Amid a busy week of dealmaking leading into the Columbus Day weekend, Merit Financial Advisors and Hightower Signature Wealth unveiled billion-dollar acquisitions extending their respective national footprints, while independent RIA Trilogy Capital welcomed a specialized billion-dollar practice to mark its largest deal of the year.
Merit, the Atlanta-based acquirer that operates both independent broker-dealer and RIA businesses, acquired Moldenhauer & Associates of Orchard Park, N.Y.
The practice manages about $1.1 billion for nearly 1,900 households. Brett Moldenhauer and the firm's 12 employees will stay in their Orchard Park office, which gives Merit its first base in the greater Buffalo market.
Richard Moldenhauer, Brett's father, founded the business. He began in life insurance and later turned the practice into a financial planning and wealth management firm. Brett Moldenhauer joined more than 20 years ago. His multigenerational team works mostly with clients who are nearing retirement or already retired.
Growing mainly through referrals, the practice has expanded from under $150 million when it initially affiliated with Commonwealth Financial Network in 2016 to more than $1 billion today, and it expects to bring in about $100 million of new assets this year.
From a next-gen continuity standpoint, the business is well-placed: three advisors in their mid-to-late 30s have each been with the firm for more than a decade, and a fourth has been there for more than four years.
"As a business grows, succession and continuity become about much more than the individual owner," Moldenhauer said.
This is Merit's 63rd acquisition overall and its 12th this year, putting its previously stated target of 15 deals for 2026 within striking distance. It is also the 10th former Commonwealth team to join Merit.
As of Sept. 12, Merit reported $32.92 billion in assets across more than 70 offices, including $25.6 billion in advisory assets, $2.5 billion in brokerage, $3.02 billion in employer plans and $1.8 billion in ESOP assets.
"Succession does not have to mean exit," said David Wahlen, Merit's executive vice president of strategic partners, pointing to the Moldenhauer team's "experienced next-generation team, strong organic growth and significant opportunity."
Mega-RIA Hightower has moved Synergy Capital Solutions, a practice based in Bloomfield Hills, Mich., into its centralized Hightower Signature Wealth platform.
Synergy, which had about $1 billion in assets under management as of June 30, has been a Hightower partner since 2017. The practice servces a diverse base of clients from across the country with a bench of 15 professionals, including seven advisors.
Mark Burns leads the firm as co-founder, chief executive and chief investment officer. Jordann M. Andrusiak serves as advisor and chief operating officer, while Eric M. Nahat is an advisor and co-CIO.
"Joining HTSW gives us a stronger foundation to carry on the legacy we have created over the past 42 years," Burns said.
Synergy says it plans to keep office space in the Bloomfield Hills, Naples, Fla., and Lebanon, Pa., areas.
Hightower said its Signature Wealth platform has grown to about $40 billion in AUM as of June 30, with over 160 advisors across more than 35 locations. The platform has been absorbing practices at a healthy pace since launching a year ago, most recently agreeing to acquire a boutique firm based in Massachusetts late last month.
Trilogy Capital of Irvine, Calif., acquired Mountain Capital Investment Advisors of Westminster, Colo. Mountain Capital has spent 15 years as a standalone SEC-registered investment adviser and has more than $1 billion in total client assets.
The deal, which Trilogy described as its largest of 2026, represents its 11th office and second location in Colorado. The firm also has operations in California, Arizona and Massachusetts.
Brandt Burns, a Marine Corps veteran and former airline pilot, founded Mountain Capital in 2011. The firm serves individuals, families and small businesses, and it specializes in aviation professionals, and its staff includes current or former pilots and airline leaders
Mountain Capital also offers tax preparation and consulting services, including interview preparation for pilots and aviation professionals. That service was developed by co-founder Michelle Burns after 14 years as a senior manager
Trilogy said Mountain Capital's services would be combined with Trilogy Tax & Consulting, an affiliated company. Mountain Capital will be keeping its brand, and its leadership, advisors and staff will remain in place.
Trilogy was founded in 1999 and is led by co-founder and Chief Executive Jeff Motske. In 2024, Toronto-based Peloton Capital Management took a minority stake in Trilogy, which was then operating as Trilogy Financial Service.
"As the wealth management industry grows more complex, remaining independent may no longer be the best option for achieving strategic growth plans and supporting client needs," said Jason Inglis, Trilogy's chief development officer.
The SEC-registered RIA advises on more than $1 billion in client assets, with no advisory fee through 2027 and no human financial advisors.
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