Wealth Enhancement and Bluespring Wealth Partners have unveiled their latest independent RIA partnerships, expanding their national footprints through acquisitions in the South and Midwest.
Wealth Enhancement has acquired XO Wealth Management, a Dallas-based RIA overseeing more than $516 million in client assets. The six-person team, including three advisors, will continue operating under the names XO Team and Skyline Team within Wealth Enhancement.
Founded by Managing Director Matthew Fuller and co-led by Managing Director Stephen Valelly and First Vice President Carl Carlos, the firm provides financial planning, wealth preservation and risk management services, with a focus on high-net-worth and ultra-high-net-worth clients. According to the firm, its advisors bring more than one hundred years of combined experience to the table.
The deal, announced on Friday, marks Wealth Enhancement’s eleventh office in Texas and brings the firm’s total assets to more than $107.5 billion.
It's also the RIA giant's second deal announcement this week, following its acquisition of $4.3 billion Marcum Wealth in Cleveland.
Bluespring Wealth Partners, meanwhile, announced its acquisition of Charter Capital Management, an RIA based in Brookfield, Wisconsin. The four-advisor CCM team manages more than $400 million and is led by principals Joel Hassler and Dan Glaser.
Founded more than forty-five years ago, Charter Capital Management offers investment management, tax and financial planning, estate planning, retirement planning and debt management services.
According to the statement unveiling the deal, CCM intends to leverage Bluespring’s platform to expand its capabilities and support long-term succession planning for designated successors Alexandra Cali and Samuel Verhulst.
Bluespring, a subsidiary of Kestra Holdings, has been a failrly active player in the RIA acquisition space, targeting firms with both fee-based and hybrid models. Last month, it welcomed Kentucky-based Reliant Wealth Planning, which reportedly oversees more than $560 million in AUM.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.
The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.
Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
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.