Family Office & RIA Roundup

Take a Lap Around the Industry

• J.P. Morgan Private Bank Expands Morgan Private Advisory with Strategic New Hires (PR Newswire)
  
• Private Market Allocations To Climb In 2025 (Wealth Briefing) 
• Fourth-Quarter Frenzy Pushed RIA M&A to a Record 2024, says DeVoe (Investment News)
  
• Apollo Advances Financial Advisor Education and Access to Alternative Investments with Launch of Apollo Allocation Pro (Yahoo Finance)
  

Family Office Deal Tracker

• With participation from North Island Ventures, Cedar Money, a payments company facilitating seamless cross-border transactions using stable-coins,  has raised $9.9M in a Seed funding round
• Helion Energy, Inc., a fusion research company aimed at harnessing fusion power for a clean energy future has secured $425M in a Series F investment round with backing from Skoll Family Office
• ICONIQ Capital has participated in a $180M funding round for Voice-AI startup, ElevenLabs putting it at a $3.3B valuation
• The  Irish sports technology company, Output Sports, has raised $4.8M in a pre-A funding round with backing from Elkstone Family Office
  Source: FINTRX Data

M&A Activity Tracker 🚨

• The CI Financial subsidiary, Corient, has acquired the Pittsburgh-based RIA Rootstock Advisors, bringing in $600M in client assets
• Formed through RIA financier Focus Financial Partners', Focus Partners Wealth has acquired $4.2B Seattle RIA, Merriman Wealth Management, making it their first internal acquisition 
• Boston-based private equity-backed RIA, CW Advisors, has acquired Aspire Wealth Management and Fernwood Investment Management, adding $800M in its first deals of 2025
• Continuing on with a busy January, Merit Financial Advisors ends the month with the acquisition of Pillar Wealth Management, a Wisconsin-based RIA bringing in $179M in client assets

Private Wealth Movement

• Rockefeller Capital Management expands by adding Pollard Bryan Carl Wealth Partners, an eight-person team managing $1B in client assets, from Janney Montgomery Scott
• The team will keep its Saratoga Springs, N.Y. office, with key advisors Jeffrey Pollard, Raymond Bryan, John Carl, and Jacqueline Dufresne
• Janney Montgomery Scott, recently acquired by KKR, added 27 advisors managing $4.3B in 2024 but did not comment on the team's departure
• Rockefeller continues aggressive recruitment in 2025, bringing in multiple teams from Morgan Stanley and JP Morgan, reinforcing its strategy of acquiring top advisory talent
  (Citywire)

Reps On the Move

• William DeButts and Jimmy Patrick, previously Partners and Senior Wealth Advisors at Edge Capital Partners, have joined New Edge Wealth as Managing Directors focused on ultra-high-net-worth clients (Business Wire)
• Goldman Sachs  has appointed Brittany Boals Moelle as Region Head of private wealth management in San Francisco (Family Wealth Report)
• The private equity-backed consolidator, Progeny, is replacing Founder Neil Moles with Chief Financial Officer, Tom Wood as CEO  (Citywire)
• Planning to formally retire, co-CEO  of corporate and investment banking at Wells Fargo, Jon Weiss has decided to step down with Fernando Rivas, now acting as sole CEO (American Banker)

Blackstone Outpaces Rivals in Private Wealth, Eyes $85 Trillion Market

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