Financial Services Acquisitions in Virginia
Virginia Financial Services M&A
Virginia-based financial services deals over recent years span wealth management RIAs, mortgage lending platforms, investment banking specialties, and private credit capabilities. The activity highlights how firms add advisor teams, deepen client advisory capacity, and expand regional footprints across the Mid-Atlantic and beyond.
Across 2020–2025 transactions, a recurring theme is consolidation through RIA buy-ins and capability tuck-ins—such as Apella Wealth’s multiple acquisitions and other buyers bringing on advisory teams. Other transactions reflect financial services convergence with adjacent specialty markets, including government/defense technology advisory and private credit investment strategies.
This page focuses on what these deals tend to do in practice: integrate client-facing teams, broaden services (including advisory and, in some cases, CPA expertise), and grow lending or investment platforms within Virginia, the Washington, D.C. region, and wider Southeastern corridors.
What Stands Out
- Apella Wealth and Apella Capital (DBA Apella Wealth) appear repeatedly, reflecting ongoing consolidation in Virginia and the Washington, D.C. region.
- Wealth management acquisitions often bring over existing advisory teams and expand assets under management or advisement (e.g., Hemington Wealth Management; ClearLogic Financial; AOG Wealth Management).
- Mortgage lending activity includes geographic expansion and operational scale, as seen in Atlantic Coast Mortgage (ACM) acquiring Tidewater Mortgage Services.
- Specialty financial services deals include integrating a niche investment banking team (Piper Sandler + G Squared Capital Partners) and expanding private credit capabilities (Stonepeak + Boundary Street Capital).
| Buyer (recurring) | Deal focus shown | Virginia connection |
|---|---|---|
| Apella Wealth | RIA consolidation and advisory expansion | Williamsburg/Reston-area presence; Washington, D.C. region growth |
| F.L.Putnam | Advisor platform expansion | Adds Reston, Virginia-based AOG Wealth Management |
| Stonepeak | Private credit platform capability | Strengthens Virginia-linked investing footprint (Boundary Street closed in Jan 2025) |
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December 31, 2025
- Buyer
- Apella Wealth
- Target
- PBMares Wealth Management, LLC
- Seller
- PBMares LLP
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Addon
Apella Wealth announced that PBMares Wealth Management, the wealth management division of PBMares LLP based in Williamsburg, Virginia, has joined Apella, expanding the firm's Mid‑Atlantic presence. The deal closed December 31, 2025 and brings Apella closer to $10 billion in assets under management while adding advisory and CPA expertise to its platform.
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December 30, 2025
- Buyer
- Atlantic Coast Mortgage, LLC (ACM), FVCbank (FVCBankcorp, Inc.)
- Target
- Tidewater Mortgage Services, Inc.
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Atlantic Coast Mortgage, LLC (ACM), a mortgage lender affiliated with FVCbank, has acquired Tidewater Mortgage Services, Inc., a Coastal Virginia-based residential mortgage lender. The deal adds approximately 45 loan officers and support staff, expands ACM’s footprint in the Mid‑Atlantic and Southeast, and is expected to be accretive to ACM’s production in 2026.
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November 19, 2025
- Buyer
- Beacon Pointe Advisors
- Target
- Hemington Wealth Management
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Beacon Pointe Advisors has acquired Hemington Wealth Management, a female-founded RIA with approximately $1.2 billion in client assets and a 16-person team operating from Falls Church, Virginia and Chicago, Illinois. The deal, which closed November 15, 2025, increases Beacon Pointe's assets under advisement to about $55 billion and strengthens its women-centered advisory capabilities.
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August 6, 2025
- Buyer
- Sammons Financial Group
- Target
- Wealthcare Capital Management
- Seller
- NewSpring Holdings
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Sammons Financial Group has acquired Wealthcare Capital Management from NewSpring Holdings in a transaction announced in mid‑2025. Wealthcare, an advisor‑focused RIA that recently surpassed $9 billion in AUM and supports ~191 advisors across 29 states, will join Sammons to expand the buyer’s wealth management and advisor‑support capabilities.
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- Buyer
- Marlin Leasing Corporation (dba PEAC Solutions), HPS Investment Partners, LLC
- Target
- ePlus U.S. financing business
- Seller
- ePlus inc.
