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Deals Of The Day: The Latest In Wealth Management M&A – Wealthspire Advisors

Editorial Staff March 24, 2023


The latest deals and transactions in and around North American wealth management.

Wealthspire Advisors, an NFP company and investment advisor, this week announced a signed agreement to purchase Heron Financial Group, a New York City-based wealth advisory firm that manages approximately $300 million in assets. 

“We are delighted to welcome David Edwards and the Heron team to Wealthspire,” said Mike LaMena, Wealthspire’s CEO. “The addition of this experienced team deepens our New York City presence with talented professionals who are committed to delivering an amazing client experience built on a foundation of trust and fiduciary care,” he continued. 

“For three decades, we adapted our firm to meet the evolving needs of our clients,” said Edwards. “We are thrilled to join Wealthspire Advisors to add additional capabilities as we advise the ever more complex requirements of modern families.” 

The transaction is expected to close early in the second quarter of 2023, subject to customary approvals and closing conditions. 

Park Sutton Advisors, a Waller Helms Company, served as advisor and Wiggin and Dana LLP served as transaction legal counsel to Heron Wealth. 

Founded as predecessor Heron Capital Management by president David Edwards in 1996, Heron Wealth provides financial planning, investment advice, and estate planning services to client families living in the United States. Heron’s purpose is to create lifetime relationships with their clients across generations including professional and executive individuals and their families, business owners, and rising professionals. 

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