Morgan Stanley Acquires EquityZen, Industry Veterans Unveil HSA Gamified Loyalty Program
Morgan Stanley Acquires EquityZen
Morgan Stanley is acquiring private shares platform, EquityZen.
The firm says that EquityZen’s issuer-aligned model will support its efforts to deepen relationships with private companies. It will also expand access to additional liquidity options and private shares for Morgan Stanley’s Wealth clients, the firm added.
“The combination of EquityZen with Morgan Stanley will uniquely address client needs as companies stay private longer, such as delivering liquidity solutions for their employees and early investors in a seamless yet controlled process of their own design,” said Jed Finn, head of Morgan Stanley Wealth Management. “With EquityZen, we combine our cap table management solutions with a private shares marketplace to deliver end-to-end solutions to our private market company clients.”
EquityZen has over 800,000 registered users and has processed over 49,000 transactions across more than 450 private companies since inception.
“Our entire mission has been to bring ‘private markets to the public,’ and by integrating into Morgan Stanley, we will reach more investors and shareholders than ever before,” said Atish Davda, CEO of EquityZen. “When our category-leading technology and welcoming marketplace is matched with Morgan Stanley’s comprehensive suite of products, services and offerings focused on the private markets, we can create a value proposition together for issuers, shareholders and investors that is unrivaled in our space.”
The transaction is subject to customary closing conditions, including obtaining applicable regulatory approvals, and is expected to close in early 2026. EquityZen is headquartered in New York with a team of approximately 50 professionals.
Next Article: Industry Veterans Unveil HSA Gamified Loyalty Program
Industry Veterans Unveil HSA Gamified Loyalty Program
MaxHSA, a digital platform created to help consumers maximize their HSA contributions without reducing take-home pay, has officially launched this week.
Founded by industry veterans Sanders McConnell and Bill Stuart and launching under parent company Benegames, Inc., MaxHSA is a gamified loyalty program aimed at using HSAs for both health and retirement planning.
“MaxHSA was born from a simple idea,” said Stuart, MaxHSA co-founder. “We conducted extensive market research. Participants told us that they want to increase their HSA contributions without reducing their paychecks. We provide them with three new streams of income to fund their HSAs.”
With MaxHSA, consumers can earn funds through a gamified rewards system, including Roundups, Cashback Rewards, and Referral Rewards that will be contributed to their HSA. Members can round up everyday purchases like coffee, gas, and groceries, while additional savings come from shopping with participating merchants or referring new members to the platform.
“We’ve seen firsthand how HSAs can transform long-term financial wellbeing,” said McConnell, MaxHSA co-founder and CEO. “MaxHSA gives people the knowledge and opportunity they need to fully unlock that potential.”
Next Article: Strongpoint Partners Announces Partnership with SMS Retirement
Strongpoint Partners Announces Partnership with SMS Retirement
Strongpoint Partners is partnering with SMS Retirement, based in Cincinnati, Ohio.
“Mark [Strakowski, principal of SMS] and Jeremy [Schira, principal of SMS] have built a strong footprint by supporting clients across the country with customized plan design, administration, and compliance services, and the entire SMS team will be a fantastic fit with our group of Partners,” said Danny Hest, CEO of Strongpoint Partners. “Together, we will continue helping employers and advisors navigate the complexities of retirement planning with confidence.”
“Our priority has always been providing personal, responsive service and accurate, impactful plan designs to our clients,” said Strakowski, who will continue to lead SMS along with Schira. “Joining Strongpoint will allow us to continue that commitment while also giving our clients access to enhanced solutions and national expertise. We’re thrilled about this next chapter for SMS.”
Schira agrees. “This partnership unlocks new ways for SMS to scale and expand on what we do best: helping our clients secure their retirement futures.”
As part of the transaction, the SMS team will continue in their roles.
Next Article: Wealth Managers Merge with Osaic
Wealth Managers Merge with Osaic
Osaic this week announced two partnerships with independent wealth management firms.
Gallagher Financial Services, a St. Paul, MN-based firm with $194 million in client assets, is moving to Osaic following its prior transition to LPL Financial.
“After careful consideration, we decided to move to Osaic,” said Mark Gallagher, who leads the team at Gallagher. “Osaic offers the right mix of local support, a clearing relationship with National Financial Services (NFS) to ensure a smooth transition, competitive advisory solutions, and a technology stack to support our clients today and well into the future.”
