Cary Road Grows to $10.7B with Former Osaic Affiliate
Cary Road Companions, a $10.7 billion RIA based mostly in Richmond, Va., has acquired a Sarasota, Fla.-based registered funding advisor previously affiliated with Osaic.
IFS Advisors Inc. is led by monetary advisor Daniel J. Wolff, who will turn into a monetary advisor and managing director at Cary Road and whose agency has taken on the Cary Road identify.
Wolff ran IFS as an affiliate of Securities America, a dealer/vendor consolidated into Osaic, for about 14 years, amassing about $340 million in shopper property, in line with regulatory filings and a Cary Road spokesperson.
“We’ve watched CSP’s considerate development and the way they constantly put money into folks, tradition, and innovation,” Wolff mentioned in a press release. “I knew this was the fitting transfer to make sure our shoppers proceed to obtain world-class service with much more assets behind them.”
The acquisition is Cary Road’s second of 2025 and will likely be its 20th workplace nationwide.
It’s additionally the primary deal since an April announcement that it had obtained an funding and possession stake from CIVC Companions in a recapitalization of different outdoors traders. The RIA mentioned companions on the agency had dedicated to reinvesting a “vital majority of present possession” whereas including new companions to the agency, all of which is able to result in funding natural and inorganic growth.
Osaic Affiliate StoneBridge Provides $210M Advisor from VALIC
StoneBridge Advisors Inc., a Maryland-based affiliate of nationwide dealer/vendor Osaic, has recruited advisor Ryan Grossman from VALIC Monetary Advisors Inc.
Grossman brings $210 million in property beneath advisement within the transfer via his work with people and households. His apply supervisor, Susan Gallant, and shopper service coordinator, Michelle Kellner, will be part of him at StoneBridge.
StoneBridge was based by Michael Ward in 2005 and is led by managing associate Sara Cicero.
Grossman cited StoneBridge’s “advisor-first tradition and sturdy assist ecosystem, together with superior know-how instruments, enterprise improvement assets and a broad suite of funding options,” in line with a press release.
He’s the most recent to hitch Osaic in latest months; others embrace Wichita, Kansas-based wealth administration agency NoxNumis, and Auburn, Ind.-based Ever Wealth.
On Thursday, the dealer/vendor introduced that its division targeted on advisors at banks and credit score unions added 5 credit score union wealth administration applications to its community, representing virtually $500 million in mixed property.
Cetera’s Avantax Acquires $180M WealthCare Monetary
Avantax Inc., Cetera’s tax-focused monetary planning and wealth division, has acquired Indianapolis-based WealthCare Monetary Group, which additionally has a tax focus for its apply. The $180 million agency’s advisors have been affiliated with Avantax since 2019.
Jeffrey Watson based WealthCare Monetary in 1997 based mostly on demand from shoppers searching for tax-focused monetary planning. He’s shifting as a part of a succession plan, together with his two wealth advisor employees members becoming a member of Avantax as W-2 staff.
Watson mentioned he evaluated totally different choices for promoting the agency and settled on Avantax due to the seamless transition for shoppers and staff and the chance for these staff.
“Serving shoppers is crucial and rewarding side of this enterprise, and it shortly grew to become clear that increasing our relationship with Avantax would assist guarantee one of the best expertise for our shoppers,” Watson mentioned in a press release. “As well as, our staff members have brilliant profession paths forward as Avantax staff, and this new relationship chapter expands the companies we offer shoppers whereas leveraging Avantax’s instruments, applied sciences and assets.”
Raymond James Provides 2 New Practices
Raymond James has bolstered its worker and impartial advisor channels with two new advisory practices.
Advisors Lisa Fouraker and Steven Victor are leaving Janney Montgomery Scott, the place they oversaw greater than $165 million in shopper property, to begin Victor-Fouraker Group of Raymond James.
The pair will likely be based mostly in Devon, Pa., and will likely be joined by two staff members to advise people, households, companies, endowments, and non-profits.
“The agency’s superior know-how platform enhances our capability to ship refined monetary methods, whereas the flexibleness and independence afforded to advisors is a supportive basis to construct a robust, enduring staff,” Fouraker mentioned in a press release.
Fouraker began her profession as an advisor with Smith Barney in 1997 after working in laptop know-how. Victor started his profession at Merrill in 1983.
St. Petersburg, Fla.-based Raymond James additionally introduced advisors Martha Maki and Kayla Rivet are becoming a member of the impartial advisor channel from dealer/sellers Edward Jones and LPL Monetary, respectively.
Maki beforehand managed $190 million in shopper property at Edward Jones and can lead the brand new agency, Maki Monetary, in Claremont, N.H.
Rivet will be part of her as the 2 deal with advising enterprise house owners and people, specializing in ladies and LGBTQ+ traders.
“After numerous due diligence, I discovered Raymond James presents an interesting know-how platform and a depth of back-office assist to permit us to work effectively and deal with spending time with our shoppers,” Maki mentioned. “It’s additionally essential that Raymond James feels philosophically aligned with our apply and likewise values having a constructive influence of their area people.”
