Wealth Partners Capital Group, an $11 billion RIA aggregator based in West Palm Beach, Fla., announced its launch on Monday, with minority investments in three platform firms.

Former Affiliated Managers Group (AMG) executives John W. Copeland, Rich Gill and Sean Bresnan will form the management team of the new aggregator. AMG is believed to be investing in the new RIA aggregator.

Wealth Partners Capital Group also announced that it has made investments in New York-based Forbes Family Trust, Cleveland-based MAI Capital Management and Los Angeles-based EP Wealth Advisors. The management of each firm will continue to hold a majority of the equity and control the day-to-day operations in their businesses, according to Wealth Partners.

Wealth Partners says it will assist the three partner firms in acquiring smaller, high-quality RIA firms seeking a supporting partner and operational platform.

“We are focused on our partnerships with these three leading wealth advisory firms, run by deep and experienced management teams,” said Copeland in released comments. “As the independent wealth management industry continues to grow and mature, a long-term solution for smaller firms in need of business and operations support will be critical.”

Forbes Family Trust manages about $4 billion in high-net-worth and ultra-high-net-worth assets.

EP Wealth Advisors is a fee-only RIA with more than $2.9 billion in AUM.

MAI Capital Management serves high-net-worth individuals, families and athletes, and manages more than $4 billion in assets.

“Smaller, independent firms are increasingly challenged by regulatory and compliance costs, rapid changes in technology and security and limited succession planning,” said MAI Managing Partner Rick Buoncore in released comments. “We believe the partnership with Wealth Partners Capital Group creates a compelling opportunity for a firm of our size, scale and caliber to support and partner with other quality advisors.”


First « 1 2 3 » Next