RIA Roll-Up Momentum Continues: Corient and Carson Lead Latest Wave of Wealth Management Deals

By the Wealth Management Desk

The first quarter earnings season has put a spotlight on the fierce competition for financial advisor talent, with major firms openly touting their recruitment and retention spending. Against this backdrop, the registered investment advisor (RIA) consolidation wave shows no signs of slowing, as several prominent players announced strategic moves this week to expand their geographic reach and service capabilities.

Here’s a breakdown of the latest deals shaping the industry landscape.

Corient Plants a Flag in Silicon Valley

Corient, the Miami-based RIA platform owned by CI Financial (itself backed by Abu Dhabi's Mubadala Capital), has made a key acquisition in the heart of technology wealth. The firm has brought on Palo Alto Wealth Advisors, a team managing approximately $767 million in assets that specializes in serving tech professionals and entrepreneurs.

Founders Ryan Schmidt and Nate Blair, along with their team, will join Corient. In a statement, Corient CEO Kurt MacAlpine emphasized the strategic fit, noting the firm's existing "deep expertise" in the tech sector will be bolstered by Palo Alto Wealth's practice. Schmidt cited access to Corient's expanded platform—including tax, trust, and family office services—as a major driver for the deal, allowing them to enhance client service while maintaining their fiduciary focus.

This acquisition continues Corient's aggressive growth trajectory, following its headline-grabbing pursuit of multi-billion dollar deals in 2025, such as the pending acquisitions of Stonehage Fleming and Stanhope Capital Group.

Carson Group Fully Integrates a Long-Standing Partner

Omaha-based Carson Group, which has scaled to over $55 billion in assets, has completed the full acquisition of Schlipman Wealth, a partner firm since 2014. Based in Quincy, Illinois, with additional offices in Kansas and Missouri, the firm will now rebrand as Carson Wealth under the continued leadership of founder Mark Schlipman.

Schlipman, who started the firm in 1997 and grew it to over $500 million in AUM, stated that full integration provides "national brand recognition, scale and resources to pursue thoughtful acquisitions and growth." This move is part of Carson's broader strategy to convert successful partner firms into fully owned offices, a pattern seen in several 2025 transactions and continuing into this year.

Cetera Bolsters RIA Channel with Raymond James Team

Independent broker-dealer Cetera Financial Group has recruited Plains Wealth Management, a Houston-based team overseeing about $400 million in client assets, from Raymond James. Advisors Ronn Kudlacek, Brad Wilson, and Savara McDaniel will join Cetera’s employee-based RIA, The Retirement Planning Group.

For Kudlacek's team, the move marks a return of sorts to the Cetera ecosystem, following Cetera's acquisition of Avantax Investment Services in late 2023, where the advisors were previously affiliated. Kudlacek highlighted the group's tax planning strengths and the "succession solution optionality" as key factors in the decision.

Other Notable Moves

Mission Wealth's First Post-Investment Deal: Santa Barbara-based RIA Mission Wealth, which received a minority investment from private equity firm Great Hill Partners in May 2025, has made its first acquisition of the year. The firm has brought on PBL Wealth Management of Texas, founded by Adam Broughton, who manages roughly $94 million for high-income professionals.

Evolve Private Wealth Emerges: Los Angeles-based SLK Wealth Management, an employee-owned RIA with over $2 billion in AUM, has rebranded to Evolve Private Wealth. Founded in 2022 by former Wells Fargo Advisors, the firm left the Sanctuary Wealth network in 2025 to operate independently. The new name, according to the announcement, reflects its "evolution into a rapidly expanding multigenerational wealth management group."

Industry Voices: A Mix of Optimism and Skepticism

Michael Thorne, Senior Analyst at Clarion Research: "These deals are textbook examples of strategic market positioning. Corient is buying specific expertise in a lucrative vertical, while Carson is capitalizing on the deep trust already built within its partner network. This targeted approach to M&A is more sustainable than the indiscriminate roll-ups of the past."

David Chen, Principal at a boutique RIA in Seattle: "It's getting harder for true independents to compete. When a firm like Carson acquires a long-time partner, it sends a message about the endgame of these 'partner networks.' Is the goal collaboration, or is it ultimately assimilation? The line is blurring."

Rebecca Shaw, a financial advisor in Atlanta: "All this consolidation talk is exhausting. The CEOs on earnings calls boast about spending millions to recruit us, while the big RIAs buy each other. Does anyone remember the client in all this? The real story is whether these merged entities can actually deliver more personalized service, or if it's just about building asset monuments."

Eleanor Weinstock, Co-Founder of Evolve Private Wealth: "Our rebrand to Evolve isn't just a name change; it's a statement of intent. Leaving a network to go fully independent in 2025 was a calculated risk that has allowed us to control our destiny and directly invest in the bespoke 'family-office experience' our clients deserve. That's the real evolution."