Two wealth firms – one a newcomer with deep wirehouse roots, the other backed by a seasoned insurance parent – announced new acquisitions Tuesday as they continue to expand in the independent RIA space.
On Tuesday, Indivisible Partners revealed it has brought Golden, Colorado-based Ride Wealth Partners into its nascent platform.
Founded and chaired by former Merrill Lynch executive John Thiel, Indivisible is positioning itself as a modern alternative to traditional wirehouses with technology-driven planning and investment resources.
The addition of Ride Wealth, led by Kevin McCulley, extends Indivisible’s reach into the Rocky Mountain region.
In a release, McCulley cited three reasons for the move: more time to focus on clients, access to integrated technology, and deeper back-office support.
“Having spent over 17 years developing and fostering long-lasting client relationships, I was looking for a partner that truly prioritizes my clients' well-being and financial security over short-term profits,” McCulley said in a statement published Tuesday.
Ride Wealth serves a diverse set of clients, from retirees and small-business owners to nonprofits and public sector employees. Its services include tax-aware investment management, multi-generational planning, trust strategies, and lending solutions.
Thiel emphasized the cultural alignment between the firms. “Ride Wealth Partners' unwavering commitment to personalized client service and entrepreneurial spirit aligns with our mission to amplify advisors' roles in their clients' lives,” he said.
This is the second known team to join Indivisible since Thiel made the venture known late last year. The firm’s first addition was Woodring/LeRoy Capital Advisors, a $640 million team based in Pittsford, New York that broke away from Merrill.
In April, Indivisible announced it was partnering with DPL Financial Partners to offer its advisors a range of commission-free annuity solutions.
Also on Tuesday, Beacon Capital Management, part of Sammons Financial Group, disclosed an agreement to acquire Astor Investment Management, a Chicago-based investment firm overseeing $1 billion in assets. The transaction, expected to close in August, enhances Beacon’s suite of risk-managed strategies by adding Astor’s macroeconomic, rules-based investment methodology.
Astor brings assets across separately managed accounts, unified managed accounts, and mutual funds. The firm’s chief investment officer, Jan Eckstein, will join Beacon as assistant vice president of portfolio design and serve on the investment committee.
“This acquisition is consistent with our ongoing mission to provide financial advisors with sophisticated, diversified investment solutions,” Emily Damman, president of Beacon Capital Management, said Tuesday.
Astor’s CEO, Bryan Novak, will also join Beacon’s investment committee. He said the firm would maintain continuity in its approach: “This partnership allows us to continue delivering on our investment philosophy while offering clients and advisors access to even broader resources and support.”
The deal is the latest episode in Sammons lengthy history of expansion, which has centered on assembling complementary firms to build out a broad, advisor-focused platform in the independent space.. After it acquired Beacon in 2021, it went on to partner with NorthRock Partners in 2023. More recently last week, it announced plans to buy Wealthcare Capital Management, an $8 billion firm focused on goals-based planning.
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
