Wealthspire Advisors, an NFP company, has signed a definitive agreement for the acquisition of StratWealth, a registered investment advisor managing $1.5 billion in client assets, according to a news release. 

The companies did not disclose financial details of the transaction, which is expected to close in the fourth quarter of 2020.

This is Wealthspire’s first acquisition of an RIA under its new name, but not the first for its predecessor firm (as Bronfman Rothschild, the firm acquired such firms as Lake Country Wealth Management and Highline Wealth Management in 2015, and TriCapital Advisors in 2017). Last year, NFP Corp. (National Financial Partners Corp.), a national insurance brokerage and consulting firm headquartered in New York City, acquired Bronfman Rothschild and merged the company with Sontag Advisory, an RIA it had acquired several years earlier. The newly merged companies rebranded as Wealthspire.

The firm now has satellite offices in Potomac, Md.; Reston, Va.; and Philadelphia and currently oversees approximately $10.6 billion in assets under management. With the acquisition of StratWealth, Wealthspire's AUM will grow to more than $12 billion in a blockbuster deal that both firms' CEOs praised in the news release.

“StratWealth has a fantastic culture of client service and talented advisors that fit well with Wealthspire,” said Wealthspire CEO Mike LaMena in the news release. “Integrating them with our deep investment platform, robust technology and back office support structure will enhance value for StratWealth’s clients … and expand our presence in the Mid-Atlantic market.”

StratWealth, headquartered in Maple Lawn, Md., with offices in Annapolis and Salisbury, was established in 1991. The firm serves more than 900 families and over 100 business retirement plans, which will become part of NFP’s retirement business, bringing expanded support and services.

James DeCarlo, CEO of StratWealth, said in the news release that being part of Wealthspire would be a game-changer for his clients and associates.

“We are looking forward to fully integrating with Wealthspire and becoming part of a dynamic, growing firm with broader services and a national presence,” DeCarlo said in the news release. “We’ll still have the same close-knit company culture and commitment to serving our clients, just with a much deeper talent base supporting us.”

In an October 1, 2020, e-mail, LaMena discussed Wealthspire’s current and future plans for further growth and explained why now was the right time for the firm to resume a strategy of M&A growth.

"Inorganic growth has always been an important part of our overall strategy," he said. "While the acquisition of StratWealth is our first deal under our new Wealthspire brand, it is the latest of multiple successful deals we have executed over the past five years. The impetus for executing this deal at this time was 1) our assessment of the alignment in culture and values, and 2) our deep belief that integrating StratWealth into Wealthspire would increase value to end clients and expand the opportunity set for our team members.

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