M and A
US Wealth Managers Merge, Expand Footprint
The merger enhances one of the party's capabilities in areas such as serving UHNW individuals, and strengthens a footprint in California and Colorado, and opens a market in Texas.
AlphaCore Wealth Advisory, an independent RIA, has merged with Callan Capital, a San Diego-based wealth management firm founded in 2007, overseeing $2.4 billion in assets under advisement. AlphaCore acquired Callan Capital to reach more than roughly $6.5 billion in assets, a spokesperson later explained to this publication when asked about the matter.
The transaction – the financial terms of which were not disclosed – is subject to the usual closing conditions.
The combination enhances AlphaCore's ultra-high net worth and family office capabilities, strengthens its presence in both San Diego, California and Denver, Colorado, while opening a new market in Austin, Texas.
"AlphaCore is committed to expanding with partners who share our dedication to excellence in wealth management," Dick Pfister, CEO and founder of AlphaCore, said. "This merger is a natural evolution of our long-standing relationship with Callan Capital.”
Through this combination, Callan will help the launch of AlphaCore Family Office Services, offering expanded tax advisory, estate planning, and philanthropic strategies, alongside the existing institutional investment management solutions available to AlphaCore's HNW and UHNW clients.
As part of the transition, co-founders Trevor Callan and Tim Callan will join AlphaCore's management committee, and Ryan Callan will lead the launch of AC Family Office Services. Along with their 24-person team of professionals spanning operations, compliance, human resources, financial planning, and wealth advisory, will integrate into the combined firm.
"We have developed a disciplined and selective inorganic growth strategy, as highlighted in our partnerships with All Season Financial, enTrust Wealth Advisors, and now Callan Capital. Our goal is to continue bringing on top-tier talent and complementary skillsets to strengthen our presence in key markets," AlphaCore's head of corporate development, Aidan Walsh, said.
