Deals & Moves: The Mather Group, AlphaCore Snag $400M RIAs
The Mather Group, a Chicago-based registered investment advisor with $17 billion in client assets, has partnered with Legacy Consulting Group, a Plano, Texas-based firm with over $400 million in assets under management, expanding TMG’s presence in the Dallas-Fort Worth area.
The move brings together Legacy’s financial planning model and nearly three decades of experience with TMG’s broader wealth management platform, the firms said. Partners Roger Shake and Steven Wachs, along with other team members, owned the firm, according to its latest Form ADV.
Legacy Consulting Group, founded in 1997, chose TMG to provide access to its financial planning, investment management and tax and estate planning, alongside a similar client approach, the firms said.
“For us, financial planning has always started with understanding what matters most to a client and what they want their wealth to make possible,” Shake said in a statement.
In May, TMG brought on a similarly sized RIA focused on small business owners in its home city of Chicago.
TMG is majority-owned by the Chicago-based private equity firm Vistria Group.
AlphaCore Strengthens Mid-Atlantic Presence with $400M RIA
AlphaCore Wealth Advisory, a La Jolla, Calif.-based, alternatives-focused RIA managing about $10 billion in client assets, has added Blue Rock Financial Group, a Sussex County, Del.-based wealth management firm with over $400 million in AUM.
The addition strengthens AlphaCore’s growing Mid-Atlantic presence following its acquisition of SPC Financial, whose team helped launch AlphaCore Tax Services in November 2025, the firm said. Blue Rock was founded more than a decade ago by Todd Roselle, who joins AlphaCore as managing director and partner.
“For more than 10 years, I turned down every conversation about merging, because none of those firms felt like Blue Rock,” Roselle said in a statement. “What made AlphaCore different was the alignment of values.”
The nine-person Blue Rock team focuses on business owners and high-net-worth families, and uses a technology-driven approach to client engagement that AlphaCore plans to roll out across the rest of the firm, according to the announcement.
“Every new partnership creates opportunities to deepen our roots within the communities we serve, and Todd’s team is a great example of that,” AlphaCore founder and CEO Dick Pfister said in a statement.
The Blue Rock team will remain in Sussex County, operating from AlphaCore’s Rehoboth Beach office and working closely with its Bethesda, Md., office.
Pfister is the majority-owner of AlphaCore, which also has a minority stake held by Constellation Wealth.
Summit Wealth Group Acquires Commonwealth Advisor, Expands Tennessee Presence
Summit Wealth Group, a Colorado Springs, Colo.-based RIA with about $3 billion under management, has acquired financial advisor Scott Hardy and his practice, representing about $189 million in client assets.
Hardy is leaving Commonwealth Financial Network to work with clients from Summit Wealth’s existing Brentwood, Tenn., office. His addition marks another former Commonwealth advisor to join the firm, which itself broke away from Commonwealth just before its sale to LPL Financial last year.
“What attracted me to Summit was the opportunity to preserve the way I work with clients while adding significantly more resources behind that relationship,” Hardy said in a statement.
Hardy’s transition reflects Summit’s growth strategy of attracting established advisors who want the resources and scale of a larger RIA without giving up the autonomy and personal client relationships that helped them build their practices, according to the firm.
“Scott saw an opportunity to maintain the independence and client relationships he values while gaining access to a deeper infrastructure built specifically to support advisors,” Summit Wealth CEO Randy Morris said in a statement.
BakerAvenue Wealth Sells Minority Stake to Constellation Wealth Capital
BakerAvenue Wealth Management, a San Francisco-based RIA with $6.3 billion in assets under management, has closed on a strategic minority investment from Constellation Wealth Capital, an alternative asset management firm dedicated to investing in scaled, independent RIAs. The deal is Constellation’s 18th since its founding by former Emigrant Partners CEO Karl Heckenberg in late 2023.
The partnership provides BakerAvenue with additional long-term capital to expand its integrated tax preparation and estate planning services and its corporate trustee services, while pursuing opportunities in new markets, advisor recruitment and the development of additional organic growth channels, according to the firms.
“We were intentional in finding a partner aligned with our long-term vision,” CEO and Partner Tom Ngo said in a statement. “We believe CWC’s deep understanding of the wealth management industry, collaborative approach, and experience supporting the growth of independent wealth management firms will help us deepen what we do best and expand the infrastructure behind our operating model.”
BakerAvenue will continue to be majority-owned and controlled by its existing leadership team, according to the firm.
The RIA clocked a 23% compound annual growth rate in organic assets under management from 2021 through 2025, according to the announcement.
Colchester Partners served as financial advisor to BakerAvenue in the sale.
