Two national RIA firms have announced separate acquisition deals that expand their presence in high-net-worth markets and deepen service offerings for multigenerational families and business owners.
Wealth Enhancement, which manages $107.5 billion in assets, said it will acquire Marcum Wealth, a Cleveland-based RIA overseeing more than $4.3 billion in client assets.
Meanwhile, AlphaCore Wealth Advisory is merging with Callan Capital, a San Diego-based firm with $2.4 billion in assets under advisement.
Both deals are expected to close in the second quarter of 2025, pending customary closing conditions. Terms of the transactions were not disclosed.
Founded in 2006, Marcum Wealth operates 11 offices across the Midwest, Mid-Atlantic, New England and Southeast regions. The firm provides wealth management services for high-net-worth families, along with business exit planning and retirement plan consulting.
Jeff Dekko, chief executive of Wealth Enhancement, highlighted the team's accounting firm background, enabling them to "deliver advanced planning to complex clients, such as business owners and multi-generational families."
Jim Cahn, chief strategy officer of Wealth Enhancement, added that the transaction strengthens the firm's regional presence.
“[T]his partnership will allow us to tap into new markets nationwide, including Marcum Wealth headquarters in Cleveland, Ohio,” he said in a statement on Wednesday.
The deal builds on Wealth Enhancement's continuing acquisition strategy, which included last month's addition of the Capstone Team in the Pacific Northwest.
Meanwhile, AlphaCore’s merger with Callan Capital is set to bolster the firm’s ultra-high-net-worth and family office services. The combination will also broaden AlphaCore’s geographic reach, adding a presence in Austin, Texas, and enhancing its footprint in both San Diego and Denver.
The combined firm will rank among the largest RIAs in California, according to the announcement.
Callan Capital, founded in 2007, serves business owners, corporate executives and multi-generational families with an emphasis on tax-efficient strategies, estate planning, and philanthropic advising. Its 24-person team will be integrated into AlphaCore’s operations.
The firms said the merger will accelerate the launch of AlphaCore Family Office Services, a new business line offering expanded estate, tax, and philanthropic planning support. As part of the combination, Trevor Callan and Tim Callan will join AlphaCore’s management committee, while Ryan Callan will lead the new family office division.
Aidan Walsh, AlphaCore's head of corporate development, highlighted the firm's "disciplined and selective inorganic growth strategy," including its previous mergers with All Season Financial and enTrust Wealth Advisors.
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