The RIA merger machine continues to rumble at Cetera, Allworth, and Carson Group, which have announced new additions to their platforms in Louisiana, Texas, and Indiana.
Cetera has acquired the wealth management business of Darnall Sikes Wealth Partners, a Louisiana-based firm that serves high-net-worth clients, business owners and their families and manages about $1.9 billion in client assets. The business is joining Avantax Planning Partners within Cetera’s RIA channel, extending a relationship that already linked Darnall Sikes to Avantax.
The Darnall Sikes advisory team serves clients in more than 40 states from four offices across Louisiana and will plug into Cetera’s RIA model rather than its broker-dealer network. An affiliated CPA firm, Darnall Sikes & Frederick, remains independent but has signed a long-term strategic partnership with Cetera to keep serving shared clients.
John P. Armato, president of Darnall Sikes & Frederick, said the partnership with Cetera brings “clear and compelling benefits to our team, our shared clients, and the long-term growth of our business” and reflects a “shared commitment to putting clients first.”
The deal is the latest show of momentum at Cetera's RIA & branches channel, which launched in June last year to house independent RIAs, its owned W‑2 wealth businesses, and a supported-independence branch model.
RIA and branches channel leader Jen Hanau said the expanded relationship with Darnall Sikes underscores Cetera’s focus on backing advisors “throughout every phase of their professional journey.”
Financial advisor Jed Inzerella at Darnall Sikes said the deal was structured to ensure stability for clients while expanding the services the team can offer and giving the practice a clearer long-term growth plan.
Cetera's acquisition of the Darnall Sikes wealth practice echoes another move at Merit this week, in which it acquired SSC Wealth while establishing a long-term partnership with SSC CPAs + Advisors.
Allworth Financial is expanding its Texas presence with the acquisition of Grunden Financial Advisory, a Denton-based wealth management firm overseeing roughly $500 million in assets. Founded 25 years ago, Grunden Financial focuses on multigenerational families in North Texas and operates from offices in Denton and Addison.
The six-person team – including partner advisors Ricky Grunden Sr., Dave Ragan, and Susy Thomas – will remain in their current roles. They will gain access to Allworth’s centralized operations, compliance and technology stack, as well as its broader planning resources.
Allworth chief executive John Bunch said Grunden’s philosophy fit with the firm’s broader M&A strategy, pointing to the “deep, trusted relationships with clients across generations” at Grunden.
The transaction extends Allworth’s approach of building regional hubs through acquisitions, including a Massachusetts-based fiduciary planning firm last month.
The Lightyear Capital-backed RIA, which has completed more than 40 deals since 2018, has flagged Texas – including Houston and the broader North Texas region – as a priority growth market.
For its part, Carson Group is growing through affiliation rather than acquisition with the launch of Bixler Financial in Northeast Indiana.
Advisors Keith Blythe and Jaime Gerber have joined Carson to start the independent practice, which reported about $145 million in assets under management. The firm operates out of Decatur and Geneva and is designed to expand the existing Bixler Insurance business into wealth management.
Blythe, a longtime retirement and planning-focused advisor, and Gerber, who moved into an advisor role after nearly two decades as an assistant in financial services, are positioning Bixler Financial as a local shop that can lean on a larger platform.
The former colleagues are supported by administrative assistant Andrea Schoch.
The new practice will focus on retirement and investment advice for individuals, families and business owners in the region.
“The resources, technology and investment expertise we now have access to will help us deliver a truly comprehensive client experience,” Blythe said.
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