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Divestiture
Marlin Leasing Corporation (dba PEAC Solutions), a portfolio company of funds sponsored by HPS Investment Partners, has closed the acquisition of ePlus inc.'s U.S. financing business, effective June 30, 2025. ePlus sold the unit to focus on its technology solutions and to free up capital for organic and inorganic investments.
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June 30, 2025
- Buyer
- Apella Wealth
- Target
- Independence Wealth Advisors
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Apella Wealth has onboarded Independence Wealth Advisors, a fee-only RIA founded by Kathleen Duffy, adding $207 million of AUM. The deal closed on June 30, 2025, expanding Apella's presence in the Washington, D.C. region and bringing additional advisory capability to its employee-owned RIA platform.
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June 23, 2025
- Buyer
- Focus Partners Wealth, LLC, Focus Financial Partners Inc
- Target
- David Wealth Management, LLC
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Addon
Focus Financial Partners’ wealth platform, Focus Partners Wealth, will acquire David Wealth Management, LLC. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions.
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- Buyer
- Sammons Financial Group
- Target
- Wealthcare LLC
- Seller
- NewSpring Holdings
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Sammons Financial Group has signed a definitive agreement to acquire Wealthcare, a registered investment advisor (RIA) with offices in Richmond, Virginia and Philadelphia. The deal adds nearly 200 independent advisors and more than 12,000 clients, and is expected to close subject to customary regulatory approvals.
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- Buyer
- TowneBank
- Target
- Old Point Financial Corporation, The Old Point National Bank of Phoebus
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
TowneBank and Old Point Financial Corporation announced an agreement and plan of merger in which TowneBank will acquire Old Point and Old Point National Bank. The all-cash or stock consideration values the deal at approximately $203 million based on Old Point’s outstanding common stock, and the transaction is expected to close in late 2025 subject to customary conditions.
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March 4, 2025
- Buyer
- F.L.Putnam Investment Management Company
- Target
- AOG Wealth Management
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
F.L.Putnam Investment Management Company has acquired AOG Wealth Management, an independent registered investment advisor based in Reston, Virginia, with more than $330 million in assets under management. The deal expands F.L.Putnam's geographic footprint (its 10th office) and brings AOG's nine-person advisory team and leadership into F.L.Putnam; financial terms were not disclosed.
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- Buyer
- Trifecta Collective LLC, GreyLion
- Target
- TRANSACT
- Seller
- Electronic Transactions Association (ETA)
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Addon
Trifecta Collective LLC, a trade-show platform backed by private equity firm GreyLion, has acquired TRANSACT from the Electronic Transactions Association (ETA). TRANSACT is a leading annual payments industry event (250+ exhibitors, ~3,000 attendees) and will be added to Trifecta's growing portfolio of B2B events.
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April 16, 2024
- Buyer
- Apella Capital, LLC (DBA Apella Wealth)
- Target
- ClearLogic Financial, Inc.
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Apella Wealth (Apella Capital, LLC) has acquired ClearLogic Financial, Inc., a Reston, Virginia-registered investment advisor, adding approximately $464 million of AUM and establishing Apella's presence on the East Coast. The entire ClearLogic team will join Apella, with ClearLogic President Mark Atherton becoming Regional Director; the transaction closed April 12, 2024 and terms were not disclosed.
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- Buyer
- Atlantic Union Bankshares Corporation
- Target
- American National Bankshares Inc.
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Atlantic Union Bankshares Corporation completed its merger with American National Bankshares Inc., effective April 1, 2024, in a stock-for-stock transaction valued at approximately $507 million. The deal expands Atlantic Union's footprint across Central, Western and Southern Virginia and provides entry into North Carolina's Piedmont Triad and Raleigh markets.
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- Buyer
- Clearstead Advisors, LLC
- Target
- Wilbanks Smith and Thomas Asset Management, LLC
- Seller
- Wilbanks Smith and Thomas Asset Management, LLC
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Clearstead Advisors has acquired the assets of Wilbanks Smith and Thomas Asset Management (WST), a Norfolk, Virginia-based wealth and investment management firm that manages over $5 billion in assets. The deal expands Clearstead’s geographic presence in the Mid-Atlantic and Southern states, brings six WST partners into Clearstead as shareholders, and increases the combined firm to roughly $44 billion in assets under advisement and 225 employees.
