M and A
Deals Of The Day: The Latest In Wealth Management M&A – RWR, Moirai
The latest mergers, acquisitions and other corporate actions in the wealth management sector.
RWA Wealth Partners, managing $18 billion in client assets, has acquired San Francisco-based Moirai Wealth Management, an RIA with $344 million in assets under management. The financial terms were not disclosed.
Moirai, which was founded by Karen M Schmid in 2000, serves high net worth and ultra-HNW individuals and families.
"Acquisitions like Moirai will be a key part of our growth strategy as we continue to build RWA into one of the consequential boutique wealth management firms in the country,” Michelle Knight, CEO of RWA Wealth Partners, said.
"RWA is a nationally recognized firm with an excellent reputation in the family office sector. Joining this organization will enable us to expand our expertise in investment management, tax, and trust and estate planning, while collaborating with an exceptional team,” Schmid said.
Following the deal, which closed on August 15, RWR now has two offices and 14 employees in California, including the four-member team from Moirai.
RWA plans to establish a new office in downtown San Francisco in Fall 2025.