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Arkansas-based RIA Sowell Management has launched its advisor partnership program, after the firm received an undisclosed minority equity stake from private equity firm Merchant.  Sowell Management’s newly launched equity program allows its new and existing advisors to gain access to opportunities that provide resources and capital for bolstering their practices.  Merchant’s minority stake in Sowell will go towards funding the program and will also be used to grow its technology and investment ...

RIA Allworth Financial has received its third funding round, which was led by private equity firm Integrum Holdings and includes former investors Lightyear Capital and Ontario Teachers’ Pension Plan.  As part of the undisclosed stake, Allworth’s management team will continue to lead the firm, and existing employee and advisor shareholders will maintain significant ownership of the firm.  “With all three investors at the table, we ...

Mesirow, an employee-owned financial services firm, will be acquiring LeafHouse Financial Advisors, a division of LeafHouse Financial Group, which will be merged into Mesirow’s fiduciary business.  As part of the transaction, Mesirow will also make an undisclosed investment in LeafHouse Financial to support the firm’s build-out of its technology platform.   Additionally, LeafHouse’s advisory business will operate as part of Mesirow Fiduciary Solutions, and the acquisition will broaden Mesirow’s fiduciary solutions capabilities with LeafHouse’s retirement plan services.  The transaction, which is expected to close in the ...

Two former advisors affiliated with UBS Financial Services, have left the wirehouse to launch its independent advisory firm, backed by Sanctuary Wealth.  Advisors Brad Desormeaux and Abigail Allsup have launched Coeur d’Alene, ID-based Iron North Private Wealth, which offers “comprehensive” wealth management services, including financial and retirement planning, investment management, tax planning, estate and trust planning, and philanthropic strategies.  Iron North Private Wealth also includes wealth ...