The momentum in RIA M&A picked up substantially this week, with mega-RIA Mercer advisors revealing a landmark deal as planning-focused firms United Capital and Lido Advisors each announcing billion dollar-plus transactions on Tuesday.
Mercer Advisors has acquired Beach Freeman Lim & Cleland, a Southern California-based tax firm, in a move that marks the company’s first addition of a tax-focused RIA. The deal strengthens Mercer Advisors’ family office platform and expands its reach across Los Angeles, Orange County and the Inland Empire, where BFLC operates offices in El Segundo, Irvine and Ontario.
The acquisition brings 20 tax professionals into Mercer Advisors, adding expertise in tax, accounting and business advisory services for high-net-worth individuals, families and business owners. The firm’s client base spans industries such as healthcare, real estate, law, construction and professional sports.
Jeremiah Barlow, chief solutions officer at Mercer Advisors, said the partnership reflects a strategic focus on tax as a cornerstone of the company’s family office services. Pointing to founder Kendrick Mercer's roots as a tax and estate attorney, he said “tax professionals have long played a core role in our family office delivery.”
Doug Beach, managing partner at BFLC, said the firm’s legacy is built on “delivering the personalized attention of a large, local firm, grounded in a deep understanding of our clients’ unique needs.”
All BFLC team members will join Mercer Advisors, with equity ownership opportunities for full-time employees. The move follows Mercer Advisors’ ongoing strategy of building a comprehensive family office platform – including its October acquisition of LA-area firm Singer Burke, which has a focus on clients in Hollywood – supported by a national tax team of more than 120 professionals.
United Capital Financial Advisors, the subsidiary of Creative Planning, has acquired Apexium Financial, a nationwide RIA with offices in the Northeast, Mid-Atlantic and Southwest.
The deal, announced on Veterans Day, adds over $4 billion in assets under management and a team with more than two decades of wealth management experience.
Jim Rivers, president of United Capital, said in a statement that Apexium Financial has “built a successful firm with a strong record of growth through multiple referral channels.” He highlighted the shared focus on growth, client service and a financial planning-led approach.
Apexium’s managing partners said the decision to join United Capital was driven by a shared goal of providing a more personalized approach for clients’ financial strategies. The firm will now have access to United Capital’s suite of in-house wealth management offerings, including estate planning, income tax planning and investment services. This marks United Capital’s second acquisition of the year, following its purchase of The Paul Group in September.
Also on Tuesday, Lido Advisors, the Los Angeles-based wealth advisory firm with more than $38 billion in assets and 45 offices nationwide, unveiled a partnership with Fountainhead Advisors of Warren, New Jersey.
Fountainhead, which manages over $1.2 billion in assets and operates an additional office in San Ramon, California, is known for its planning-first approach and expertise in insurance strategies for high-net-worth clients.
Ken Stern, president of Lido Advisors, said the partnership expands Lido’s national footprint and brings in a team “deeply aligned in culture, values, and vision.” Stern added that the two firms are “focused on creating exceptional value and meaningful experiences for our clients.”
Marc Rock, managing partner at Fountainhead, said the partnership will allow his team to “elevate [its] mission – expanding our access to advanced planning resources and sophisticated investment capabilities.”
The Veterans Day announcement builds on other acquisitions Lido revealed this past summer: its deal for Michigan-based RIA Exchange Capital Management in June, and the partnership with Olympus Wealth Management it announced the following month.
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