Deals & Moves: Lido Buys LA-Area RIA, Vestwell to Add 30K Gusto 401(k) Plans

M&A Activity in Financial Advisory Industry - Wealth Enhancement acquired a registered investment advisor managing $2.2 billion in assets [2] - Dynasty Financial Partners' firm Procyon acquired a $500 million RIA in Michigan and Texas [2] - Earned, a healthcare-focused practice, acquired an Ohio RIA managing $900 million [2] Lido Advisors Acquisition - Lido Advisors acquired Stuart Chaussée & Associates, a family-run wealth management firm in California managing over $500 million [3] - Lido Advisors has grown to $38 billion in assets under management [3] - The firm is owned by employees and investors including Charlesbank Capital Partners, HPS Investment Partners, and Constellation Wealth Capital [4] Vestwell Acquisition - Vestwell agreed to acquire Accrue 401k, adding about 30,000 retirement plans and 350,000 plan participants to its platform [5] - The acquisition enhances Vestwell's ability to sync plans with partners across payroll and financial services [5][7] - Vestwell will serve as the retirement plan platform for Accrue 401(k) clients using non-Gusto payroll providers [7]