Four Raymond James practices move more than $1B to Ascentis, keep Raymond James custody

Four advisory practices are moving from Raymond James Financial Services to Ascentis Independent Advisors with more than $1 billion in client assets, the Dallas RIA platform announced. The practices have worked as a single Raymond James branch since 2022 and will keep Raymond James as their primary custodian, according to the announcement.

Capital Waypoint, Citrus Wealth Management, IMPACT Financial Strategies and Rooted Wealth Management will continue to operate from offices in California and Colorado under their own brands, according to WealthManagement.com's report.

"Experienced advisors want the freedom to run their practices and the support to keep improving what they can deliver for clients," Ascentis Holdings CEO Michael Mansur said in a statement. Raymond James hired a Schwab custody veteran for a client-experience role in September, per this publication's reporting.

Ascentis Wealth Holdings formed Ascentis Independent Advisors at the start of 2026 out of an RIA formerly known as Golden State Equity Partners, and John Nahas leads it. The holding company also runs Ascentis Asset Management and Ascentis Wealth Management, which reported more than $500 million in AUM in its most recent Form ADV. Before the four practices joined, the independent platform had about $2.6 billion in AUM, a spokesperson told WealthManagement.com.

The four disclosed client-asset figures add up to about $1.06 billion, roughly 41% of the $2.6 billion AUM the platform reported beforehand. The announcement does not disclose recruitment payments, equity or other transition terms.