RIA moves: Xcelsior adds $770M group from Baird

Scottsdale-based Xcelsior Advisor Partners announced that Duffy Mathias Private Wealth, a wealth management team previously with Baird Wealth Management, has joined its platform.

The team, led by Jacob Duffy and David Mathias, manages roughly $770 million in client assets and brings in more than $4.6 million in annual revenue.

Both advisors carry industry recognition: Duffy has appeared on top advisor lists by Barron's and Forbes across multiple years, while Mathias has also received best-in-state and next-gen wealth advisor accolades from Forbes.

Duffy called out "the alignment – not just philosophically, but structurally" between his firm and Xcelsior, adding that the ability to retain business control while accessing deeper operational and investment support allows the team to "operate at a higher level" for clients.

Xcelsior is led by co-CEOs Mark Peterson and Matt Curley, both formerly senior leaders at Baird Private Wealth Management. Peterson said the firm's role is to "create an environment" where teams like Duffy Mathias can "continue to grow on their own terms, with the right support behind them."

Curley pointed to what he described as a broader industry pattern. "Some of the most respected advisory teams are choosing to operate with greater control, stronger alignment, and a long-term ownership mindset," he said.

Advisory Services Network enters two new states

Advisory Services Network separately announced the addition of two RIAs to its platform, planting brand new stakes in the Midwest and the Sun Belt.

ASN has officially brought on Dakota Wealth, based in South Dakota with approximately $400 million in assets.

It also welcomed Stomata Capital Private Wealth Management, a Las Vegas-based firm managing around $180 million. 

The additions come after a strong 2025 for the ASN platform, which saw its total assets cross the $10.5 billion mark as it added roughly 20 advisory groups and achieved net growth of $2.1 billion.

“Advisors are intelligent people and they’ve realized over the last few years that a lot of what they’ve been sold when it comes to independence is a mirage,” Trey Prescott, head of business development at ASN, said in a statement.

“Too often, it’s been ‘meet the new boss, same as the old boss,’ as they move from a wirehouse, IBD, bank, or existing IA to the aggregator firms backed by private equity." 

The firm, which celebrated its 15th anniversary, said the new partnerships reflect continued geographic expansion and a steady pipeline of advisors seeking to go independent.

ASN founder and managing member Tom Prescott, a veteran with 45 years of industry experience, highlighted the firm's mission of "[serving] advisors who want to own their books of business, control their futures, and stay focused on their clients without having to manage all the infrastructure themselves."

Rossby names new compliance chief

Melbourne, Florida-based enterprise RIA Rossby Financial has appointed Marissa Harris as its chief compliance officer.

Harris brings nearly two decades of financial services experience, having previously served as founder of JBD Risk & Compliance, senior director of business line risk management at Synchrony, chief compliance officer at JLA Securities, senior director of business line risk management at Ally Invest, and compliance manager at LPL.

Rossby Financial founder and Andrew J. Evans described Harris as "a powerhouse in compliance throughout her career" whose thoroughness "will benefit not only our firm but the advisors we serve."

Harris said that while artificial intelligence "will bring a lot of efficiencies to the financial services industry, it also requires a deep understanding and strong guardrails to ensure compliance" – an area she identified as a key focus in her new role.

Rossby, which was founded roughly three years ago, positions itself as an open-architecture platform serving a range of advisor business models. Harris is the third leadership addition announced in recent weeks, including the recent introduction of industry expert Grier Rubeling to a business development and advisor transition role.