M&A
Mercer Global Advisors
The registered investment adviser firm has acquired Empyrion Wealth Management for an undisclosed sum.
Empyrion is a wealth management firm located in Roseville, California focusing on serving the financial needs of family stewards, women in transition, and thriving retirees.
President and founder Kimberly Foss founded Empyrion in 2002, and she and her team service 90 clients with assets under management (AuM) of approximately $250m (£205m, €231m).
Allworth Financial
The advice firm has bought California-based RedRock Financial & Insurance Services for an undisclosed sum.
Founded in 1993 in Sacramento, RedRock has approximately $15bn in assets under advisement (AuA).
GYL Financial Synergies
The Focus Financial partner firm has bought Financial Partners Capital Management (FPCM) for an undisclosed sum.
Founded in 1988, FPCM is a New York-headquartered RIA firm, which provides financial planning and investment management services to high net worth individuals and families.
FPCM is currently led by the firm’s three partners, Aaron Cohen, Vincent Marsden and Craig Giventer.
Through this transaction, GYL will establish a presence in the New York City wealth management market, allowing it to extend its regional presence in the northeast.
Once the transaction closes, GYL’s institutional and private client services in West Hartford, Westport, Parsippany, and New York City will move forward together under one brand name, GYL Financial Synergies.
Captrust Financial Advisors
The advice firm has bought TrustCore Financial Services for an undisclosed sum.
The RIA company is based in Nashville and is led by partner and chief executive Gary Dean.
TrustCore is the second Captrust office in Nashville, following the addition of New Market Wealth Management in 2021.
The deal closed in late 2022 and is the 63rd for the firm since 2006.
Wealthcare Advisory Partners
The RIA firm has acquired Sommers Financial Management for an undisclosed sum.
The deal marks Wealthcare’s third RIA acquisition in the past six months and expands the company’s presence in the direct advisory market.
With advisers in Scappoose and Tucson, Sommers Financial was founded in 2002 and advises on more than $100m AuM.
Following the acquisition, Wealthcare’s adviser team includes more than 150 wealth management advisors across the country with $5bn in AuM.
Led by founder Adam Sommers, the Sommers Financial team will remain with their clients.
People moves
First Republic Bank
A four-person team led by Eric Yamin and Keith Caparelli has joined First Republic Investment Management.
Yamin and Caparelli were each named managing director and wealth manager. They join from Morgan Stanley.
Also, a seven-person team led by Brenda Travaglini, Michael Corcoran, Dennis Murray and Dan Gallagher has joined First Republic Investment Management.
Travaglini, Corcoran, Murray and Gallagher were each named managing director and wealth manager. They joined from BNY Mellon Wealth Management.
Raymond James
Investment broker Bryan Cernicek has joined the financial services firm.
Cernicek arrives from Edward Jones and leads the Cernicek wealth management team, which includes senior client service associate Lisa Church.
Also, financial adviser Craig Johnson has joined the wealth firm in Sulphur Springs, Texas.
Johnson is joined at his practice, Rising Wealth Management, by senior client service manager Deanna Hines.
Previously, Johnson was affiliated with Edward Jones.
Arnerich Massena
The Portland-based advice firm has hired Nick Buckley as a research analyst.
Most recently, he served as an investment analyst at Meketa Investment Group.
