Steward Partners Global Advisory has expanded its footprint in upstate New York by acquiring a seven-advisor team based in the Rochester area. The team, formerly operating as Wisdom Rock Financial Advisory, manages more than $500 million in client assets and was founded by Michael Keys and Christopher Neitz nearly four decades ago.
Wisdom Rock built its practice around estate planning, tax strategy, and retirement income as core disciplines rather than ancillary services. Keys cited cultural alignment as the primary driver for the deal. "What stood out about Steward immediately was that they wanted to get to know us as people before they ever looked at our numbers," he said.
The acquisition is part of Steward's dedicated M&A channel, which allows advisory teams to maintain their brand and client relationships while gaining a succession path. Chief Growth Officer Scott Danner noted that Wisdom Rock exemplifies the type of team the channel was designed for. Steward, which oversaw nearly $50 billion in client assets as of March, ranked ninth on Barron's 2025 Top 100 RIA Firms list.
Wealth Enhancement also disclosed a second transaction this week, acquiring Sherpa Wealth Strategies, a hybrid RIA in Bend, Oregon. Founded by Brian Stallcop in 2011, Sherpa manages over $108 million in client assets and operates a coaching-oriented model focused on retirement planning, tax-efficient strategies, and multigenerational wealth transfer. The firm primarily serves high-net-worth individuals, families, and business owners. The deal brings Wealth Enhancement's total assets to more than $148.2 billion.
Stallcop called the partnership "an important milestone" in his firm's long-term vision, adding that clients will benefit from a broader ecosystem of specializations. CEO Jeff Dekko emphasized that Sherpa's reputation for trust and transparency made the partnership appealing. Sherpa's hybrid structure—holding both RIA and broker-dealer registrations—has become increasingly attractive to acquirers seeking flexible revenue models.
Savant Wealth Management completed two deals of its own this week. The first, acquiring North Ridge Wealth Advisors in Beaverton, Oregon, gives Savant its first presence in the state. Founded by Brian Lawrence in 2011, North Ridge manages approximately $223 million in client assets. Partner Adam Cornwell said joining Savant allows the firm to spend less time on business management and more on clients. Lawrence and Cornwell join as member-owners, while two other team members become employees.
The second Savant deal adds Desmond Wealth Management, a Walnut Creek, California firm founded over two decades ago by Gregory Desmond, a CPA and CFP. Desmond built his practice around integrated investment advice and tax planning, managing roughly $148 million in client assets. Two Desmond employees will join Savant Tax & Consulting, deepening the firm's in-house tax capabilities. Savant also acquired Desmond Consulting Group, which handles tax preparation and business advisory services.
CEO Brent Brodeski said the Desmond deal reinforces Savant's strategic direction, noting that tax planning plays a central role in client decision-making. The acquisitions come amid a broader wave of consolidation in the RIA space, as firms seek to scale while preserving the boutique service models that attract high-net-worth clients. For more on recent M&A activity, see Sanctuary Wealth Backs LGBTQ+-Focused RIA Launch; Maridea Enters Florida via Acquisition; Halbert Hargrove Reaches $4.2B and Mariner, Savant, Cerity Partners Expand with Niche Acquisitions in California and New Mexico.