“Gallagher Financial brings incredible energy and expertise to the Osaic community, and we’re honored to support their continued journey,” said Kristen Kimmell, executive vice president of business development at Osaic. “With access to Osaic’s advanced technology platform, we look forward to helping them enhance productivity, increase efficiency, and devote more time to their clients and business growth.”
Four Pillars Investment Management is also joining Osaic’s network of independent advisors. The Cape Coral, FL-based firm brings approximately $143 million in client assets and is led by Investment Advisor John T. Evans. Its team include Client Service Associate Pamela Evans and Operations Support Specialist Jennifer Moss.
“Our mission is to help clients protect and grow their wealth with confidence and Osaic’s breadth of products, advanced technology and strong compliance support will allow us to expand how we serve clients,” Evans said. “After meeting with multiple firms, Osaic stood out as being most aligned with our ethos. We are thrilled to move forward while staying grounded in the values that define Four Pillars.”
Four Pillars delivers personalized guidance to individuals, families, and small businesses across Southwest Florida.
“It’s a privilege to work alongside a firm that shares our commitment to client service. With our partnership, Four Pillars will have the flexibility to grow while staying true to who they are. Together, we’re expanding what’s possible and enhancing lives and legacies,” said Kimmell.
Next Article: Behrle | Bergin Joins Prospera
Behrle | Bergin Joins Prospera
Prospera Financial Services, Inc announced that Behrle | Bergin of Irvine, California, has joined its platform.
Steven Behrle and Joe Bergin, managing directors of the firm, bring more than 80 years of collective wealth management experience to their practice. Together, they deliver financial planning and wealth management services to high-net-worth individuals and corporate retirement plan sponsors and trustees, with a specific focus on fixed income and bond strategy.
The firm currently holds $200 million in assets under management (AUM).
“As we considered what we needed to continue to serve our clients, we felt that the size and strategy of Prospera positioned our firm for success,” said Behrle. “We have access to incredible resources and solutions akin or better than those available at wirehouses and banks, with the personalized service of a smaller firm.”
“We wanted to be treated in the same way as we treat our clients, with care and personalized consideration,” Bergin added. “The consolidation in this industry has stripped away much of the culture that is critical to building a successful advisory firm, and we are pleased to see that Prospera values this service culture as much as we do.”
Tarah Williams, president and chief operating officer of Prospera, added, “Steven and Joe are exactly the kind of advisors for whom we built this platform. They have dedicated their lives to delivering meaningful, personal service to their diverse client base and need a partner who can help them continue to provide this type of hands-on wealth management in the years to come. We are honored they chose to join Prospera and look forward to working together.”
Next Article: AssetMark Buys FSG-Owned Efficient Advisors
AssetMark Buys FSG-Owned Efficient Advisors
AssetMark Financial Holdings is acquiring Efficient Advisors, LLC, an asset management platform with $3 billion in client assets, from its current owners, Fiduciary Services Group (FSG).
“AssetMark’s growth strategy is grounded in a disciplined approach to expansion – one that combines institutional insight with a clear vision for the future of independent advice,” said Lou Maiuri, AssetMark chairman and group CEO. “The acquisition of Efficient Advisors reflects our commitment to thoughtful, inorganic growth that strengthens our position within the RIA space. By bringing Efficient Advisor’s evidence-based investment platform into our ecosystem, we’re enhancing the breadth of solutions available to advisors and reinforcing our mission to help advisors grow their businesses and deliver enduring value to clients.”
“Joining AssetMark marks an exciting new chapter for Efficient Advisors,” said Steve Miller, Efficient Advisors CEO. “Our shared commitment to advisor-centric service makes this a natural fit. We’re proud of the platform we’ve built and the relationships we’ve nurtured over the years, and we look forward to amplifying our impact through AssetMark’s expansive network.”
Efficient Advisors is currently owned by FSG, the parent company of PCS Retirement, a service provider within the AssetMark Retirement Services.
The transaction is AssetMark’s eighth announced acquisition since 2014, and most recently follows its strategic alliance with Morningstar Wealth and acquisition of the Morningstar Wealth Turnkey Asset Management Platform.
The transaction is expected to close in the fourth quarter of 2025, subject to regulatory approvals, necessary consents, and other customary closing conditions.
PricewaterhouseCoopers International Limited served as financial advisor and Kirkland & Ellis served as legal counsel to AssetMark. DLA Piper served as legal counsel to Fiduciary Services Group.