M and A
Deals Of The Day: The Latest In Wealth Management M&A – Summitry, Vantage Wealth, Others
The latest mergers, acquisitions and other corporate actions in the wealth management sector.
Summitry, Vantage Wealth
Summitry, a $3.5
billion registered investment advisor (RIA) based in the San
Francisco Bay area, has acquired California-based Vantage Wealth, an
RIA with $721 million in assets under management. It provides
tailored investment management and unbiased financial planning to
business owners, executives and successful families. The
financial terms of the transaction were not disclosed.
“Vantage Wealth has built its reputation by combining sophisticated financial expertise with deeply personal advice, ensuring every client feels confident, informed, and supported at every stage of their financial journey," said Colin Higgins, CEO of Summitry. “Our firms are very much aligned in terms of our values, vision and how we operate, which is why we are so excited to join forces with the Vantage team to build upon their incredible success in the southern California market.”
In November of 2024, Summitry was acquired by Aspen Standard Wealth, an RIA acquirer that serves as a permanent home and long-term partner for successful RIAs.
FP Transitions served as an advisor for the transaction.
Rise Growth Partners
Rise
Growth Partners has taken a minority stake in Cyndeo Wealth
partners, a business with about $3.1 billion in AuM,
headquartered in Florida’s St Pertersburg.
The firm is led by CEO Matt Kilgroe, who spent almost 10 years at UBS before launching Cyndeo in 2020. Clients are mainly small to mid-size business owners, entrepreneurs and professional athletes.
The move fits with other minority investments Rise has made, such as in OnePoint BFG Wealth Partners (formerly Bleakley Financial Partners), Grimes & Company and Krilogy.
Dynasty Financial Partners helped launch Cyndeo, including investing in the firm, and will now roll its investment over as part of the deal with Rise. Dynasty will also continue to provide technology and investment platform support, investment banking and lead flow to Cyndeo via Dynasty Connect.
Dynasty Investment Bank served as exclusive sell side advisor to Cyndeo on the transaction, while Hill, Ward & Henderson, PA served as its legal counsel. Kilpatrick Townsend & Stockton LLP served as Rise's legal counsel.