The pace of dealmaking among independent advisory firms shows no sign of slowing, with three separate announcements this week highlighting how consolidation continues to reshape the registered investment adviser (RIA) landscape. According to a midyear report from Berkshire Global Advisors, nationwide RIA M&A activity jumped nearly 40% in the first half of 2026 compared with the same period a year earlier. The latest moves from Las Vegas, New York, and Chicago fit squarely into that pattern of scale-building through recruiting, acquisitions, and outside capital.
Wealth Consulting Group surpasses $12 billion in AUA
The Wealth Consulting Group (WCG), a hybrid RIA platform based in Las Vegas, announced it has exceeded $12.1 billion in assets under advisement as of July 31. The firm attributes this milestone to a 27% growth rate over the past year, with more than $2.6 billion in recruited assets over the last 18 months. Founded in 1995 by Jimmy Lee, WCG launched its independent RIA platform in 2014 to allow advisors to maintain ownership of their practices while leveraging centralized operational support. Matt Gilliam, senior vice president of strategic partnerships, said the firm's growth stems from meeting advisors where they are—whether that means day-to-day operational help or assistance with succession and monetization planning. “We are experiencing significant growth, primarily because our firm has risen to the occasion and is meeting the needs of today's advisors,” Gilliam said. President Andy Kalbaugh pointed to the firm's Partners Program, which offers advisors a path to build enterprise value and access partial monetization on their own timeline. “Our value proposition and culture resonate with experienced advisors looking beyond payout for their final professional home,” Kalbaugh said.
Coastline secures $100 million credit facility
Coastline Wealth Management, a Long Island-based independent platform, closed a senior secured credit facility of up to $100 million from private credit firm Brightwood Capital Advisors. The firm also announced it had completed 12 acquisitions—a mix of full and partial practice purchases—that pushed its combined assets under management and administration past $6 billion. Founded in 2012 with roughly $20 million in starting assets, Coastline has completed more than 30 acquisitions and now serves over 10,000 clients nationwide. CEO Garrett Taylor said the new capital gives Coastline room to keep executing its acquisition strategy. “Surpassing $6 billion in assets is an exciting milestone and, more importantly, a reflection of the quality of the advisors and teams who continue to choose to build their future with us,” Taylor said. Chris Warren, managing director and co-head of capital markets at Brightwood, said the firm saw an opportunity to back a platform built for the current advisor market. “We were pleased to provide a financing solution that supports the company's immediate acquisition needs while giving the business the flexibility to pursue future opportunities,” Warren said.
Maridea expands Chicago footprint with Park Ridge Financial deal
Brooklyn-based Maridea Wealth Management acquired Park Ridge Financial, a Chicago advisory firm known for full-service planning spanning investment management, retirement strategy, and estate conservation. Park Ridge founder Rick Pucci, who led the firm for more than 17 years, is joining Maridea as senior investment advisor. His team will merge into Maridea's existing Chicago office, which opened in September 2025. Just a few months earlier, Maridea acquired Pinnacle Wealth Management, a Chicago RIA formerly affiliated with LPL. In June, Maridea extended its East Coast presence with the acquisition of Ashford Investment Advisors, marking its debut in Florida. CEO Mier Wang said Pucci's practice fit the firm's long-term ambitions in the market. “He has built an outstanding business by investing in great people, fostering a strong culture, and achieving consistent growth,” Wang said. Brian Sheehy, senior investment advisor in Maridea's Chicago office, said the combined team gives clients more resources without disrupting existing relationships. “Bringing our teams together under one roof gives clients a deeper bench in their own market—the same local relationships they have always had, now backed by the research, tax, and planning resources of a national firm,” Sheehy said.
The flurry of activity underscores the broader trend of RIAs seeking scale through acquisitions and strategic capital. As Hightower's recent addition of a $2.5 billion firm demonstrates, the appetite for larger deals remains strong. Similarly, Modera and Simplicity Group closed deals in New York and Alabama, further evidence of geographic expansion. Even as some firms focus on organic growth, the M&A route continues to attract both advisors seeking liquidity and platforms looking to broaden their footprint.
