PE-backed RIA aggregator Waverly Advisors has inked a new deal to deepen its presence in the Pacific Northwest, while Carson Group made a move on the opposite side of the US with a new independent advisory partner location in New York.
Meanwhile, Maridea Wealth Management, a roughly $1 billion RIA headquartered in New York, has extended its reach in Phoenix with a tax-focused planning practice.
Waverly Advisors is extending its reach in the Pacific Northwest with the acquisition of McBride Financial Advisors, a Seahurst, Washington, practice founded by Michael McBride.
The deal follows Waverly’s acquisition of Pure Portfolios in Lake Oswego, Oregon, making it the Birmingham, Alabama-based second move in the region this year.
McBride will join Waverly as a wealth advisor and brings about $181 million in assets under management. His firm offers comprehensive wealth management for high-net-worth clients, including financial planning, retirement planning, and estate and trust work, along with tax-sensitive investment implementation and philanthropic strategies.
“As Waverly continues to thoughtfully expand our footprint, acquiring firms that lead with integrity and have a deep sense of responsibility to their clients is our top priority,” said Justin Russell, president and CEO of Waverly.
McBride framed the transaction as a way to add scale without shifting away from a relationship-driven model. “McBride’s mission has always been to provide responsive and personalized services grounded in trust and transparency,” he said.
The McBride deal is Waverly’s 31st transaction since it accepted an equity investment in December 2021 from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform.
The firm now oversees about $30.4 billion in assets as of March 16, serving high-net-worth households, corporate retirement plans and institutional clients.
Carson Group, which manages more than $57 billion in assets across more than 165 partner offices in the US, is expanding its East Coast footprint.
Shortly after adding Furstenau Financial as a wholly owned Carson Wealth location, the firm announced Tuesday it is bringing on Agrillo Financial Group in Bethpage, New York, as a new independent office.
The Long Island practice, founded in the mid-1990s by Katherine “Dee” Agrillo and now led in day-to-day operations by her son, Theodore “Ted” Agrillo III, oversees roughly $160 million in advisory and retirement plan assets.
Agrillo Financial Group has grown as a family-run firm focused on individuals, families and small business owners, with a particular emphasis on women, widows and pre-retirees navigating major life transitions.
“Our practice has always been about relationships, trust and making people feel like family,” said Ted Agrillo. As the firm reached capacity with its existing tools, he said it needed a partner with “the right technology, investment platform and operational support already in place” to keep service levels steady while pursuing growth.
The Bethpage office will retain its local ownership and brand while tapping into Carson’s technology, integrated investment platform and operational resources. It expects to add junior advisors and support staff over time to bolster continuity planning for clients.
In Phoenix, Maridea Wealth Management is doubling down on tax-focused advice with the acquisition of Chichester Financial Group, its second office in the market after entering the region in September.
The deal brings in a team known for tax-smart financial planning and tax-aware investment strategies for individuals, families ,and business owners. Founder John J. Chichester Jr. will join Maridea as senior financial planner, alongside colleagues Stephanie Bawolek, Dawson Gonwick, Toni Solberg and Jonathan Blaha.
The group expands Maridea’s capabilities in areas such as 401(k) plan design, fiduciary support, participant education and tax-efficient retirement planning – areas where advisors increasingly look to differentiate as tax and investment conversations converge.
“We are incredibly excited to welcome John and his team to Maridea,” said Mier Wang, founder and CEO of Maridea. “They have built an outstanding business by investing in great people, fostering a strong culture, and achieving consistent growth.”
“By coming together, we’re able to expand the tax-smart planning and retirement solutions we provide while continuing to deliver exceptional service to clients,” Chichester said.
Maridea now counts seven offices and more than 40 professionals managing about $1 billion in assets nationwide.
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