Acquisition adds $1.0 billion in assets, expands presence in the Northeast
New York, October 5, 2021 – Wealthspire Advisors, an NFP company and independent investment adviser, today announced the signing of a definitive agreement to acquire Private Capital Group, LLC, a leading wealth management firm based in West Hartford, CT, offering comprehensive wealth management and retirement planning services.
“Private Capital Group has a talented team providing clients with comprehensive financial planning, robust wealth management solutions, and passionate client service,” said Wealthspire CEO Mike LaMena. “They are a natural cultural fit, and I am confident that combining their accomplished group with Wealthspire’s deep investment platform, sophisticated technology, and middle/back-office support structure will enhance value for Private Capital Group’s clients. We are excited to expand our presence in Connecticut while continuing to look for opportunities to grow our wealth management platform with top quality firms throughout the United States.”
Wealthspire Advisors currently oversees approximately $13.5 billion in assets under management and has 14 offices across the country.
Founded in 2003, Private Capital Group currently manages assets totaling approximately $1.0 billion. The transaction is expected to close in the fourth quarter of 2021, subject to customary approvals and closing conditions.
“Being part of Wealthspire will bring additional value to our clients and expand opportunities for our dedicated associates,” said Ben Kille, Founder and Managing Member of Private Capital Group. “Private Capital Group was founded with a ‘Serve First’ philosophy, so we are looking forward to fully integrating with Wealthspire and becoming part of a dynamic firm that shares our passion for client service and deep fiduciary commitment.”
Private Capital Group was represented by DeVoe & Company, a leading investment bank and consultant to RIAs.
About Wealthspire Advisors
Wealthspire Advisors is an independent registered investment advisor with 14 offices in 8 states throughout the Northeast, Mid-Atlantic, and Midwest. 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 6,000 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, 6th largest US-based privately owned broker, and 9th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 13th largest global insurance broker (Best’s Review).
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