Wealth Management Acquisitions in Maryland
Maryland Wealth Management Deal Trends
Maryland wealth management acquisitions shown here highlight a steady mix of registered investment adviser (RIA) expansions and platform add-ons, often centered in the Baltimore and Washington, D.C. metro areas. Across 2020–2026, buyers are using M&A to grow teams, extend geographic reach, and broaden advisory capabilities for individuals and families.
Several deals also emphasize integrated planning—pairing wealth advisory with tax, trust, and business or succession planning. Examples include Evermay Wealth Management combining with Novotny, Larash, Venters & Wolf to bring together wealth and tax/business advisory functions, and Creative Planning acquiring Burt Wealth Advisors to add wealth, tax, trust, and family office services to its platform.
Private equity-backed platforms and larger regional firms appear repeatedly as acquirers, while targets range from single-office RIAs to firms with established professional teams and meaningful assets under management (AUM).
What Stands Out
- Evermay Wealth Management merged with Novotny, Larash, Venters & Wolf in Maryland, adding tax and business advisory capabilities alongside wealth management.
- MAI Capital Management, Merit Financial Advisors, and Beacon Pointe Advisors each expanded in Maryland through RIA acquisitions that increased AUM and brought new advisory teams.
- Platform roll-ups are a recurring theme: Waverly Advisors acquired GGM Wealth Advisors as an add-on to its PE-backed platform supported by Wealth Partners Capital Group and HGGC.
- Integrated planning and succession themes appear in multiple transactions, including succession planning for founders and deeper business succession planning capabilities.
- Deal locations cluster in Maryland with cross-DC metro expansion (notably Rockville, Columbia, Baltimore, and Ellicott City).
-
- Buyer
- Evermay Wealth Management
- Target
- Novotny, Larash, Venters & Wolf, LLC
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Buyout
Evermay Wealth Management, a fee-only fiduciary RIA based in Arlington, Virginia, has merged with Novotny, Larash, Venters & Wolf (NLVW), a tax preparation and business advisory firm headquartered in Annapolis, Maryland. The deal brings roughly 25 NLVW professionals into Evermay (operating the tax practice as Evermay Tax LLC under Brandon Wolf, CPA, CFP) and expands Evermay’s capabilities to provide integrated wealth, tax, and business advisory services to NLVW’s ~1,000 clients.
-
January 15, 2026
- Buyer
- Cerity Partners
- Target
- SOL Capital Management
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Buyout
Cerity Partners has merged with SOL Capital Management, with SOL operating under the Cerity Partners name. The combination expands Cerity’s footprint in Maryland and the greater Washington, D.C. area and strengthens its investment and advisory capabilities for high- and ultra-high-net-worth clients; Houlihan Lokey advised SOL Capital and Nelson Mullins served as legal counsel.
-
December 4, 2025
- Buyer
- Creative Planning
- Target
- Burt Wealth Advisors
- Seller
- Burt Wealth Advisors, Fred Cornelius, Maria Cornelius
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Buyout
Creative Planning has acquired North Bethesda–based Burt Wealth Advisors, adding approximately $1 billion in assets under management to its platform. The acquisition expands Creative Planning's footprint in the Washington, D.C. area and gives Burt Wealth clients access to Creative Planning's broader wealth, tax, trust, and family office services.
-
November 14, 2025
- Buyer
- MAI Capital Management
- Target
- Court Place Advisors, LLC
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Buyout
MAI Capital Management, a Cleveland-based registered investment adviser, has acquired Court Place Advisors, an Ellicott City, Maryland RIA with $366 million in assets under management. The deal expands MAI’s Mid‑Atlantic footprint and adds $366 million to the firm’s AUM; terms were not disclosed.
-
October 3, 2025
- Buyer
- Merit Financial Advisors
- Target
- Obsidian Planning Solutions
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Buyout
Merit Financial Advisors acquired Obsidian Planning Solutions, adding $476 million in client assets and opening two new offices in Rockville and Columbia, Maryland. The deal—Merit's 50th acquisition—deepens Merit's business succession planning capabilities as partners Patrick Carroll and Todd Feldman and their team join Merit; financial terms were not disclosed.
-
March 25, 2025
- Buyer
- Waverly Advisors, LLC, Wealth Partners Capital Group, HGGC
- Target
- GGM Wealth Advisors
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Addon
Waverly Advisors, a PE-backed registered investment adviser, has acquired Baltimore-based GGM Wealth Advisors, adding a team that manages over $400 million in AUM and expanding Waverly’s footprint into Maryland and Virginia. The deal closed March 21, 2025 and is an add-on to Waverly’s platform (backed by Wealth Partners Capital Group and HGGC), increasing the platform’s total AUM to roughly $16.9–17.4 billion.
-
December 9, 2024
- Buyer
- MAI Capital Management, LLC
- Target
- Carmichael Hill & Associates, Inc.
- Seller
- Jim Stewart
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Buyout
MAI Capital Management announced the acquisition of Gaithersburg, Maryland-based Carmichael Hill & Associates, adding approximately $350 million in client assets under management. Carmichael Hill will adopt MAI's brand and infrastructure effective December 6, 2024; Principal Jim Stewart becomes Senior Wealth Advisor & Team Leader. Turkey Hill Management advised Carmichael Hill on the transaction; terms were not disclosed.
