Backed by a majority owner, F2 Strategy has acquired a number of businesses in recent years. It shows how consolidation affects different parts of the sector adjacent to wealth management.

F2 Strategy, the US-based wealth management technology and marketing services consultancy, continues to use the financial firepower of its owner, Renovus Capital Partners, in acquiring new businesses. This week F2 Strategy said it had bought HBMJ Consulting LLC, a consulting firm based in the New York City metro area, but it did not disclose the financial terms of the deal.

HBMJ specializes in operational scalability, data intelligence and technology transformation for hedge funds, hybrid funds, private credit and other alternative investment firms seeking institutionalization of the back office.

This move follows F2 Strategy’s purchase of Aliter Investment Services earlier in 2025. Since Renovus took its majority stake in June 2023, F2 Strategy has added Oakbrook Solutions, SKY Marketing, and MD Solutions and Aliter.

Founded in 2004 by Dan Hunter, HBMJ’s expertise spans system implementation and integration, data and reporting transformation, workflow automation and tactical execution support. 

“Just as F2 is a trusted partner to wealth management firms, HBMJ fills that same role for hedge funds,” Doug Fritz (pictured below), co-founder and executive chairman of F2 Strategy, said. “Like our previous acquisitions, HBMJ was built by an industry insider whose team brings unmatched knowledge and cultural alignment.”

Doug Fritz

The 18-member HBMJ team – including Hunter, delivery head Nathan Morey, director of technology solutions CJ Lin, and business development officer Lena Friedman – will remain in place as the company integrates into F2 Strategy.

Nick Quil, an operating partner with Renovus Capital Partners, has assumed the role of interim CEO while a search is underway for a long-term replacement. The role was previously held by Ryan Beach, who departed in September.