Recent Wealth Management Acquisitions in Alabama
Acquisition Volume in Wealth Management in Alabama by Year
Last 5 years
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May 29, 2025
- Buyer
- Summit Financial, Summit Growth Partners
- Target
- Parsons Broach Financial Services
- Seller
- Raymond James
- Industry
- Wealth Management
- Location
- Alabama, United States
- Type
- Growth capital
Summit Financial, through its Summit Growth Partners platform, made a minority investment in Parsons Broach Financial Services, a Montgomery, Alabama-based wealth advisory firm that manages more than $250 million in assets. The deal brings the Parsons Broach team onto Summit's partnership platform to accelerate growth and provide the firm with additional resources, technology, and strategic support.
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- Buyer
- Long Ridge Equity Partners
- Target
- RFG Advisory
- Industry
- Wealth Management
- Location
- Alabama, United States
- Type
- Growth capital
Long Ridge Equity Partners led a growth capital investment in RFG Advisory, a turn-key platform for independent financial advisors that supports more than 100 advisors and oversees over $4 billion in assets. The investment will fund enhancements to RFG’s technology and go-to-market capabilities and support executive team expansion; Andrew Cedar and Doug Nelson will join the Board of Managers.
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April 4, 2022
- Buyer
- WA Asset Management
- Target
- Clark Financial Advisors
- Industry
- Wealth Management
- Location
- Alabama, United States
- Type
- Addon
WA Asset Management (WAAM), a Birmingham-based registered investment adviser, has acquired Clark Financial Advisors, a fee-only investment management and financial planning firm based in Birmingham, Alabama. The deal closed March 31, 2022, will add approximately $270 million of assets under management to WAAM, and brings the entire CFA team into WAAM; WAAM previously received a strategic growth investment from Wealth Partners Capital Group and HGGC in December 2021.
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