RIA wrap: The Mather Group enhances Bay Area presence as Prosperity Capital bolsters C-suite

Amid another week of frenetic activity in the RIA space – featuring new strategic partnerships for Summit Financial and Hightower, a new private backer for Lido Advisors, and Focus Financial Partners naming a new CTO, to name some – two other firms have announced significant moves of their own.

In California, the Mather Group has entered into a strategic alliance with Pillar Wealth Management, a Walnut Creek-based firm with more than $200 million in assets under management.

The deal marks The Mather Group’s fourth acquisition in the San Francisco Bay Area and its 21st transaction since 2018.

The move aligns with the firm’s goal of establishing a stronger West Coast presence and expanding its offerings for high-net-worth and ultra-high-net-worth clients. Chicago-based Mather Group manages more than $14 billion in client assets across 12 offices nationwide.

Pillar Wealth Management was co-founded by Hutch Ashoo and Chris Snyder, who collectively bring more than three decades of experience advising affluent families. Their practice focuses on customized investment and retirement strategies, as well as tax and estate planning support.

“This partnership allows us to maintain our high-touch, boutique service model while gaining access to expanded resources and a broader platform to better serve our clients,” Ashoo said in a statement on Wednesday.

Snyder added, “Since our inception, we have been dedicated to goals-based planning and low-cost, tax-efficient investment portfolios designed to meet each client’s risk tolerance.”

Terms of the alliance with Pillar were not disclosed.

The Mather Group operates as a fee-only RIA and has built scale through a series of acquisitions while maintaining its commitment to client-centric planning.

Meanwhile, Cleveland, Ohio-based Prosperity Capital Advisors has added two senior executives to its C-suite.

Stan Milovancev has been named co-chief executive officer, while Scott Rister has been appointed co-president and chief financial officer. The appointments are part of a broader leadership realignment aimed at supporting the firm’s next growth phase.

Prosperity Capital Advisors oversees just over $3.7 billion in assets for its clients as of March 31.

Milovancev joins Jason L Smith, who will transition from co-CEO to chairman. Rister will work alongside Dave Alison, who remains as co-president while shifting focus to platform expansion and advanced planning.

“Stan’s integrity and deep industry expertise make him the ideal partner to help carry our mission forward, while Scott’s strategic perspective and operational acumen makes him an asset for enhancing our future,” Smith said.

Prosperity Capital, which was selected as one of InvestmentNews' Best Places to Work for Financial Advisors in 2025, supports independent advisors nationwide with platform services, investment solutions, and practice development tools.