Wealthspire Plans $580B Mega-RIA Formation After Madison Dearborn Integration

Wealthspire, a New York-based registered investment advisor (RIA), has merged with Fiducient Advisors, Newport Private Wealth, Wealthspire Retirement Advisory, and Ground Control to form a $580 billion mega-RIA under new ownership by private equity firm Madison Dearborn Partners. The consolidation aims to unify these firms under the Wealthspire brand, enhancing its market presence and allowing the company to step out of its former insurance parent company's shadow, thereby highlighting its comprehensive wealth and institutional advisory capabilities. CEO Michael LaMena emphasized the strategic move as a transition from aggregation to true platform integration, aligning with a trend among private equity-backed RIAs to create stronger enterprise-level synergies and shared infrastructure. This integration positions Wealthspire to compete with industry leaders such as Creative Planning, Focus Financial Partners, and Hightower, signaling a maturing RIA industry where scale and branding are critical. Madison Dearborn's reacquisition and integration efforts reflect its long-term investment conviction, dating back to its original acquisition of NFP, and underscore a deliberate strategy to solidify Wealthspire’s role in wealth management, retirement, and family office services. Overall, the move represents a significant reshaping of the wealth management landscape with a focus on unified branding, employee equity participation, and operational efficiency.