Advisory M&A News – 11/25/24

Prime Capital Financial recently welcomed Jared Copinga, a seasoned financial advisor, to their team. Copinga, who previously worked at Edelman Financial Engines, brings a wealth of experience to his new role. His career began at Waddell & Reed and later took him to USA Financial and TD Ameritrade. Copinga expressed excitement about joining Prime Capital Financial and looks forward to providing enhanced services to both existing and new clients with the support of his new team.

In another exciting development, MAG Wealth Management has acquired Ovation Wealth Advisors and rebranded it as Carson Wealth. This acquisition includes Carson Group taking a 30% equity stake in the firm. Led by Founder Jeremy Willner and his son Hayden Willner, the Carson Wealth location in Minnesota will oversee $350 million in assets under management. Jeremy Willner emphasized the power of aligning with a national brand like Carson Group and sees this partnership as a significant milestone for their firm’s growth.

Additionally, Summit Financial LLC has secured $420 million through strategic investments in three minority stakes, including Southeast Financial Group, Radiance Private Wealth, and Silvertree Retirement Planning. These partnerships offer a blend of upfront cash monetization and equity participation. The partnering firms will benefit from Summit’s investment solutions and alternative investments, as well as access to a professional strategy team with expertise in various financial fields. Supplemental capital will also be provided to these firms to support their growth.

These developments highlight the exciting shifts and partnerships occurring in the financial advisory sector, showing growth and opportunities for both firms and clients alike.