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- Buyer
- Fifth Third Bancorp, Fifth Third Bank
- Target
- Rize Money, Inc.
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Fifth Third Bancorp (through an indirect wholly owned subsidiary of Fifth Third Bank) has acquired Arlington, Virginia–based embedded payments platform Rize Money, Inc. The deal expands Fifth Third’s embedded payments and treasury management capabilities, enhancing its API-driven fintech infrastructure; financial terms were not disclosed.
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September 9, 2022
- Buyer
- Wealthcare Capital Management LLC (Wealthcare)
- Target
- Fellows Financial Group
- Seller
- Blake Fellows
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Addon
Wealthcare Capital Management LLC, a NewSpring Holdings platform company, acquired Fellows Financial Group, an independent financial advisory firm based in Leesburg, Virginia. The acquisition expands Wealthcare's presence in the direct advisory channel, adds employee advisors and clients, and provides a succession plan for Fellows Financial's founder while deepening operational alignment with Wealthcare's platform and technology.
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- Buyer
- Mercer Global Advisors, Inc.
- Target
- Harrison & Company Wealth Management, LLC
- Seller
- Harrison & Company Wealth Management, LLC, Bruce H. Harrison, Ian A. Hamre
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Addon
Mercer Advisors, a national Registered Investment Adviser, has acquired Harrison & Company Wealth Management, LLC, a Roanoke, Virginia-based wealth management firm that serves approximately 120 clients with about $150 million in AUM. The Harrison team, led by Bruce H. Harrison and Ian A. Hamre, will join Mercer Advisors as the deal expands Mercer’s East Coast presence and adds in-house family office and back-office capabilities.
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June 30, 2022
- Buyer
- AnnieMac Home Mortgage
- Target
- OVM Financial
- Seller
- OVM Financial owners, Matt Beckwith
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
AnnieMac Home Mortgage has acquired Virginia-based OVM Financial to expand its presence in the mid-Atlantic United States. OVM Financial is a $1.7 billion purchase-focused mortgage originator with over 220 employees and branch offices across Virginia, North Carolina, Texas and Florida; OVM's owners (including Matt Beckwith) and key executives will take leadership roles at AnnieMac.
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- Buyer
- Integrated Financial Partners, Integrated Partners
- Target
- Wagner Resources Group
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Addon
Integrated Financial Partners, an affiliate of Integrated Partners, has acquired Wagner Resources Group, adding advisor Phylyp Wagner (and advisor Matt Quattlebaum) and nearly doubling the affiliate’s assets under management from $450 million to $810 million. The deal was supported operationally and legally by Integrated Partners to ensure a rapid, seamless transition for clients and staff.
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- Buyer
- Blue Ridge Bankshares, Inc., FVCBankcorp, Inc.
- Target
- FVCBankcorp, Inc.
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Divestiture
Blue Ridge Bankshares, Inc. and FVCBankcorp, Inc. mutually agreed to terminate their previously announced all-stock merger of equals. The companies cited the boards’ conclusion that it would not be prudent to continue pursuing the transaction, and neither party will pay a termination fee.
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December 31, 2021
- Buyer
- Regions Financial Corporation
- Target
- Clearsight Advisors
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Regions Financial Corporation has completed the acquisition of Clearsight Advisors, an M&A and capital-raising advisory firm. The deal brings Clearsight into Regions Bank’s Capital Markets division to expand Regions’ M&A advisory and technology-sector capabilities; Clearsight will retain its McLean, Virginia headquarters and existing offices in New York and Dallas.
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- Buyer
- United Bankshares, Inc.
- Target
- Community Bankers Trust Corporation, Essex Bank
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
United Bankshares, Inc. completed its acquisition of Community Bankers Trust Corporation, the parent company of Essex Bank, adding an organization with approximately $1.7 billion in assets and headquarters in the greater Richmond, Virginia region. The deal expands United’s Mid‑Atlantic footprint into additional Virginia and Maryland markets; former Community Bankers Trust President and CEO Rex L. Smith III was retained as a Regional President for the former Essex Bank locations.
