Cary Road Grows to $10.7B with Former Osaic Affiliate
Cary Road Companions, a $10.7 billion RIA primarily based 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 change into a monetary advisor and managing director at Cary Road and whose agency has taken on the Cary Road title.
Wolff ran IFS as an affiliate of Securities America, a dealer/supplier 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 progress and the way they persistently spend money on individuals, tradition, and innovation,” Wolff stated in a press release. “I knew this was the fitting transfer to make sure our purchasers proceed to obtain world-class service with much more assets behind them.”
The acquisition is Cary Road’s second of 2025 and might 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 stated 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 enlargement.
Osaic Affiliate StoneBridge Provides $210M Advisor from VALIC
StoneBridge Advisors Inc., a Maryland-based affiliate of nationwide dealer/supplier Osaic, has recruited advisor Ryan Grossman from VALIC Monetary Advisors Inc.
Grossman brings $210 million in property below advisement within the transfer by way of his work with people and households. His apply supervisor, Susan Gallant, and shopper service coordinator, Michelle Kellner, will be a part of him at StoneBridge.
StoneBridge was based by Michael Ward in 2005 and is led by managing companion Sara Cicero.
Grossman cited StoneBridge’s “advisor-first tradition and strong assist ecosystem, together with superior know-how instruments, enterprise growth assets and a broad suite of funding options,” in line with a press release.
He’s the most recent to hitch Osaic in current months; others embrace Wichita, Kansas-based wealth administration agency NoxNumis, and Auburn, Ind.-based Ever Wealth.
On Thursday, the dealer/supplier introduced that its division centered on advisors at banks and credit score unions added 5 credit score union wealth administration applications to its community, representing nearly $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 primarily based on demand from purchasers looking for tax-focused monetary planning. He’s shifting as a part of a succession plan, together with his two wealth advisor workers members becoming a member of Avantax as W-2 staff.
Watson stated he evaluated totally different choices for promoting the agency and settled on Avantax due to the seamless transition for purchasers and staff and the chance for these staff.
“Serving purchasers is a very powerful and rewarding side of this enterprise, and it shortly grew to become clear that increasing our relationship with Avantax would assist guarantee the most effective expertise for our purchasers,” Watson stated in a press release. “As well as, our group members have brilliant profession paths forward as Avantax staff, and this new relationship chapter expands the companies we offer purchasers 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 might be primarily based in Devon, Pa., and might be joined by two group members to advise people, households, companies, endowments, and non-profits.
“The agency’s superior know-how platform enhances our capacity to ship subtle monetary methods, whereas the flexibleness and independence afforded to advisors is a supportive basis to construct a robust, enduring group,” Fouraker stated in a press release.
Fouraker began her profession as an advisor with Smith Barney in 1997 after working in pc 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 a part of her as the 2 concentrate on advising enterprise homeowners and people, specializing in girls and LGBTQ+ traders.
“After plenty of due diligence, I discovered Raymond James affords an interesting know-how platform and a depth of back-office assist to permit us to work effectively and concentrate on spending time with our purchasers,” Maki stated. “It’s additionally vital that Raymond James feels philosophically aligned with our apply and in addition values having a optimistic impression of their area people.”
