Clearstead Strengthens Its Position in Wealth Management with New Philadelphia Team Acquisition

Clearstead's Strategic Growth in Philadelphia

On July 1, 2026, Clearstead Advisors, LLC, a prominent registered investment advisory firm, made headlines by announcing its latest acquisition of a skilled wealth management team based in Philadelphia. This team, previously affiliated with myCIO Wealth Partners, LLC, brings with it a wealth of experience and approximately $2.6 billion in regulatory assets under management alongside nearly $2.7 billion in additional assets offering enhanced advisory services as of the end of March 2026.

The recent acquisition is a strategic move aimed at expanding Clearstead's footprint in one of the country’s most vital wealth management markets. By doing so, Clearstead aims to bolster its services in high-net-worth wealth management, retirement plan consulting, and tax capabilities. The acquisition aligns with the firm’s goal of ensuring customized, high-quality financial advisory for its clients.

The newly integrated team is composed of nine dedicated professionals and is spearheaded by seasoned advisor Paul Bracaglia, alongside senior advisors Phil Bonelli, Michael Finelli, Bruce Fenster, and Jackson Davey. This group has extensive experience in serving high-net-worth individuals, families, and institutional retirement plans. With their transition into Clearstead, all five senior advisors will become partners in the firm, solidifying their commitment to delivering exemplary financial advice and service.

Brad Knapp, CEO of Clearstead, expressed his enthusiasm about the addition of this accomplished team: “Their inclusion is a testament to our disciplined growth approach and enhances our presence in Philadelphia, further solidifying our status as a recognized RIA at a national scale.” This takeover indicates Clearstead's relentless pursuit of growth, especially after receiving a majority equity investment from Flexpoint Ford in 2022, allowing them to emphasize both organic and inorganic growth strategies.

Bracaglia shared insights on the merger, stating, “Joining Clearstead is mutually beneficial for our organizations. It permits us to integrate into a national platform enriched with resources, enabling us to maintain our client-focused service ethic that has shaped our success over the years.”

This move follows a series of similar initiatives, wherein Clearstead has strategically expanded its operations through various acquisitions, including teams from The Clarius Group in Seattle and Waveland Family Office in Chicago, as well as other advisory groups across the United States. This expansion approach not only reinforces Clearstead's national presence but also allows them to offer a more comprehensive suite of services in wealth management, tax planning, and investment strategy to a broader range of clientele.

As of June 30, 2026, Clearstead now advises approximately $68 billion in total client assets, which includes about $37 billion under management. The firm has grown to employ over 325 professionals across 14 offices nationwide, emphasizing its commitment to delivering exceptional advisory services and personalized solutions to individuals and institutions alike.

In conclusion, Clearstead's acquisition of the Philadelphia-based wealth management team marks a significant stride in its expansion strategy, set against the backdrop of an evolving financial advisory landscape. With this strategic integration, Clearstead is well-positioned to provide high-caliber wealth advisory services while continuing to foster a culture centered around client success and satisfaction.

About Clearstead Advisors, LLC

Founded in 1989 and headquartered in Cleveland, Clearstead operates as a financial advisory firm, guiding approximately $68 billion in assets for private clients and institutional entities. With an integrated approach combining financial planning, tax services, and rigorous investment management, Clearstead stands out as a trusted partner for diverse clientele. Their services also extend to over 290 institutional clients, reinforcing their broad expertise in the financial advisory sphere.

For more information on Clearstead, visit www.clearstead.com.