The July calendar for M&A began with a bang Tuesday, featuring a left-field move by Focus in the Land Down Under and Mercer Advisors' expanding its reach in Massachussets' with a billion-dollar firm primarily led by women.
Focus Financial Partners said its Melbourne-based network firm, Escala Partners, has joined Focus Partners Australia, a new entity that brings together the firm’s holdings in the country under one umbrella. Escala, which serves high-net-worth families, nonprofits and institutional investors, will operate alongside Focus’ other Australian businesses.
“As part of the evolution of Focus’ presence in the Australian market, we are excited by the opportunity to bring Escala together with our other businesses in Australia to build a scaled, premier wealth management organization capable of delivering comprehensive services, deep expertise, and a personalized experience,” said Travis Danysh, chief corporate development officer at Focus.
The move comes with changes to Escala’s leadership team. Ben James, a founding partner and former head of advisory, has been named CEO. Torty Howard will serve as chief operating officer, and Simon Dawkins will continue leading the firm’s capital markets and fixed income division. Danysh is also expected to take on a new role as executive chairman of Focus’ Australian operations.
Escala’s integration marks a step toward more coordinated operations for Focus overseas. “Escala joining Focus Partners Australia is an important next step in its evolution as well as the evolution of our broader company,” Focus CEO Michael Nathanson said in the announcement.
The move in Australia comes after a pair of landmark acquisition announcements at Focus Partners Wealth, welcoming Churchill Management Corporation in May and David Wealth Management in June.
Back in the US, Mercer Advisors has acquired O’Brien Wealth Partners, a woman-owned and led RIA based in Waltham, Massachusetts. The team, which manages around $1.1 billion in assets, will deepen Mercer’s presence in the Greater Boston area. O’Brien serves a mix of high-net-worth individuals, families, and nonprofits, with an emphasis on sustainable investing and multigenerational planning.
Founded in 1986, O’Brien Wealth was looking for a partner that could preserve its values-based model while offering scale and expanded services. “Mercer Advisors brings deep planning expertise, institutional-level capabilities and a genuine respect for how we serve,” said Jill Fopiano, president and CEO of O’Brien. “Just as importantly, they understand the power of diverse leadership and a collaborative culture.”
Mercer said the acquisition aligns with its broader growth strategy and efforts to offer fully integrated family office services. “Jill and the O’Brien team have built one of the most respected advisory firms in New England—defined by integrity, intentional growth, and enduring client relationships,” said Mercer CEO Dave Welling.
The firm’s M&A strategy continues to prioritize cultural alignment and planning-first models. O’Brien’s clients will now have access to services including tax strategy and preparation, estate planning, and corporate trustee support, the company said.
Last week, Mercer celebrated a milestone as its employee ownership program grew to encompass more than half of its 1,300-employee base.
“I think we find universal excitement from the partners that are joining us that we have programs to expand ownership very broadly,” Welling told InvestmentNews in an interview.
Separately, Omaha, Nebraska-based Carson Group announced it had fully acquired Jacob William Advisory, a Maryland-based firm it had been affiliated with since 2016. The move brings approximately $300 million in assets into Carson’s wholly owned network.
Carson Group now counts 28 such offices across its platform.
The acquisition formalizes an already close relationship, with both firms emphasizing advisor development and client-first service models.
“Their transition to becoming wholly owned reflects our shared vision of strengthening client relationships, providing exceptional service and delivering greater value to investors,” said Burt White, CEO of Carson Group.
RBC Wealth Management's latest move in New York adds an elite eight-member team to its recently opened Westchester office.
Stifel – so far - is on the hook for more than $166 million in damages, legal fees and settlements in investor complaints involving Roberts, a 35-year industry veteran.
The giant alt investments platform's latest financing led by T. Rowe Price and SurgoCap Partners, along with State Street, UBS, and BNY, will fuel additional growth on multiple fronts.
Some investors recently have seen million dollar plus decisions by FINRA arbitration panels involving complex products decisions go their way.
New report shines a light on how Americans view wealth today.
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.
