Soltis Investment Advisors, a St. George, Utah-based registered investment advisor with over $10 billion in client assets, is looking to ramp up its acquisition efforts by hiring Jeffrey Harris away from acquisitive RIA Carson Group.
Harris, who has done M&A work with Carson for about eight years, will take a new position as Soltis’ head of M&A and partnerships, leading efforts to find, evaluate and integrate RIAs and advisory adjacent businesses.
CEO Kim Anderson said via email that the idea for the position came about after Soltis agreed in June 2024 to a capital infusion from Estancia Capital Partners and LLR Partners.
“The desire to thoughtfully build an inorganic growth plan included hiring a Head of M&A and Partnerships,” Anderson said.
Harris left a role as associate vice president of M&A for Carson Group, an active acquirer with more than $41 billion in AUM and a large partner RIA network.
Anderson said Soltis was impressed with Harris’ work at Carson and that his “skillset of building trust and creating alignment with RIA firms made him a natural fit to lead our partnership-first M&A initiative.”
The CEO said Soltis is focused on “thoughtful, compatible” inorganic growth, adding that “Jeff understands the difference and maintains a high-quality, strong-fit perspective.”
Soltis is a wealth manager for individuals and families and a retirement plan advisor for employers and institutions. It was founded in 1993 by Lon Henderson and Hyrum Smith as Smith Henderson and Associates.
Anderson said the firm’s M&A strategy will be based on five years of strong organic growth.
“We recognize that for inorganic growth to be effective, a firm must first demonstrate strong organic growth,” he said. “With this momentum, we’re pursuing strategic acquisitions to expand our services, diversify our offerings, and strategically grow our geographic presence, all while maintaining our independence and without compromising ongoing business efforts.”
The CEO said Soltis will seek out RIAs with complementary client bases, strong client retention and growth potential.
The firm has clients in every state, with high concentrations in the Midwest, Mid-Atlantic and Southwest regions.