Deals & Recruiting Roundup: Bluespring, LPL, McKinsey, Mariner And More

Acquisitions, partnerships, and new hires in the wealth management industry

Feb. 18, 2026 at 12:47pm

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This week's roundup includes Bluespring acquiring SHP Financial, McKinsey selling MIO Partners to Neuberger Berman, CAPTRUST buying Alpha Cubed Investments, Cerity Partners merging with Verus Investments, ECHELON publishing its 2025 RIA M&A report, LPL recruiting Sound Wealth, Raymond James recruiting a $730 million Wisconsin team, and Mariner partnering with State Street.

Why it matters

The continued consolidation and M&A activity in the wealth management industry highlights the drive for scale, capabilities, and strategic partnerships as firms position themselves for the future. The recruiting moves also demonstrate the competition for top advisory talent.

The details

Bluespring Wealth Partners, a Kestra Holdings subsidiary, acquired SHP Financial, a $2.3 billion RIA in Massachusetts. McKinsey & Company sold its investment and wealth management arm MIO Partners, with $26 billion in AUM, to Neuberger Berman. CAPTRUST brought on Alpha Cubed Investments, a $3.8 billion RIA, and Cerity Partners is merging with Verus Investments, which serves clients with $1.2 trillion in assets. ECHELON Partners predicts another strong year for RIA M&A in 2026. LPL Financial recruited a $420 million team from Ameriprise, and Raymond James brought on a $730 million team from Commonwealth Financial Network. Mariner will implement State Street's Charles River platform to support its growth plans.

  • The Bluespring-SHP Financial deal closed on December 31, 2025.
  • The McKinsey-Neuberger Berman transaction is expected to close in 2026.
  • ECHELON published its 2025 RIA M&A Deal Report.
  • The Cerity Partners-Verus Investments merger is expected to close at the end of the first quarter of 2026.
  • The CAPTRUST-Alpha Cubed Investments deal closed in January 2026.

The players

Bluespring Wealth Partners

A subsidiary of Kestra Holdings that acquired SHP Financial.

SHP Financial

A $2.3 billion RIA based in Massachusetts that was acquired by Bluespring.

McKinsey & Company

A global management consulting firm that sold its investment and wealth management arm, MIO Partners, to Neuberger Berman.

Neuberger Berman

An investment management firm that acquired MIO Partners, McKinsey's $26 billion investment and wealth management arm.

CAPTRUST

A wealth management firm that acquired Alpha Cubed Investments, a $3.8 billion RIA.

Cerity Partners

A wealth management firm that is merging with Verus Investments, an institutional investment consulting and advisory firm with $1.2 trillion in client assets.

ECHELON Partners

A consulting and investment banking firm that published its 2025 RIA M&A Deal Report.

LPL Financial

A broker-dealer and RIA platform that recruited the $420 million Sound Wealth team from Ameriprise.

Raymond James

A financial services firm that recruited a $730 million team from Commonwealth Financial Network.

Mariner

A wealth management firm that is implementing State Street's Charles River platform to support its growth plans.

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What they’re saying

“We are deeply protective of the culture we've built over the last two decades and were intentional about choosing a partner we felt could help us fuel SHP's next stage of growth while helping us remain true to our goals.”

— Matthew C. Peck, Founding Partner, SHP Financial

“McKinsey set out to find a long-term partner that could build on what makes MIO great. Neuberger is that partner. Their record in both investment and wealth management, and their partnership culture, convinced us that they were the right long-term steward of MIO, and we're excited to see what the future brings.”

— Bob Sternfels, Global Managing Partner, McKinsey & Company

“We are thrilled to welcome our new colleagues from Verus, which brings decades of experience and incredible expertise in helping institutions achieve their financial goals.”

— Kurt Miscinski, CEO, Cerity Partners

“From our earliest conversations, it was clear that Alpha Cubed Investments shares our commitment to putting clients at the center of every decision. ACI brings a differentiated, organic growth strategy built around highly effective advisory teams.”

— Mike Wunderli, Managing Director & Head of Mergers and Acquisitions, CAPTRUST

“At Sound Wealth, our relationships with clients are deeply personal. We take the time to truly understand each family's goals, values and the emotional context behind their financial decisions.”

— Britt Saylor, Co-Founder, Sound Wealth

What’s next

The judge in the case involving Walker Reed Quinn will decide on Tuesday whether or not to allow him out on bail.

The takeaway

The continued consolidation and M&A activity in the wealth management industry highlights the drive for scale, capabilities, and strategic partnerships as firms position themselves for the future. The recruiting moves also demonstrate the competition for top advisory talent as firms look to expand their reach and service offerings.