AlphaCore Adds New Jersey Firm with $700M in AUM

AlphaCore Wealth Advisory has acquired an eight-person wealth management practice, which oversees roughly $700 million in client assets, expanding the firm’s presence in the Northeast market. 

Summit, NJ-based Brave Family Advisors, founded in 1992 and led by founder Brett Haire and president Scott Morrison, offers wealth planning, investment management, tax, and family office services to high-net-worth and ultra-high-net-worth clients. 

Brave Family Advisors’ team includes four advisors and an additional office in Tiverton, Rhode Island. 

As part of the acquisition, Brave Family Advisors will gain access to AlphaCore’s in-house tax strategies, trust and estate planning, philanthropic planning, and investment research team. 

“Our team has always focused on building strong relationships and helping families navigate the opportunities and challenges that come with wealth,” Morrison and Haire said. “AlphaCore’s commitment to clients, collaborative culture, and deep bench of resources made it the right fit for our team and the families we serve.” 

The transaction closed on July 31, a company spokesperson confirmed to Connect Money. 

AlphaCore’s addition is the firm’s second transaction for the year, following its acquisition of Denver-based Elk River Wealth Management, which oversees about $1 billion in assets under management. 

La Jolla, CA-based AlphaCore Wealth Advisory manages about $10 billion in total client assets and is majority-owned by CEO Dick Pfister. In 2023, the firm sold a minority stake to Constellation Wealth Capital.