisor recruiting at Integrated Partners, underscored Brick by Brick's “clear and ambitious roadmap for growth,” adding that Integrated’s resources should help the team expand “particularly in the ultra-high-net-worth space.”
Zeidman, who'd been registered with Ameriprise since 2001 according to his BrokerCheck record, said the move is meant to support its upmarket expansion while keeping its autonomy and service standards intact.
Brick by Brick Wealth Advisors marks Integrated's thirdteam addition this year, following Fair Street Advisors in January and Kansas-based Pisces Wealth that same month.
Choice anxiety, prestige bias, and the temptation to make selections based on outsourced confidence are just some of the parallels between investing and the world of wine tasting.
Regulators found Bank of America's monitoring software had a known flaw Merrill left uncorrected for years.
While AI has become a go-to research tool for affluent investors, new HSBC research suggests human advisors remain the deciding voice when investment decisions are made.
A 5-4 ruling preserves the Federal Reserve's independence for now, but the legal fight over presidential removal power is far from settled.
For years, large firms have been facing penalties and questions from regulators over interest rates for clients’ cash accounts.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