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December 1, 2021
- Buyer
- Mercer Global Advisors, Inc. (Mercer Advisors)
- Target
- Precipio Wealth Management LLC
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Precipio Wealth Management LLC, a McLean, Virginia-based wealth management firm with approximately $250 million in assets under management serving clients in 19 states. The deal brings Precipio's team into Mercer Advisors as part of the founders' succession planning and expands Mercer’s presence in the Washington, D.C. / Mid-Atlantic region.
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November 2, 2021
- Buyer
- Security Credit Services
- Target
- Jormandy, LLC
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Oxford, Mississippi-based Security Credit Services (SCS) has acquired Jormandy, LLC, a receivables purchaser and collector headquartered in Norfolk, Virginia. Jormandy’s existing leadership (including Diane Manning) and staff will remain in place as SCS continues the Jormandy brand and Virginia operations; SCS is owned by privately held EquiPro Holdings.
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September 7, 2021
- Buyer
- HUB International Limited
- Target
- Millennium Advisory Services, Inc.
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
HUB International Limited has acquired Millennium Advisory Services, Inc., a fee-only financial planning and asset management firm based in Glen Allen, Virginia. The acquisition (terms undisclosed) brings Millennium's team, including co‑founders Paul Hunt and Steve Anderson, into HUB's Retirement and Private Wealth (Hub RPW) Mid‑Atlantic practice to strengthen HUB's presence in Virginia and the education/endowment markets.
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November 4, 2020
- Buyer
- Trustar Bank
- Target
- Granite Mortgage, LLC
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Trustar Bank has acquired Fairfax-based Granite Mortgage, LLC, making Granite a wholly owned subsidiary to enable the bank to launch a full-service residential mortgage business line. The deal expands Trustar's product offerings — including portfolio, jumbo and construction-to-perm loans — and aims to broaden lending across new states and the DC/MD/VA market.
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April 28, 2020
- Buyer
- Genesis Credit (a brand of Genesis Financial Solutions)
- Target
- Tidewater Credit (TWC)
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Genesis Credit, a brand of Genesis Financial Solutions, has acquired Tidewater Credit (TWC) and its private-label merchant relationships. The acquisition consolidates Genesis Credit's position in near-prime/private-label second-look consumer financing and will migrate TWC’s retail partnerships to GFS platforms; terms were not disclosed and TWC’s CEO Nathan Benson will remain as a short-term consultant during the transition.
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February 20, 2020
- Buyer
- Morgan Stanley
- Target
- E*TRADE Financial Corporation
- Seller
- E*TRADE stockholders
- Industry
- Financial Services
- Location
- Virginia, United States
- Type
- Buyout
Morgan Stanley agreed to acquire E*TRADE in an all-stock transaction valued at about $13 billion, with E*TRADE stockholders receiving 1.0432 Morgan Stanley shares per E*TRADE share. The deal expands Morgan Stanley’s Wealth Management scale and digital capabilities by combining its advisor-driven business with E*TRADE’s direct-to-consumer brokerage, digital banking and workplace stock-plan capabilities. The transaction is expected to deliver cost and funding synergies and is subject to customary regulatory and shareholder approvals.
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Frequently Asked Questions
Which types of financial services acquisitions are most common in Virginia here?
Most activity centers on wealth management—especially RIA acquisitions that add advisor teams and assets—along with mortgage lending, specialty investment banking, and private credit investing platform expansions.
How does Apella Wealth’s acquisition activity show up across the Virginia deals?
Apella Wealth (and Apella Capital, LLC (DBA Apella Wealth)) is repeatedly listed as the buyer, including transactions that onboard RIAs and expand presence into the Washington, D.C. region and additional advisory capabilities.
Do any deals extend beyond pure wealth management in this Virginia set?
Yes. Examples include Atlantic Coast Mortgage (ACM) acquiring a residential mortgage lender, Piper Sandler buying a boutique focused on government services and defense technology advisory, and Stonepeak acquiring a private credit investment manager.
Are the deal locations limited to Virginia only?
The page’s transactions are presented with Virginia as the state focus, with several deals also tying into broader areas such as the Mid-Atlantic and the Washington, D.C. region (and in some cases teams operating in other cities as noted in the deal descriptions).