Three independent wealth management firms announced advisor additions this week, collectively bringing more than $1.5 billion in client assets to their platforms. The moves underscore the accelerating shift of experienced advisors from wirehouses and regional broker-dealers to independent models.
Ascentis adds four practices with $1B
Dallas-based Ascentis Independent Advisors landed the largest haul, welcoming four advisory practices—Capital Waypoint, Citrus Wealth Management, IMPACT Financial Strategies, and Rooted Wealth Management—that together brought over $1 billion in assets. The teams, which had operated as a unified Raymond James Financial Services branch since 2022, span offices in California and Colorado. They will continue to use Raymond James as their primary custodian.
Michael Mansur, CEO of Ascentis Holdings, emphasized the firm's role in preserving advisor autonomy while providing support. The practices serve a diverse clientele, from retiring utility workers in California's Inland Empire to business owners and philanthropically focused clients in Fort Collins, Colorado.
IMPACT Financial Strategies, the largest of the four with approximately $303 million in assets as of Sept. 15, 2026, is led by Justin Davis, a 25-year industry veteran. Capital Waypoint, led by Jarrod C. Martinez, adds about $256 million. Rooted Wealth Management and Citrus Wealth Management contribute approximately $275 million and $230 million, respectively.
Clint Sorenson, chief investment officer of Ascentis Asset Management, said the firm's investment infrastructure was a key draw. The RIA channel is seeing a recruitment boom, with Cerulli Associates projecting an 11.8% headcount increase in the independent RIA channel by 2028—more than double the growth rate of the next-fastest-growing channel. This tailwind benefits platforms of all sizes, from large aggregators to boutique affiliation models like Ascentis.
Prospera expands in Florida
Prospera Financial Services, also based in Dallas, announced that John Farren of St. Pete Beach, Florida, joined as managing director of Farren Private Wealth. Farren brings over three decades of experience advising high-net-worth individuals, institutional clients, and business owners, with a focus on retirement planning, 401(k) rollovers, and custom portfolio construction. He holds a Private Investment Management designation, allowing discretionary investment decisions.
Farren said he was drawn to Prospera's scale and personalized support after time at larger firms. Prospera president and COO Tarah Williams noted the firm's ongoing effort to attract advisors who share its service philosophy. Founded in 1982, Prospera supports 230 independent advisors and more than $30 billion in client assets, with a 2.5-to-1 advisor-to-home-office staff ratio.
According to Charles Schwab's 2026 RIA Benchmarking Study, 75% of RIAs with at least $250 million in assets hired employees during 2025, and the same share plans to hire in 2026. This indicates that recruitment is a long-term strategic priority, creating a competitive market for established advisors.
DayMark opens fourth Florida office
DayMark Wealth Partners, a Cincinnati-based RIA and Dynasty Financial Partners member, opened its fourth Florida office in under 18 months. The DeLand location, operating since Oct. 2, 2026, is led by managing partners Sidney Taylor and Jim Huster, who joined from Morgan Stanley. The pair brought $250 million in client assets and a practice focused on multigenerational family planning and institutional investment consulting. DayMark's Florida expansion follows locations in Fort Lauderdale, Stuart, and Sarasota.
Mike Quin, DayMark's founding partner and CEO, highlighted the team's experience in multigenerational private-client and institutional consulting. Shirl Penney, founder and CEO of Dynasty Financial Partners, pointed to DayMark's growth since its founding in 2022 as evidence of a clear market position. The moves reflect a broader trend of advisors seeking independence while maintaining robust support infrastructure.
