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Deals Of The Day: The Latest In Wealth Management M&A – LibertyFi, Aptus, Others

Editorial Staff January 22, 2024

Deals Of The Day: The Latest In Wealth Management M&A – LibertyFi, Aptus, Others

The latest mergers, acquisitions and other corporate actions in the wealth management sector.

LibertyFi, Aptus
LibertyFi, a technology and operations consultancy focused on the RIA sector, has merged with Aptus Capital Advisors, a chief investment office and outsourced CIO practice.

The financial terms of the arrangement were not disclosed.

The combined firm has more than $20 billion in client assets. It will provide a turnkey solution allowing advisors to fully outsource tech, investment management, and operations while also delivering services that can be incorporated with an advisor’s existing technology. 

LibertyFi told this news service that it does not intend to rebrand as a result of the deal.

LibertyFi claims that its clients’ organic growth rate – an average of 18 per cent – compares with the 4 per cent rate for RIAs in general (citing data from DeVoe & Company).

Constellation, Lido
Constellation Wealth Capital has taken a minority stake in Lido Advisors, an RIA. As a result of the deal, CWC will join Lido’s lead investor Charlesbank Capital Partners.

CWC is investing into a business founded in 1999, which has $19.1 billion of assets under management and 130 advisor reps in the US.

“The relationship will enable Lido to leverage CWC’s expertise and knowledge to further enhance and support our organic and inorganic growth,” Jason Ozur, Lido’s CEO, said.

The transaction was signed and closed in January. Ropes & Gray served as legal counsel to Lido, and Gibson, Dunn & Crutcher, served as legal counsel to Constellation Wealth Capital.

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