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Arkadios Capital Nabs $1.8B Triad RIA, LPL Grabs $420 Merrill Team

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ACG Wealth, an RIA with over $1.8 billion in assets, has moved to broker-dealer Arkadios Capital from Triad Advisors.

“Arkadios Capital allows us to best serve our high net-worth clients, who are looking for more than cookie-cutter products and investments,” said ACG Wealth founding partner Jody Young, in a statement. “We are expanding our services through this move, and opening new avenues to alternative investments including private equity, which is critical especially today.” 

ACG Wealth, formerly Atlanta Capital Group, says it had been the largest RIA affiliated with Atlanta-based Triad Advisors.

“Our relationship with Triad Advisors allowed us to grow to a point, but our high-net worth clients were looking for opportunities that the broker-dealer would not allow us to pursue,” added Young. “This new partnership gives us the independence and flexibility to best serve those clients and our advisors.” 

Meanwhile, the Choice Group Wealth Management has joined LPL Financial’s broker-dealer and hybrid RIA platforms. The new partner has about $420 million of client brokerage and advisory assets and is based in Melville, N.Y.

It includes four advisors formerly with Merrill Lynch: Ira Katz, Daniel McNicholas, John Scala and Bryce Wilinski. “An impetus for our move was the impending Department of Labor changes,” Katz explained in a statement.

“We wanted to be proactive and align with a platform that we felt gave us access to more products and greater flexibility so we can act as a fiduciary and serve our clients’ best interests. LPL was the right partner because we have been able to evolve our offering while continuing to operate as a boutique wealth management firm,” he added.

Kovack M&A 

Kovack Securities of Fort Lauderdale, Florida, has acquired TKG Financial, an independent broker-dealer and advisory firm based in Santa Barbara, California, with $200 million in client assets and seven independent financial advisors. 

Across the U.S., Kovack works with 400 independent financial advisors and nearly $8 billion in client assets. The firm says it has been working with TKG to help it close its broker-dealer entity but remain in business by becoming a Super-OSJ/independent branch of Kovack Securities and using its RIA platform.

Brian Kovack, president and co-founder of the firm, said in a statement: “Smaller independent firms increasingly seek to eliminate rising broker-dealer costs while maintaining their unique brands and communities of like-minded advisors. … [W]e we offer a unique path forward for smaller firms that want to stay together as distinctive Super-OSJ groups rather than get absorbed into a monolithic, large firm with thousands of advisors.

“In this landscape of accelerated industry consolidation, we’re confident our transaction with TKG is the first of multiple similar deals to come for Kovack Securities,” he added.

Other News 

Bronfman E.L. Rothschild, an independent investment advisor based in Rockville, Maryland, said it added a team that includes five professionals and is led by John H. Wolff from Capital Fiduciary Advisors. In addition, Rothschild plans to open a new office in Reston, Virginia, where most members of the team will be located.

Earlier this year, the firm announced plans to buy TriCapital Advisors in Maryland and added Marilyn Napoli to its New York office.

According to CEO Neal Simon, “To open a new office like the one in Reston, we require at least $300 million of AUM, which we meet here. In markets where we have an existing office, we can lift out advisors with as little as $50 million of AUM.”

Rothschild manages over $4.5 billion in assets.


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