This week’s financial headlines were dominated by a relatively strong showing by the wirehouses and big investment banks, including in their wealth management divisions.
And while Bank of America’s Merrill Lynch acknowledged on its earnings call the large registered investment advisor breakaway from last year, OpenArc Corporate Advisory, executives emphasized that advisor attrition remained at “historic lows.”
The independent broker/dealers—including much-watched LPL Financial and its Commonwealth Financial Network—will report earnings in the coming weeks. But for now, you can catch up on other relevant deals from the week below.
Wells Fargo’s FiNet Lands $1.3B Team from LPL’s Commonwealth
Wells Fargo Advisors Financial Network, the wirehouse’s independent broker/dealer arm, has lured a team from Commonwealth Financial Network overseeing $1.3 billion in assets.
KBK Wealth Management, which was part of LPL Financial’s Commonwealth, will be moving six financial advisors and an eight-person support team to FiNet, according to a Wells Fargo spokesperson.
KBK Wealth was founded by Alan Brachfeld and Richard Kass, who have been in the industry since the late 1980s, but joined Commonwealth about 19 years ago, according to BrokerCheck.
“This affiliation enables us to preserve our independence while enhancing our platform, capabilities, and long-term stability—positioning our practice for the next phase of growth,” Kass said in a statement.
The advisor team also includes Michael Kessler, Jeffrey Feinstein, Nancy Curtin and Jordan Cohen.
Credent Wealth Acquires RIA and Cambridge Breakaway
Credent Wealth Management, a fee-only $4.3 billion RIA headquartered in Auburn, Ind., has made its first acquisition since receiving external capital, bringing on an RIA and broker/dealer breakaway with combined assets of $250 million.
Credent announced this week that it has acquired MainStreet Financial Advisors of Kalamazoo, Mich., a hybrid advisory previously affiliated with Cambridge Investment Research. In addition, Credent is bringing on Tulsa, Okla.-based RIA First State Investment Advisors.
The deal will see Main Street founder John Ruzza and First State founder Matt Redmond join Credent, in addition to two other advisors and two support staff.
MainStreet will be integrated into Credent’s existing Portage, Mich., office. First State will establish the RIA’s first office in Tulsa while partnering with an existing office in Oklahoma City.
In December, Credent sold a minority stake to alternative investment manager and lender Crestline Investors. The RIA currently has $4.3 billion in assets under management across 14 offices.
Rothschild Wealth Partners, a Chicago-based RIA with roots dating back to 1908, has acquired another Chicago-based firm, Windgate Wealth Management, with more than $200 million in client assets.
Windgate was founded over 35 years ago and focuses on financial planning and wealth management for high-net-worth individuals and families, business owners and entrepreneurs.
Michael Corbett, the firm’s CEO and CIO, and advisors Sean Condon and Stacie Suhrbur will join Rothschild with the transaction.
“We particularly look forward to enhancing our current services to our clients through the opportunities presented by this merger,” Corbett said in a statement.
The deal is the second Rothschild has made since the summer of 2025, when Chief Growth Officer Mac O’Brien joined the firm from Morningstar, according to the announcement. Rothschild also noted that it plans further expansion in the U.S. this year.
Rothschild has thus far been focused on clients in the Chicago, Oak Brook, Northbrook, Glen Ellyn, Denver and Nashville markets.
Apollon Wealth Acquires $185M Sage Advisors
Apollon Wealth Management, a Mount Pleasant, S.C.-based wealth management firm with more than $8.65 billion in assets under management, has acquired Indianapolis-based Sage Advisors.
Mike Surenkamp leads the firm founded in 2021, which includes two other advisors and provides wealth and financial planning to clients.
Sage oversees $185 million in client assets, according to its Form ADV, and custodies with Charles Schwab, which is also a custodian option for Apollon Wealth advisors.
In December, Apollon Wealth acquired The Motley Fool’s wealth management division, which had been managing about $1.5 billion in client assets.
Apollon is majority owned by employees, though Merchant Investment Management acquired a minority stake in 2018.
Bluespring Partner Firm U.S. Financial Acquires $73M RIA
A Kestra Financial advisor has moved over to a partner firm with Kestra’s RIA channel, Bluespring Wealth Partners, the firms announced.
Front Porch Financial, formerly affiliated with broker/dealer Kestra, has joined Bluespring partner U.S. Financial Services.
Front Porch, which was founded by advisor Elizabeth Blanchard, is based in Cranford, N.J., and oversees about $73 million in client assets, according to a Bluespring spokesperson. Blanchard started out as a bank teller in New York before moving into wealth management, and is making the move to U.S. Financial partly to “put a succession plan in place,” she said in a statement.
She added that “the Bluespring Community also gives [clients] access to a broader team and resources while preserving the personal touch they value.”
The move boosts U.S. Financial’s assets under management to $1.7 billion and adds a fifth location to existing offices in New Jersey, New York, North Carolina and South Carolina.
In 2025, Bluespring itself closed nine advisory deals, bringing in over $6 billion in AUM. The Austin, Texas-based firm operates within Kestra, which oversees $92 billion in assets under management and $119 assets under advisement across its affiliates.
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