Three Focus Financial Firms Merge to Create $10B RIA
Three prominent wealth management firms within the Focus Financial Partners network have completed a strategic merger, creating a unified registered investment advisory (RIA) firm with more than $10 billion in assets under management.
Coastal Bridge Advisors, Waddell & Associates, and One Charles Private Wealth have consolidated their operations under the Coastal Bridge Advisors name. The transaction significantly expands the firm’s geographic footprint across seven states, bringing together approximately 20 partners and 52 professionals serving clients from offices in Massachusetts, Connecticut, North Carolina, Tennessee, Florida, and California. Total assets under management were measured as of June 30, 2026.
The corporate combination marks the retirement of the One Charles Private Wealth and Waddell & Associates brands, concluding the latter’s 40-year history in the wealth management industry.
David Waddell, formerly chief executive officer of Waddell & Associates, will assume the roles of chairman and chief investment strategist at the expanded Coastal Bridge Advisors. He joins founder and co-chairman Kevin G. Burns, CEO Jim Betzig, President Mark Dupont, and Chief Revenue Officer Bill Loftus in leading the unified organization.
“We were never interested in growth for its own sake,” Waddell said. “What makes this opportunity different is that it allows us to preserve the values and personal service our clients expect, while adding broader planning intelligence, deeper investment capabilities and enhanced technology.”
Additional leadership appointments include One Charles founding partners Paul Squarcia and Erik Wallin, who join as managing partners of the Florida and Massachusetts offices, respectively. Former Waddell executives Perry Green and Sean Gould will step into roles as chief planning officer and managing partner for the Tennessee region.
The larger organization expects to leverage its scale to compete more effectively in a rapidly consolidating independent wealth marketplace. According to President Mark Dupont, the combination creates an institutional platform of specialized talent that would be highly difficult to assemble organically in today’s competitive environment.
