myCIO Sells $2.6 Billion Advisory Team to Clearstead to Sharpen Core Growth
Updated
Updated · Pulse 2.0 · Jul 2
myCIO Sells $2.6 Billion Advisory Team to Clearstead to Sharpen Core Growth
3 articles · Updated · Pulse 2.0 · Jul 2
Summary
myCIO said the sale of an advisory team managing about $2.6 billion in regulatory assets to Clearstead Advisors closed on June 30, with terms undisclosed.
David Lees said the departing team was not a strategic fit, and CFO Adrian Verueco said the transaction lets myCIO redirect resources to its core business and future growth plans.
myCIO oversaw roughly $15.8 billion in regulatory assets at the end of 2025, making the divested team a meaningful slice of one of Philadelphia's largest independent RIAs.
Clearstead, a Cleveland-based RIA majority-owned by Flexpoint Ford, is using the deal to deepen its Philadelphia presence after adding a nine-person team led by Paul Bracaglia.