Connecticut-based RIA Apella Wealth has acquired Iowa-based peer Iron Horse Wealth Management for an undisclosed sum.
This marks the expansion of Apella’s financial planning as well as investment management services into the Midwest region.
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It helps the firm set up a presence in Johnston, Iowa.
The transaction adds $574m in assets to Apella’s books. The firm managed $6.08bn in assets upon the deal’s completion on 20 June 2025.
Apella president Jim Scanlan said: “This partnership represents a significant milestone in Apella’s geographic expansion as we establish our first Midwest-based team. We are excited to welcome a highly respected firm, known for its unwavering commitment to clients, to Apella.”
Iron Horse is a fee-only advisory firm offering financial planning and fiduciary guidance to individuals and families.
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By GlobalDataAs part of the deal, the complete Iron Horse team moved to Apella, with founder and president Dennis Markway becoming regional director.
Iron Horse founder and president Dennis Markway said: “We are overjoyed to join Apella, a team that holds itself to the highest ethical and fiduciary standards and shares our deep dedication to clients, employees, and communities. We are excited to collaborate, share expertise, and learn from our peers, knowing that together we can make a meaningful impact.”
This deal represents Apella’s 22nd acquisition and the 11th since its alliance with Wealth Partners Capital Group (WPCG), which invested in Apella in September 2021.
