{"id":740472,"date":"2026-07-03T07:52:33","date_gmt":"2026-07-03T07:52:33","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/740472\/"},"modified":"2026-07-03T07:52:33","modified_gmt":"2026-07-03T07:52:33","slug":"clearstead-acquires-2-6b-team-from-mycio-wealth","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/740472\/","title":{"rendered":"Clearstead Acquires $2.6B Team From myCIO Wealth"},"content":{"rendered":"<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Clearstead Advisors, a Cleveland-based registered investment advisor with $68 billion in client assets, has acquired a nine-person Philadelphia-based team from RIA myCIO Wealth Partners. The team manages about $2.6 billion in assets and advises on $2.7 billion in institutional funds.<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">The move closed on June 30. The team is led by Senior Partner Paul Bracaglia and senior advisors Phil Bonelli, Michael Finelli, Bruce Fenster and Jackson Davey. The five of them will become Clearstead partners.<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">\u201cWe share a planning-led approach to wealth management,\u201d Bracaglia said of Clearstead. \u201cIt allows us to join a national organization with substantial resources and capabilities, while continuing to build on the client-centric culture that has defined and shaped our team\u2019s success.\u201d<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Clearstead sealed the deal a few months<a class=\"ContentText-BodyTextChunk ContentText-BodyTextChunk_link\" href=\"https:\/\/www.wealthmanagement.com\/career-moves\/people-moves-62b-ria-clearstead-hires-m-a-head\" target=\"_self\" data-discover=\"true\" rel=\"nofollow noopener\">\u00a0after hiring Shuan McCracke<\/a>n to a new role as managing director of M&amp;A. McCracken joined from insurance brokerage Acrisure, where he was director of mergers and acquisitions.\u00a0<\/p>\n<p data-component=\"related-article\" class=\"RelatedArticle\">Related:<a class=\"RelatedArticle-RelatedContent\" href=\"https:\/\/www.wealthmanagement.com\/ria-news\/edelman-financial-engines-appeals-mariner-lawsuit\" target=\"_self\" data-discover=\"true\" rel=\"nofollow noopener\">Edelman Financial Engines To Appeal Decision in Mariner Lawsuit<\/a><\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Clearstead is led by CEO Brad Knapp and has been owned by Chicago-based private equity firm Flexpoint Ford since 2022. Following the firm&#8217;s latest transaction, Clearstead\u2019s asset count will grow to about $68 billion, including $37 billion under management.<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">The deal marks its <a class=\"ContentText-BodyTextChunk ContentText-BodyTextChunk_link\" href=\"https:\/\/www.wealthmanagement.com\/ria-news\/clearstead-acquires-5-1b-seattle-based-family-office-ria\" target=\"_self\" data-discover=\"true\" rel=\"nofollow noopener\">second plus-$5 billion move this year<\/a>, following its acquisition in February of a multi-family office in Seattle that had overseen about $5.1 billion in assets.<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Colchester Partners was the financial advisor to myCIO Wealth Partners in the deal. That firm provides consulting services for individuals, families, endowments, and defined contribution and benefit plans. It serves as the chief investment officer for many of its clients, with specialized expertise in alternative investments and fiduciary liability. It was formerly Ernst &amp; Young\u2019s Philadelphia Investment Advisory Practice.<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Senior Partner David Lees and partner and CFO Adrian Verueco will continue leading the firm.\u00a0<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">\u201cWe wish the departing business success in their new partnership with Clearstead,\u201d Lees said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"Clearstead Advisors, a Cleveland-based registered investment advisor with $68 billion in client assets, has acquired a nine-person Philadelphia-based&hellip;\n","protected":false},"author":2,"featured_media":740473,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[28,147,530],"class_list":["post-740472","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/740472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=740472"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/740472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/740473"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=740472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=740472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=740472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}