M and A
Deals Of The Day: The Latest In Wealth Management M&A – SEIA, Select Money Management, Beacon Pointe
The latest mergers, acquisitions and other corporate actions in the wealth management sector.
Signature Estate & Investment Advisors
Signature Estate & Investment Advisors (SEIA), a US
wealth management firm, said that it has agreed to buy
Select Money Management (SMM), a firm located in Aliso Viejo,
California. SMM has about $1.6 billion in AuM.
SEIA – a firm with big growth ambitions – has more than $30 billion in assets under advisement (AuA); it wants to hit a target of $100 billion over the next five years, it said in its statement yesterday. Private equity firm Reverence Capital Partners partnered with SEIA in 2022, giving SEIA a financial warchest to finance deals.
The SMM deal – financial terms weren’t disclosed – is SEIA's second-largest acquisition to date. Earlier this year, it appointed Matt Matrisian (pictured below) as president, which the firm said demonstrated its momentum and commitment to building a scalable national platform for advisors and their clients. SEIA launched a dedicated M&A drive in late 2023; it expanded the leadership team, adding Matrisian and Brad Repinsky.
Matt Matrisian
The acquisition expands SEIA's Southern California presence with a new Orange County office in Aliso Viejo and 10 additional advisors and staff.
SEIA also added AssetMark as a new custodial partner.
Greenberg Traurig, LLP served as legal counsel to SEIA in connection with the transaction and Transaction Legal Services, Inc served as legal counsel for Select Money Management.
Beacon Pointe Advisors
Beacon
Pointe Advisors has acquired three RIAs, boosting its total
assets under advisement to about $48 billion.
These deals include Alderfer Bergen & Co in Warsaw, Indiana; Moser Wealth Advisors in Bellevue, Washington; and Amore Ambro, in Jericho, New York.
The financial terms of the acquisitions weren’t disclosed.
Alderfer Bergen & Co (team below), which is led by partners and managing directors Alan Alderfer, Michael S Bergen, and Jason Gergely, has $650 million in assets under management.
Moser Wealth Advisors (pictured below), established in 2006, has about $270 million in client assets. Its team includes partner and MD, Scott Moser.
Amore Ambro, founded by Louis Ambrosio (pictured) in 2018, oversees $165 million in client assets.
Louis Ambrosio