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Dealmaking may indeed be picking up elsewhere as private equity returns to post-post-COVID markets eager to put mountains of pent-up powder to work, but it never truly waned in the registered investment advisory space.  

Still, after what some industry experts are calling the most active quarter in nearly a decade, this week may have beaten every other. No less than 14 deals and a couple of new launches were announced, as well as a bevy of talent grabs. In all, more than $22 billion in client assets were on the move.  

"The first quarter of 2024 wrapped as the most active in wealth M&A history, which was then followed by this week’s record activity," according to MarshBerry VP of Financial Advisory Rob Madore. “More than 10 transactions were announced, and five that were larger than $1 billion in assets under management.”

In addition to earlier reported news, OneSeven scored a former Edelman advisor, Sequoia Financial Group and OneDigital both picked up indie firms in Houston, Ashton Thomas established a third Colorado location with a duo from WealthSource, Bison Wealth snagged a pair from Key Private Bank and Evermay Wealth Management picked up another Virginia firm in its fifth acquisition.  

In earlier reported deal news:  

  • $500M Multi-Gen Team Joins Stratos Wealth from RBC 
  • Clearstead Advisors Picks Up $5B Virginia Firm  
  • AlTi Tiedemann Global Buys $5.6B East End Advisors 
  • Former Sheaff Brock Team Launches New RIA with tru Independence 
  • Sanctuary Adds $700M Breakaway from Merrill Lynch
  • EP Wealth Advisors Buys Wacker Wealth Partners 
  • Kovitz Adds $3.5B Firm, Creative Planning Picks Up $1.8B in AUM 
  • $500M Merrill Team Breaks Away to Launch North Carolina RIA 
  • Savvy Attracts Real Estate Expertise from EisnerAmper 

In earlier reported talent news:  

  • Hightower Names Gurinder Ahluwalia as President 
  • Homrich Berg Taps Former Bernstein Private Exec to Lead Team of Advisors 
  • Choreo Hires Business Development, Practice Management Execs 
  • Sanctuary Adds Former Pershing, Wells Fargo Execs to Leadership Team 
  • Duran’s Rise Growth Hires Head of Advisory Partnerships 

OneSeven Launches LA Advisor from Edelman Financial Engines 

OneSeven, an Ohio RIA serving 246 retirement plans and 28 independent advisory practices with more than $4.3 billion in collective assets, added $190 million from Edelman Financial Engines. 

Jame Selu, who joined OneSeven after nine years with Edelman, will be...

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