LWA adds $2 billion in assets, expands Wealthspire’s Northeast, West Coast, and Midwest market share
New York, January 24, 2022 – Wealthspire Advisors, in partnership with parent company NFP, announced the integration of Lenox Wealth Advisors (LWA) into Wealthspire’s national independent investment advisory platform. LWA is also a subsidiary of NFP.
“By combining firms under the NFP umbrella, LWA and Wealthspire create significant advantages that benefit both our clients and our people,” said Wealthspire CEO Mike LaMena. “Size and scale are important. Coming together allows us to invest in the technology and talent we need and expand the capabilities and services we deliver.”
This integration comes on the heels of Wealthspire’s recent agreements to acquire Private Ocean Wealth Management, a $2.7 billion RIA based in San Rafael, California and Private Capital Group, a $1 billion RIA based in West Hartford, Connecticut. After these transactions are complete, Wealthspire expects to be overseeing assets of approximately $20 billion and have 20 offices across the country.
Founded in 2011, LWA has been part of NFP since its inception. LWA is known for developing and executing sophisticated financial plans and building custom investment portfolios for individuals, families, trusts, and nonprofit organizations.
Said Richard Van Benschoten, CEO of Lenox Wealth Advisors, “It is important for our clients to know that the goal is providing more choices, offering a deeper investment team, and continuing to improve processes and technology. We remain part of the same NFP family, but now as a larger team with more offices across the country and a combined $16.45 billion of assets under management.”
About Wealthspire Advisors
Wealthspire Advisors is an independent registered investment advisor with 17 offices in 10 states throughout the Northeast, Mid-Atlantic, Midwest, and West Coast. We are fiduciary advisors who value connecting all parts of a client’s financial life to deliver thoughtful, collaborative strategies that optimize their finances and fulfill their aspirations. Wealthspire Advisors acts as a wealth manager, investment advisor, consultant, and constant partner in helping clients gain confidence in their financial futures. For more information on Wealthspire Advisors, please visit www.wealthspire.com.
NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 6,600 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest benefits broker by global revenue, 7th largest US-based privately owned broker, 9th best place to work in insurance and 13th largest broker of U.S. business (Business Insurance); 10th largest commercial lines agency by P&C commercial lines revenue and 10th largest property and casualty agency (Insurance Journal); and 13th largest global insurance broker (Best’s Review).
Visit NFP.com to discover how NFP empowers clients to meet their goals.