Raymond James has announced its acquisition of Clark Capital Management, which manages over $46 billion in assets, in a deal expected to close in the third quarter of 2026, aimed at enhancing its investment management capabilities through the integration of Clark's team and advisors.

Information on the target

In the first quarter of 2026, the independent wealth management sector has witnessed a remarkable surge in mergers and acquisitions (M&A) activity, with over $100 billion in client assets changing hands. This trend is exemplified by the acquisition of Clark Capital Management by Raymond James, which oversees more than $46 billion in assets. This transaction is expected to close in the third quarter of 2026 and will enhance Raymond James Investment Management's capabilities by integrating over 150 team members and approximately 50 advisors, who will continue to operate under their existing brand as a boutique firm.

Another significant transaction involves Janus Henderson Group's acquisition of Richard Bernstein Advisors, a hybrid wealth management firm managing around $20 billion in assets. This deal, anticipated to close in the second quarter of 2026, will see Richard Bernstein join Janus Henderson as Global Head of Macro & Customized Investing, further strengthening the firm's investment management expertise.

Industry overview in the target’s specific country

The independent wealth management industry in the United States has been experiencing unprecedented consolidation, driven by a combination of structural shifts and the increasing demand for sophisticated financial services. According to industry experts, including DeVoe & Co. and