Wellington Management Acquires Hartford Funds
Wellington Management Co. LLP announced an agreement to acquire Hartford Funds, a subsidiary of the Hartford Insurance Group Inc. The Hartford will receive $300 million in cash at closing, and the net present value of the transaction is estimated to be $1.9 billion.
The deal is expected to close in the first quarter of 2027, subject to regulatory and fund approvals. Upon closing, Hartford Funds will be integrated into Wellington’s U.S. wealth business, and the business will operate under the Wellington brand.
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Wellington and Hartford Funds first partnered in 1978 and launched a sub-advisory partnership across mutual funds in 1984. Wellington now sub-advises 83% of Hartford Funds’ approximately $160 billion in assets, supported by a team of more than 160 professionals.
In addition to the $300 million in cash, the Hartford will receive additional payments based on the available after-tax cash generated by the combination of Hartford Funds’ and Wellington’s business, including the sale of Wellington-sponsored products in the U.S. wealth market over seven years.
Wellington Management oversaw more than $1.35 trillion in assets as of April 30.
Hartford Funds’ investment advisory business had $160.2 billion in discretionary and nondiscretionary assets under management as of April 30.
Prime Capital Taps Access Capital
Prime Capital Investment Advisors LLC added Financial Adviser Sean Spencer through its acquisition of Access Capital LLC. The Wichita, Kansas-based adviser joins Prime Capital Financial as a partner and managing director.
Spencer brings more than a decade of experience helping families, business owners and individuals navigate complex financial decisions, including business succession, estate and tax planning, and charitable strategies.
Spencer will work alongside Andy Merchant, managing director at Prime Capital Financial, to lead the firm’s continued growth in Wichita.
Bluespring Wealth Launches RIA
Bluespring Wealth Partners, a subsidiary of Kestra Holdings Inc., launched Bluespring Wealth Management LLC, a registered investment adviser under which the company’s partner firms will operate. The RIA will provide compliance capabilities to its independent RIA partner firms.
The first firms that will transition into the Bluespring RIA this year include Vector Wealth Management, Capital Planning Advisors, Bodell Frazier Investment Counselling, Joule Financial and Ritter Daniher Financial Advisory.
The RIA’s expanded compliance function is led by Rochelle Levy, Bluespring’s chief compliance officer, who brings regulatory expertise to the role.
CW Advisors Adds Catalina Capital Group
CW Advisors LLC, a subsidiary of Osaic Holdings Inc., announced that Catalina Capital Group LLC joined the Boston-based registered investment adviser. Torrance, California-based Catalina is a fee-only registered investment adviser with $655 million of assets under management and will be CWA’s first office in southern California.
Terms of the transaction were not disclosed.
With the addition of Catalina, CWA has 24 offices nationwide, including two in California. The firm employs more than 160 professionals and has more than $16 billion in assets under management.
MAI Capital Management Acquires Service Academy Capital Management
MAI Capital Management LLC, a registered investment adviser, acquired Service Academy Capital Management LLC, a Dallas-based RIA serving ultra-high-net-worth individuals and their families, institutions and family offices. SACMGT joined Evoke, MAI’s ultra-high-net-worth division, effective May 29.
Terms of the transaction were not disclosed.
Brian Sears founded SACMGT in 2015 with a specialty in delivering bespoke portfolios and financial planning advice, utilizing both private and public market investments.
Prior to founding SACMGT, Sears worked as a co-head of Barclays Wealth America, as a global co-head of distribution and product development for alternative investments at Neuberger Berman, and as a financial adviser at both Goldman Sachs and Merrill Lynch.
$640M Edward Jones Adviser Joins Perennial Financial Services
Financial Adviser Mike Russell joined Perennial Financial Services’ hybrid registered investment advisory platform from Edward Jones.
At Edward Jones, Russell served approximately $640 million in advisory, brokerage and retirement plan assets.
Russell joined Perennial because of the firm’s culture, platform capabilities, and prioritization of adviser independence and client outcomes, according to the announcement.
LPL Snags Schott Financial Management
Financial Adviser Steve Schott joined LPL Financial LLC’s broker/dealer and registered investment advisor platform from Cambridge Investment Research Advisors. As of year-end 2025, Schott serviced approximately $240 million in advisory, brokerage and retirement plan assets.
Based in Prescott, Arizona, Schott is the owner and CEO of Schott Financial Management.
Schott Financial Management specializes in working with retirees and clients approaching retirement.
LPL Financial Holdings Inc. supports more than 32,000 financial advisers and the wealth management practices of approximately 1,100 financial institutions, representing approximately $2.3 trillion in brokerage and advisory assets.
Focus Partners Buys EverNest Financial Advisors
Focus Partners Wealth LLC, a subsidiary of Focus Financial Partners Inc., will acquire wealth management firm EverNest Financial Advisors LLC in a transaction expected to close in the year’s third quarter.
EverNest had approximately $960 million in assets under management as of December 31, 2025. Founded in 2022 and based in Carmel, Indiana, EverNest provides comprehensive financial planning and investment services to individuals, families, foundations and endowments.
Focus’ integrated wealth management, family office and business management services had a total of more than $500 billion in advised assets as of January 1.
