TRPG Boosts Michigan Footprint with $300M First Financial Acquisition

The Retirement Planning Group (TRPG), a Cetera-affiliated RIA, has closed a strategically significant acquisition of First Financial Advisors, Inc. and A.G. Tidswell, CPA, P.C. The deal not only bolsters TRPG’s assets under management but also adds tax-planning depth and extends its advisory reach into the Michigan market.

Deal Summary

• Buyer: TRPG, Cetera Financial Group’s employee-based RIA.
• Target: First Financial Advisors, Inc., plus A.G. Tidswell, CPA, P.C., both based in Muskegon, Michigan.
• Assets Added: The acquisition brings more than $300 million in assets to TRPG.
• Client Base: First Financial serves approximately 675 households, including high-net-worth clients, under a joint wealth and tax advisory model.
• Personnel: Three senior First Financial advisors - Anthony Tidswell, Eric Lans, and James Mikesell - will transition to TRPG.
• Strategic Rationale: The acquisition aligns with TRPG’s value-driven, client-first, and planning-focused advisory model, while reinforcing succession planning for First Financial’s leadership.
• Growth Momentum: The deal continues TRPG’s recent inorganic growth; in Q1 2025, TRPG closed three additional acquisitions totaling ~$180 million in assets.

Industry Context

This transaction reflects the ongoing consolidation trend among RIAs where firms with complementary strengths are uniting to deliver more holistic client solutions. In particular, TRPG’s acquisition of a dual wealth-management and tax-planning firm underscores a broader industry shift: clients increasingly expect integrated advice, combining financial planning, tax strategy, and investment management under one roof.

Additionally, TRPG’s continued acquisitions show how employee-led RIAs backed by a larger platform (like Cetera) can scale efficiently. By adding regional firms with deep client relationships and multi-disciplinary expertise, TRPG is executing a growth strategy that combines national reach with personalized, high-touch advice.

Lower-Middle-Market Roll-Up Perspective

From a roll-up strategy standpoint, the TRPG–First Financial deal exhibits several core elements of successful platform building:

1. Capability Augmentation: TRPG is not merely acquiring assets, but adding a firm with tax planning and CPA services - increasing the breadth of its advisory capabilities.
2. Leadership Continuity: By bringing the First Financial team intact, TRPG secures continuity of client relationships and leverages the experience of established advisors.
3. Geographic Expansion: The acquisition gives TRPG a stronger presence in Michigan, a market it had limited exposure to previously.
4. Succession and Scale Synergies: The move strengthens First Financial’s succession planning by aligning with a growing, resource-rich RIA platform.
5. Platform M&A in Motion: The deal builds on TRPG’s earlier acquisitions, reinforcing its aggressive inorganic growth strategy under Cetera’s umbrella.

Why This Sector Is Attractive for Roll-Ups

• Integrated Advisory Demand: As clients become more complex, RIAs that can offer both investment and tax planning win more business.
• Recurring, High-Value Revenue: Planning and tax services generate deep, recurring client relationships, which are valuable for scaling advisory firms.
• Succession Vehicle: For founders, aligning with a larger, employee-based RIA can provide stability and continuity while preserving client service culture.
• Platform Leverage: Backing from Cetera gives TRPG the capital, infrastructure, and scale to rapidly execute acquisitions.
• Competitive Differentiation: Offering dual wealth and tax advice helps TRPG stand out among advisory peers.

Conclusion

TRPG’s acquisition of First Financial Advisors marks a meaningful expansion in both scale and service capability. By adding over $300 million in assets and incorporating a team with wealth and tax planning experience, TRPG strengthens its position as a comprehensive, planning-first advisory firm.

For independent advisors, this transaction underscores the value of partnering with a firm that respects legacy while providing the infrastructure and resources to scale. For investors, it validates a roll-up playbook centered on acquiring advisory practices that offer integrated financial planning and tax expertise - a model that aligns with evolving client expectations in wealth management.