Sammons Financial Acquires Wealthcare for $8B
- Sammons Financial Group is set to acquire Wealthcare Capital Management from NewSpring Holdings, marking a meaningful expansion in the wealth management sector.The deal, expected to finalize in the...
- This acquisition underscores Sammons' strategic focus on the independent financial advisor channel.
- Wealthcare,based in Richmond,Va., supports almost 200 independent advisors serving over 12,000 clients across the nation.
Sammons Financial Group is poised to substantially bolster its wealth management arm with the acquisition of Wealthcare Capital Management. This strategic move, slated to close in Q3 2025, will fold Wealthcare’s $8 billion in assets under management into the Sammons portfolio, marking a key expansion in the financial sector. The deal reflects Sammons’ commitment to the autonomous financial advisor channel, building on prior acquisitions like Beacon Capital Management. Wealthcare, with its network of nearly 200 independent advisors, provides services to over 12,000 clients. News Directory 3 will continue to observe the market closely. Discover what’s next for Sammons and its expanded wealth management capabilities.
Sammons Financial Group Expands Wealth Management with Wealthcare Acquisition
Updated June 09, 2025
Sammons Financial Group is set to acquire Wealthcare Capital Management from NewSpring Holdings, marking a meaningful expansion in the wealth management sector.The deal, expected to finalize in the third quarter of 2025, will add Wealthcare’s $8 billion in assets under management (AUM) to sammons’ portfolio.
This acquisition underscores Sammons’ strategic focus on the independent financial advisor channel. Previously, Sammons acquired Beacon Capital Management ($3.2 billion AUM) in 2021 and NorthRock Partners, further solidifying its presence in wealth management.
Wealthcare,based in Richmond,Va., supports almost 200 independent advisors serving over 12,000 clients across the nation.
Matt Regan, president and CEO of Wealthcare, said the partnership will provide capital to accelerate growth and establish Wealthcare as a premier destination for financial advisors. He added that it will also enable Sammons to broaden its footprint in the wealth management space.
NewSpring Holdings initially acquired Wealthcare in 2013, when the firm managed $800 million in assets. Under NewSpringS ownership, Wealthcare experienced substantial growth, increasing its AUM tenfold over the past decade.
The financial terms of the agreement were not disclosed. Berkshire Global Advisors and Gibson, Dunn & Crutcher LLP advised Sammons, while Republic Capital Group and Blank Rome LLP advised Wealthcare and NewSpring.
What’s next
Following the acquisition, Sammons Financial Group is expected to integrate Wealthcare’s technology and advisor network to further enhance its wealth management offerings and expand its reach in the independent financial advisor market.