iM Global Partner today announced that it has entered into a definitive agreement to acquire Litman Gregory, a San Francisco Bay Area wealth and asset management boutique managing $4 billion in assets under management and overseeing $2.2 billion of assets in an advisory capacity.

The transaction, which is expected to close in the second quarter of 2021, is subject to the approval of the Securities and Exchange Commission.

Founded in 1987, Litman Gregory, an independent, privately-owned company, has for three decades focused on providing in-depth investment research and personalized wealth management to individuals and multigenerational families to help them achieve their financial goals, the announcement said. It also said the company supports nonprofit organizations by serving as their fiduciary partner and outsourced chief investment officer, and has developed a broad range of U.S. mutual funds since 1996.

Early in its history, Litman Gregory rose to prominence publishing an investment newsletter, The No-Load Fund Analyst. Many advisors admired the publication for the quality and depth of its research.

According to the announcement, iM Global Partner, which has become a premier global asset management network, plans to operate Litman Gregory Wealth Management as a separate business unit to preserve the strong recognition, independence and expertise that it has built over many decades with its cross-generational clients.

“Combining Litman Gregory’s capabilities with iM Global Partner creates a uniquely powerful set of high-quality investment solutions to serve both institutional and private clients in the U.S. and internationally,” the announcement noted.
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Steve Savage, CEO of Litman Gregory, said they are excited to become a part of iM Global Partner as it improves their ability to deliver on their mission to excel for their clients. “iM Global Partner brings complementary global research resources and strong alignment on total client focus. The combination of our organizations is a natural fit because of our shared research DNA, commitment to independent thinking, integrity and total client focus,” he said in a statement.

The addition of Litman Gregory in the U.S. is expected to boost its AUM to more than $24 billion and will enhance distribution capabilities in the U.S., the announcement said. It added that it further demonstrates iM Global Partner’s commitment to continued cross-border growth in serving the needs of sophisticated investors. iM Global Partner is present in 11 locations across Europe and the U.S.

“Litman Gregory becoming a part of our group is a major step forward as we continue our U.S. expansion, said Philippe Couvrecelle, CEO and founder of iM Global Partner. “This strategic operation allows us to add Wealth Management as a new key activity for iM Global Partner. Our clients will benefit from the synergies that result when like-minded organizations leverage their talents and resources to enhance the client experience,” he added.

The law firm Seward & Kissel represented iM Global in connection with this transaction.