Sammons Financial Group to Acquire $8B Wealthcare from NewSpring Holdings 

Sammons Financial Group has entered into a definitive agreement to acquire Wealthcare Capital Management, a tech-enabled registered investment advisor overseeing $8 billion in assets under management, from NewSpring Holdings. The transaction, slated to close in the third quarter of 2025, underscores Sammons’ strategic push into the independent financial advisor channel, following its previous acquisitions of Beacon Capital Management ($3.2 billion AUM) in 2021 and NorthRock Partners. 

Richmond, Virginia-based Wealthcare supports nearly 200 independent advisors serving over 12,000 clients nationwide. “This partnership provides the capital to accelerate our growth strategy as a premier destination for financial advisors, while also enabling Sammons to broaden its footprint in the wealth management space,” said Matt Regan, President and CEO of Wealthcare. 

NewSpring Holdings originally acquired Wealthcare in 2013, when the firm had just $800 million in AUM. Over the past decade, it has significantly scaled operations, growing tenfold under NewSpring’s ownership. 

Financial terms of the deal were not disclosed. Sammons was advised by Berkshire Global Advisors and Gibson, Dunn & Crutcher LLP, while Wealthcare and NewSpring were advised by Republic Capital Group and Blank Rome LLP.