-
February 15, 2024
- Buyer
- Beacon Pointe Advisors
- Target
- Keeney Financial Group
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Buyout
Beacon Pointe Advisors has merged with Keeney Financial Group, an RIA based in Columbia, Maryland, bringing roughly $560 million in client assets and a ten-person team into Beacon Pointe’s platform. The deal, Beacon Pointe’s first in the mid-Atlantic, closed on February 15, 2024; financial terms were not disclosed.
-
November 3, 2023
- Buyer
- Hub International Limited
- Target
- Franklin Financial Group, LLC, Franklin Investment Group, LLC
- Seller
- Franklin Financial Group, LLC, William Franklin, Haswell Franklin Jr., James Franklin, Henry Franklin
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Divestiture
Hub International Limited has acquired the assets of Franklin Financial Group, LLC and Franklin Investment Group, LLC, expanding Hub’s employee benefits, retirement and wealth management presence in the Baltimore/Hunt Valley, Maryland area. The Franklin principals and team will join Hub Mid-Atlantic; terms were not disclosed and MarshBerry served as financial advisor to Franklin Financial Group.
-
July 19, 2023
- Buyer
- Specialty Program Group LLC (SPG)
- Target
- Agency Two Insurance Marketing Group, LLC (d/b/a AgencyONE)
- Seller
- Agency Two Insurance Marketing Group, LLC
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Addon
Specialty Program Group LLC (SPG) has acquired the assets of Agency Two Insurance Marketing Group, LLC (d/b/a AgencyONE), a Brokerage General Agency focused on life, annuities, disability and long-term care insurance. The deal brings AgencyONE's principals and underwriting and advanced-planning capabilities into SPG's life & annuity distribution network, expanding resources for financial advisors and augmenting SPG's existing BSMG division.
-
April 21, 2023
- Buyer
- MAI Capital Management, LLC
- Target
- Wiener Financial Management
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Buyout
MAI Capital Management, a Cleveland-based registered investment adviser, has acquired Wiener Financial Management, a Potomac, Maryland wealth advisory firm founded by Bruce Wiener. The deal (effective April 21, 2023) adds roughly $120 million in AUM to MAI’s platform and brings Bruce Wiener into MAI as Senior Wealth Advisor and Managing Director to deepen the firm's mid‑Atlantic presence.
-
August 2, 2022
- Buyer
- The Mather Group, LLC
- Target
- Seiffert Ltd.
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Buyout
The Mather Group (TMG), a Chicago-based wealth management firm with roughly $7.5 billion AUM, has acquired Seiffert Ltd., a Bethesda, Maryland registered investment adviser managing about $65 million in client assets. The transaction brings Seiffert's founder and key staff into TMG and provides succession planning for the founder while giving Seiffert's clients access to TMG's broader platform and services.
-
December 20, 2021
- Buyer
- MAI Capital Management, LLC
- Target
- Investment Planning Associates, Inc.
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Addon
MAI Capital Management, a Cleveland-based registered investment adviser owned by Galway Holdings, has acquired Investment Planning Associates (IPA) of Rockville, Maryland. The deal expands MAI’s Mid-Atlantic presence, adds approximately $235 million of assets under management to MAI, and brings IPA’s senior advisors into MAI’s wealth management team.
-
September 1, 2021
- Buyer
- Allworth Financial
- Target
- Novak Financial Planning
- Seller
- Dan Novak, Carol Novak
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Addon
Allworth Financial has acquired Novak Financial Planning, a Bel Air, Maryland-based RIA with approximately $365 million in AUM and roughly 450 advisory clients. The deal brings husband-and-wife founders Dan and Carol Novak into Allworth as equity partners and expands Allworth's national footprint from coast-to-coast.
-
July 31, 2020
- Buyer
- Franklin Resources, Inc. (Franklin Templeton)
- Target
- Legg Mason, Inc.
- Industry
- Wealth Management
- Location
- Maryland, United States
- Type
- Buyout
Franklin Resources (operating as Franklin Templeton) completed its acquisition of Legg Mason, creating one of the world’s largest independent investment managers with roughly $1.4–$1.5 trillion in combined AUM. The all-cash transaction (approximately $4.5 billion) included assumption of about $2 billion of Legg Mason debt; the firms said Legg Mason’s specialist investment affiliates will retain operational autonomy while benefiting from Franklin Templeton’s global platform and distribution.
Track M&A activity that matters to you
Get real-time deal alerts, build buyer lists with AI, and access our full acquisition database. Start your free trial today.
Frequently Asked Questions
What types of wealth management firms are acquiring in Maryland?
The deals feature registered investment advisers (RIAs) and wealth management platforms acquiring other RIAs, with some activity also expanding into adjacent advisory services such as tax and business advisory.
Do the acquisitions in Maryland focus only on wealth management, or also tax and planning services?
Several transactions explicitly expand beyond core wealth advisory. For example, Evermay Wealth Management combined wealth with tax/business advisory capabilities, and Creative Planning highlighted expanded wealth, tax, trust, and family office services after acquiring Burt Wealth Advisors.
Where in Maryland do these transactions tend to concentrate?
The page’s examples are largely Maryland-focused, with frequent ties to the Baltimore area and the Washington, D.C. metro, including locations such as Annapolis, Baltimore, Ellicott City, Bethesda, Gaithersburg, Rockville, and Columbia.
What is meant by an “add-on” deal in this Maryland wealth management context?
In at least one example, Waverly Advisors acquired GGM Wealth Advisors as an add-on to its existing platform, increasing team coverage and AUM while expanding geographic presence.