Deals & Moves: AlphaCore Seeds New Jersey Hub With $700M RIA
AlphaCore Wealth Advisory, a La Jolla, Calif.-based, alternatives-focused RIA managing more than $10 billion in client assets, has acquired Brave Family Advisors, a boutique wealth practice with $700 million in assets under management.
Through the deal, Constellation Wealth Capital-backed AlphaCore will open a Summit, N.J., office to expand its Northeast footprint. In turn, the acquisitive RIA will give Brave access to its in-house tax strategies and preparation, trust and estate services, philanthropic planning, family governance and private markets investing focus, according to the announcement.
Brave was founded in 1992 by Brett Haire with a focus on high-net-worth and ultra-high-net-worth households, and includes four advisors and eight total staff members who will work from offices in Summit, N.J., and Tiverton, R.I.
“Brave Family Advisors represents a foundational investment in our long-term strategy for expansion in the New York area,” AlphaCore founder and CEO Dick Pfister said in a statement.
Turkey Hill Management advised Brave on the transaction.
Wealth Enhancement Snags Miramar Capital, Adding $592M in Assets
Wealth Enhancement, a Minneapolis-based RIA now overseeing more than $159.4 billion in client assets, announced it acquired Miramar Capital, an RIA in Northbrook, Ill., with more than $592 million in AUM.
Miramar was founded in 2017 and is led by founders and senior portfolio managers Bob Kalman and Max Wasserman, who were also the majority owners, according to the firm’s most recent Form ADV. The practice is focused on a dividend growth investment strategy for high-net-worth individuals, business owners, executives, multi-generational families, corporations and foundations.
“Our focus has always been and will always be on our clients, which is why joining Wealth Enhancement was the right choice for us,” Wasserman said. “With their support, we look forward to expanding our capabilities and accelerating our growth.”
Wealth Enhancement continues to be one of the most acquisitive RIAs in the sector this year, having just acquired its first Alabama-based firm last week.
It’s private equity owners, TA Associates and Onex Corporation, are also considering a sale to either The Carlyle Group or Bain Capital, according to sources familiar with the talks. Neither Wealth Enhancement nor the firms have commented on the matter.
Hue Partners advised Miramar on the move.
Summit Financial Expands to Georgia and Oregon
Summit Financial, a Parsippany, N.J.-based RIA backed by Merchant Investment Management, has added two investment advisory firms, Kamal Capital Group and M Group Investment Advisor, with about $520 million in combined client assets, according to an announcement.
The additions bring Summit to 65 partnerships and give it a presence in Georgia and Oregon while expanding its footprint across Michigan, Florida and Washington. The RIA platform has about $22.4 billion in client assets, according to its most recent Form ADV.
Kamal Capital Group has $170 million in AUM and operates offices in Michigan and Georgia. Founded in 1984, the firm initially focused on retirement planning for airline pilots before expanding to include aviation professionals, corporate executives and ultra-high-net-worth families. The firm is led by Danny Kamal, chief investment officer and managing partner, and Rob Kamal, chief operating officer and managing partner.
“Partnering with Summit allows us to enhance those capabilities with sophisticated planning tools and a broader platform that will help us scale while staying true to who we are,” Kamal said in a statement.
M Group Investment Advisor has about $350 million in AUM and is headquartered in Florida, with additional offices in Oregon and Washington. The firm touts its transparency and personalized service, with a focus on retirement planning for non-union construction companies that work on government projects. The team is led by John Marcelia and Ed Leeper.
“Independence has always been at the core of M Group’s philosophy, giving advisors the flexibility to do what’s right for their clients,” Marcelia said in a statement. “With Summit, we can maintain that independence while gaining access to expanded investment capabilities, advanced technology and operational support.”
Aspen Standard Acquires $550M Denver Private Wealth Management
Aspen Standard Wealth, a New York-based holding company that takes majority stakes in RIAs, continues its recent acquisition run with Denver Private Wealth Management, a wealth manager with about $550 million in AUM.
Founded in 2014, Denver Private Wealth Management works with families, business owners and executives on investment management, retirement planning, tax-efficient strategies and legacy planning. It was majority-owned by Darin Snow, the managing partner, according to its Form ADV.
“By joining the Aspen platform, we will be able to further expand the suite of services available to our clients and extend our legacy for decades to come,” Snow said in a statement. “This is also an opportunity for our team to build their careers with a broader team of industry professionals.”
Aspen takes majority stakes in RIAs while keeping their leadership teams, names and focus areas in place.
FP Transitions advised Denver Private Wealth Management on the move.
Savvy Adds $550M to its Tech-Focused Platform
Savvy Advisors, the New York-based affiliate of Savvy Wealth with more than $8 billion in AUM, has added Blue Barn Wealth and Paragon Private Wealth Management to its network of advisors, bringing a combined $550 million in client assets to the platform.
The moves bring the RIA’s recruited assets in 2026 to $4 billion. Savvy, led by Ritik Malhotra, continues to prove out its thesis that advisors will be drawn to a home-built, artificial-intelligence-driven wealth platform.
Blue Barn Wealth, headquartered in Orem, Utah, oversees about $300 million and serves more than 220 client households and multiple 401(k) plans. The firm, which traces its roots to 1994 and was acquired by its current owner, Jeff Brimhall, in 2017, provides wealth management services, including tax planning, retirement planning, charitable giving strategies, estate planning coordination and alternative investments.
Based in Franklin, Tenn., Paragon manages about $250 million in assets and serves individuals, families and entrepreneurs nationwide. The firm was founded by Allen Buckley and was previously part of the Sanctuary Wealth platform, according to BrokerCheck. The RIA provides integrated wealth management through investment management, financial planning, tax planning and tax preparation services.
“Savvy’s platform stood out because it allows us to provide that experience through one connected ecosystem while leveraging technology and AI to reduce administrative complexity,” Buckley said in a statement.
