Allworth Acquires Sister Firms in Indianapolis with Combined $1.5B in Assets
Allworth Financial, a registered investment advisor based in Folsom, Calif., with over $30 billion in client assets, has acquired Indianapolis-based sister firms Salzinger Sheaff Brock and Sheaff Brock Investment Advisors.
The two firms manage more than $1.5 billion in combined assets, working with high-net-worth individuals. The investment arm focuses on active investment management, which Allworth noted as an added capability for its advisors. The firm is also expanding its footprint in the Midwest.
“Combining our specialized investment strategies with Allworth’s comprehensive wealth management approach creates a powerful platform that will benefit our clients for years to come,” Mark Salzinger, co-founder of Salzinger Sheaff Brock, said in a statement.
Allworth offers investment management, tax strategy, estate planning, insurance and retirement plan services.
The deal is the RIA’s 42nd since 2018. In 2020, Allworth sold to private equity firm Lightyear Capital and the Ontario Teachers’ Pension Plan Board, Canada’s largest single-profession pension plan. Parthenon Capital previously owned it.
Compound Reels In 8 Advisors With Combined Previous Client Assets of $950M
Compound Planning, a New York-based RIA with over $3 billion in client assets, has recruited eight advisors to grow its team to more than 50 advisors.
The additions include a three-person team of owners at Moscow, Idaho-based Northstar Financial Management, who had previously managed $120 million in client assets.
Firm founder Kaitlin Jones, sister Charlotte Jones and Mark Mooring will now be part of the rebranded Northstar Group at Compound Planning, which offers financial planning, portfolio management, tax services, and trust and estate administration.
“When we went looking for the perfect partner for our business, Compound Planning’s integrated tax services immediately stood out,” Kaitlin Jones said in a statement. “To us, tax preparation and planning should always be at the center of what we do, not some separate, disconnected experience.”
Compound also added five advisors who had managed a combined $835 million in client assets.
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Denver-based Michelle Leichtner left Motley Fool Wealth Management to join Compound and has over 20 years of experience across RIAs, investment banks and hedge funds.
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Bethesda, Md.-based Hali London also left Motley Fool Wealth Management and has more than 30 years of experience in financial counseling and planning.
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Des Moines, Iowa-based Jan Shull joins after advising high-net-worth clients at Ameriprise and Edward Jones.
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Phoenix-based James Taylor came from Mercer Advisors, where he worked in insurance and planning for retirees, business owners and federal employees.
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Morrison, Colo.-based Brandon Wyand joined from Vanguard and had prior roles with Personal Capital and Empower Advisory Group.
Compound has added 17 advisors in 2025, after adding 30 total advisors and doubling its AUM in 2024.
Focus Makes Second Acquisition Under Unified Brand
Focus Financial Partners has acquired a Fairfax, Va.-based RIA with $239 million in client assets in a deal expected to close in the third quarter of 2025.
The mega-RIA’s Focus Partner Wealth division, which was rebranded in January 2025, will add David Wealth Management.
It’s the second deal for the unit since announcing that The Colony Group and Buckingham Strategic Wealth would start operating under the unified Focus Partners Wealth brand.
David Wealth, which will now operate as Focus Partners Wealth, was founded by Jim David in 2012 and is focused on Washington D.C.-area clients.
New York-based Focus Partners Wealth CEO Adan Birenbaum said in a statement that “M&A remains a key strategic priority” for the firm.
Focus Partners Wealth acquired Churchill Management Corporation in May.
In addition to rebranding its RIA groups, Focus rebranded Buckingham Strategic Partners, its turnkey asset management platform, to Focus Partners Advisor Solutions.
Apella Wealth Acquires First Midwest Practice With $574M Iron Horse Wealth
Apella Wealth, a West Hartford, Conn.-based RIA with over $6 billion in assets under management, has acquired Johnston, Iowa-based Iron Horse Wealth Management.
Iron Horse founder and President Dennis Markway will join Apella as regional director in the Midwest, along with his team of five, which manages $574 million in client assets.
“This partnership represents a significant milestone in Apella’s geographic expansion as we establish our first Midwest-based team,” Jim Scanlan, president of Apella, said in a statement.
The deal is Apella’s 22nd overall, and 11th since getting investment from Wealth Partners Capital Group in September 2021.
Four Advisors Join LPL’s Strategic Wealth RIA From Thrivent
Four financial advisors who had previously overseen a combined $220 million in advisory, brokerage and retirement plan assets have left Thrivent Investment Management to join LPL’s RIA affiliate Strategic Wealth Group.
As part of Strategic Wealth, the four advisors are now on LPL’s broker/dealer, RIA and custodial platforms.
Mike Trudeau, Matt Merrick, Ben Ollila and Ben Prchal will be based in Lino Lakes, Minn., near Minneapolis. Trudeau, Merrick and Ollila have worked together since 2009; Prchal started in the financial industry in 2021.
The left Thrivent to join LPL’s RIA affiliate group to be “free from corporate mandates and proprietary investments,” according to an announcement.
“By going independent with Strategic Wealth Group and LPL, we will be able to provide a holistic and tailored experience for each client, using products and services that make sense for their long- and short-term goals,” Trudeau said.
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