The Florida-headquartered GenSpring Family Offices have acquired Cymric Family Office Services, a Californian company. The combined firm will have more than $17 billion in assets under advisement. The parties plan to close the deal by the end of the year, subject to satisfaction of various customary closing conditions. Terms of the transaction were not disclosed.

“The acquisition of Cymric will put more power on the side of wealthy families and will accelerate us toward our goal of market leadership through national and international growth,” said Maria Elena Lagomasino, chief executive of GenSpring.

GenSpring, including its affiliate GenSpring International, manages the affairs of over 700 families. The firm is headquartered in
Palm Beach Gardens,
Florida and has local family offices in
Atlanta,
Charlotte,
Costa Mesa,
Greenwich,
New York City,
Miami,
Orlando,
Palm Beach,
Phoenix,
Tampa
Bay,
Sarasota, and

Washington
DC.