Family Office & RIA Roundup

Take a Lap Around the Industry

• Merrill Launches New Specialized Advisory Group for UHNW (Funds Society)
  
• Corient Seals Deal for $10.4bn Geller Multi-Family Office (Citywire)
• Rockefeller Global Family Office Expands In NY, TX (Family Wealth Report)
  
• Singapore's Family Office Count Tops 2,000 After Record 43% Growth (Citywire)
  

Family Office Deal Tracker

• Emerson Collective has participated in a $10M Seed funding round for Teal Health, a women's healthcare focused company that provides at-home cervical cancer screening kits
• With backing from Li Ka-Shing's family office, Owlstone Medical, the global leader in Breath Biopsy for applications in early disease detection, has raised $27M in a Series E financing round
• With participation from David Blitzner's family office, Men in Blazers Media Network, a sports media company  focusing on soccer, has announced the closing of a $15M Series A fundraising round
• NEURA Robotics, a leading cognitive robotics innovator and Germany's sole humanoid robotics company, has secured €120M in a Series B funding round with support from BlueCrest Capital Management
  Source: FINTRX Data

Private Wealth Movement

• Vance Gray, Jr., founder and president of VanceGray Wealth Management, a $409M RIA with offices in Maine, has joined Wealth Enhancement Group 
• Rebranding as Twin Pines Wealth Management, Lake Forest, CA-based advisors, Kiho Choi and John Dunphy will join Carson Group, bringing in $411M in client assets
•  Previously serving as Principals of the No. 16 Wall Street Private Wealth Management Group at Wells Fargo Advisors, where they managed over $2.5B in  assets, Mark Cavalier, Jonathan Smith and Gregory Weiss have joined Ashton Thomas as Managing Directors and Partners
• Johns Creek Financial's advisor duo, Brian McGill II and Michael Hyser, have left Kestra Financial to join LPL, bringing with them $385M in advisory, brokerage and retirement plan assets

New Launch Activity Tracker 🚨

• Matthew Heckler, former director at Telemus Capital, left the firm after its acquisition by Kovitz Investment Group and launched his own RIA, K2 Wealth Management, based in Chicago
• K2 Wealth Management, wholly owned by Heckler, specializes in services such as retirement, estate, and tax planning
• Telemus, with $3 billion in client assets, was acquired by Kovitz in January 2024 as part of Focus Financial Partners' strategy to consolidate its network of 90 RIAs, backed by private equity firm Clayton, Dubilier & Rice
• Kovitz, one of five hub firms within the Focus Financial network, has executed 16 internal acquisitions to date, alongside other Focus-affiliated hubs like SCS Financial and Cardinal Point Capital Management
  (Citywire)

Reps On the Move

• Joining from Lombard International Group, Stuart Parkinson has been named the Group CEO of Stonehage Fleming (Yahoo Finance)
• $11.1B Coldstream has named Bryan Shipley as Chief Investment Officer, replacing Howard Coleman (Citywire)
• $103B Kestra Financial has chosen John Amore to take over as president of the company, replacing Stephen Langlois (Citywire)
• $735M Delaware RIA RiversEdge has named Tim Mihok as CEO replacing company co-founder Brian Carney, who will remain with the firm as a partner and advisor to clients (Citywire)

Global ETF Flows Hit Record $1.5T, Driven by U.S. Markets and AI buzz

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