Meanwhile, UBS appointed two new market directors in Southern California. Read about those and other notable industry deals and moves below.
Cetera pulls team from LPL: Advisor Moves
August 8, 2025 3:22 PM
Cetera pulls a $380M AUA team from LPL
A financial advising team from LPL Financial is jumping to Cetera for its "culture of white-glove service."
Under the leadership of founder Susan Wilkinson, the 12-person Wilkinson Wealth Management team based in Charlottesville, Virginia will join Cetera's advisor channel as part of Summit Financial Networks. The team previously affiliated with LPL as part of Private Advisor Group and has approximately $380 million in assets under administration.
Wilkinson holds 29 years of experience, beginning her career in the industry in 1996 at Morgan Stanley DW. She then worked at Citigroup between 2001 and 2008 before joining LPL, where she worked for 17 years.
Under the leadership of founder Susan Wilkinson, the 12-person Wilkinson Wealth Management team based in Charlottesville, Virginia will join Cetera's advisor channel as part of Summit Financial Networks. The team previously affiliated with LPL as part of Private Advisor Group and has approximately $380 million in assets under administration.
Wilkinson holds 29 years of experience, beginning her career in the industry in 1996 at Morgan Stanley DW. She then worked at Citigroup between 2001 and 2008 before joining LPL, where she worked for 17 years.
Aspen Standard Wealth acquires RIA with $1.1B in AUM
New York City-based RIA aggregator Aspen Standard Wealth has acquired another firm on the East Coast.
MG Financial was founded in 1996 outside Boston by CEO and CIO Mary Gilligan and has $1.1 billion in assets under management.
This marks Aspen Standard Wealth'sfourth acquisition since the private equity-backed firm was founded in 2024 by Aly Kassim-Lakha.
MG Financial was founded in 1996 outside Boston by CEO and CIO Mary Gilligan and has $1.1 billion in assets under management.
This marks Aspen Standard Wealth's
Arax Investment Partners acquires $1B team
Summit Wealth Strategies of Chesterfield, Missouri will join Arax, bringing $1 billion in client assets under management. Founded in 2016, Summit operates across two states with 11 offices under the leadership of managing partners Michael Ott, Brent Spicuzza and Pete Donovan.
Ott holds 19 years of experience in the industry; Spicuzza, 25 years, and Donovan, 20 years. All three left AXA Advisors and formed Summit. According to BrokerCheck, Spicuzza resigned in late 2015 and later paid a $15,000 fine related to outside business activity; in early 2016, both Donovan and Ott paid $1,000 fines related to OBA.
Ken Wolter/wolterke - stock.adobe.com
Ameriprise nabs $780M investment program from Osaic
The Sparta, Michigan based ChoiceOne Bank has chosen to partner with Ameriprise to manage $780 million in assets, having previously worked with Osaic. Operating now as ChoiceOne Wealth Management, the advisory practice includes 10 advisors and two support staff.
"ChoiceOne has a strong legacy of serving communities with excellence across the state of Michigan, and we're proud to partner with them to deliver an exceptional wealth management experience backed by industry-leading capabilities," Ameriprise Financial Institutions Group Vice President Jay McAnelly said in a statement, but did not disclose the names of the advisors.
"ChoiceOne has a strong legacy of serving communities with excellence across the state of Michigan, and we're proud to partner with them to deliver an exceptional wealth management experience backed by industry-leading capabilities," Ameriprise Financial Institutions Group Vice President Jay McAnelly said in a statement, but did not disclose the names of the advisors.
Sanctuary Wealth partner firm adds Texas RIA with $400M in assets
The Sanctuary Wealth network is expanding through an addition to partner firm mFORCE Capital.
Newly launched Fossil Rock Private Wealth, a Fort Worth, Texas RIA with $400 million in total client assets, will join mFORCE Capital under the leadership of former Merrill Lynch wealth advisor Larry Milton, who will be recognized as the co-founder. This will bring mFORCE Capital's $1.9 billion in total client assets to $2.3 billion.
Milton brings 37 years of experience, having worked across his career at firms including Lehman Brothers, UBS PaineWebber, Raymond James, Merrill Lynch and Truist.
Newly launched Fossil Rock Private Wealth, a Fort Worth, Texas RIA with $400 million in total client assets, will join mFORCE Capital under the leadership of former Merrill Lynch wealth advisor Larry Milton, who will be recognized as the co-founder. This will bring mFORCE Capital's $1.9 billion in total client assets to $2.3 billion.
Milton brings 37 years of experience, having worked across his career at firms including Lehman Brothers, UBS PaineWebber, Raymond James, Merrill Lynch and Truist.
First Manhattan buys RIA with $350M in AUM
Investment advisory firm First Manhattan has acquired a Jersey-based RIA.
Founded by Edwin Vroom in Jersey City, New Jersey in 1978, Roanoke Asset Management manages portfolios for affluent clients and employee benefits for Fortune 100 companies and brings to First Manhattan $350 million in assets under management.
Vroom will serve as senior managing director and portfolio manager, as will Adele Weisman, who joined Roanoke in 1981, according to LinkedIn.
Founded by Edwin Vroom in Jersey City, New Jersey in 1978, Roanoke Asset Management manages portfolios for affluent clients and employee benefits for Fortune 100 companies and brings to First Manhattan $350 million in assets under management.
Vroom will serve as senior managing director and portfolio manager, as will Adele Weisman, who joined Roanoke in 1981, according to LinkedIn.
mino21 - stock.adobe.com
UBS names two new market directors
DeAnne Steele, formerly an executive director with Merrill Lynch, will lead the Carmel Valley and Rancho Bernardo offices. George Towers III, previously UBS' associate market executive for the Pacific desert market, will head the La Jolla and downtown San Diego offices.
Steele joined Merrill Lynch in 2019 after five years at Bank of America Private Bank, holding business development roles. Towers entered the industry in 2021 with UBS.
