In a busy week of dealmaking ahead of the Columbus Day weekend, three independent RIA platforms announced billion-dollar acquisitions that expand their geographic footprints and client-service capabilities.
Merit Financial Advisors, the Atlanta-based firm that operates both an independent broker-dealer and an RIA, acquired Moldenhauer & Associates of Orchard Park, N.Y. The practice manages roughly $1.1 billion for nearly 1,900 households, and its 12 employees will remain in place, giving Merit its first presence in the greater Buffalo market. The firm was founded by Richard Moldenhauer, who started in life insurance before shifting to financial planning and wealth management. His son, Brett Moldenhauer, joined more than two decades ago and now leads a multigenerational team that focuses on pre-retirees and retirees.
Moldenhauer & Associates has grown from under $150 million in assets when it affiliated with Commonwealth Financial Network in 2016 to more than $1 billion today, with an expected $100 million in new assets this year. The practice is well-positioned for succession: three advisors in their mid-to-late 30s have each been with the firm for over a decade, and a fourth has been there for more than four years. “As a business grows, succession and continuity become about much more than the individual owner,” Brett Moldenhauer said in a statement.
This is Merit’s 63rd acquisition overall and its 12th this year, putting its stated target of 15 deals for 2026 within reach. It is also the 10th former Commonwealth team to join Merit. As of Sept. 12, Merit reported $32.92 billion in assets across more than 70 offices, including $25.6 billion in advisory assets, $2.5 billion in brokerage, $3.02 billion in employer plans, and $1.8 billion in ESOP assets. David Wahlen, Merit’s executive vice president of strategic partners, noted that “succession does not have to mean exit,” pointing to the Moldenhauer team’s experienced next-generation advisors and strong organic growth.
Separately, Hightower moved Synergy Capital Solutions, a Bloomfield Hills, Mich.-based practice, into its centralized Hightower Signature Wealth platform. Synergy, which had about $1 billion in assets under management as of June 30, has been a Hightower partner since 2017. The practice serves a diverse client base nationwide with 15 professionals, including seven advisors. Mark Burns, co-founder, CEO, and CIO, said joining HTSW “gives us a stronger foundation to carry on the legacy we have created over the past 42 years.” Synergy will retain office space in Bloomfield Hills, Naples, Fla., and Lebanon, Pa.
Hightower’s Signature Wealth platform has grown to about $40 billion in AUM as of June 30, with over 160 advisors across more than 35 locations. The platform has been absorbing practices at a steady pace since launching a year ago, most recently agreeing to acquire a boutique firm in Massachusetts late last month. This move follows Hightower's recent expansion as it pushes toward its $50 billion goal.
In a third deal, Trilogy Capital of Irvine, Calif., acquired Mountain Capital Investment Advisors of Westminster, Colo. Mountain Capital, which has operated as a standalone SEC-registered investment adviser for 15 years, manages more than $1 billion in total client assets. The acquisition is Trilogy’s largest of 2026 and gives it its 11th office and second location in Colorado. The firm also has operations in California, Arizona, and Massachusetts.
Mountain Capital was founded in 2011 by Brandt Burns, a Marine Corps veteran and former airline pilot. The firm serves individuals, families, and small businesses, with a specialty in aviation professionals. Its staff includes current or former pilots and airline leaders. Mountain Capital also offers tax preparation and consulting services, including interview preparation for pilots, developed by co-founder Michelle Burns after 14 years as a senior manager. Trilogy said Mountain Capital’s services will be combined with Trilogy Tax & Consulting, an affiliated company, while the Mountain Capital brand and its leadership team will remain in place.
These transactions highlight the continued consolidation in the RIA space, with firms seeking to add scale and specialized expertise. For more on recent advisor moves, see record advisor movement in 2025 and Apella Wealth's recent acquisitions.
