Professional Wealth Advisors (PWA) has inked a merger agreement with HighPoint Planning Partners to form a hybrid RIA platform with $8.5bn in total client assets.
Financial terms of the deal were not shared.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Founded in 2015, PWA helps advisers to navigate the challenges, regulatory pressures, and provides technology, and infrastructure required to offer quality service to clients and families.
HighPoint provides a range of back office support and supervision for financial advisors and their staff.
The combined firm will support over 200 financial advisers.
Commenting on the merger, PWA managing partner Josh Gerry said: “The HighPoint merger significantly ramps up our capability for adviser transitions and expands client options to more offerings and more services. Our platform is comprehensive and enables us to act as a full family office for every client.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“We offer turnkey financial resources for financial planning, investments, legal, insurance, and tax services. All in-house, which adds appreciable value for both the client and the adviser.”
HighPoint Planning Partners managing partner and principal Craig Ibrahim said: “HighPoint has existed as an RIA and Office of Supervisory Jurisdiction (OSJ) of LPL primarily catering to independent advisors looking for local compliance, service, support and favourable business economics. This merger is a tremendous opportunity to share our strengths with PWA while supporting more advisers.”
Recent M&A activities in the RIA space
The RIA space in the US has witnessed a slew of M&A activities since the beginning of this year.
In January, Colorado-based RIA aggregator Mercer Global Advisors took over Virginia-based wealth management firm Pinnacle Wealth Solutions and Georgia-based wealth management firm Kays Financial Advisory.
The same month, New York City-based multi-channel wealth management solutions holding company Atria Wealth Solutions greed to buy California-based independent wealth manager SCF Securities.
Other major deals inked in January include RIA aggregator Wealth Enhancement Group’s takeover of Connecticut-based RIA Reby Advisors and Wealth Partners Capital Group’s investment in Georgia-based hybrid RIA Merit Financial Group.
Earlier this month, California-based RIA EP Wealth Advisors acquired the business of Abbas Heydary, adding financial planning expertise to its Torrance base.
Most recently, San Diego-based Brown Wealth Management (BWM) expanded its reach in its home market through the purchase of Truuwater Financial.
