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Deals Of The Day: The Latest In Wealth Management M&A – Perigon
Editorial Staff
9 September 2022
Perigon Wealth Management PM Wealth will continue to run under its own brand.
Perigon Wealth Management, the US firm with about $3.6 billion of client money, has merged with New York-based PM Wealth Management, which oversees nearly $750 million in AuM.
When the merger is completed, Perigon will have more than 50 financial advisors and more than $4.3 billion in assets under management.
Previously, PM Wealth was part of Prager Metis, an accounting and advisory firm affiliated with Prager Metis International.
The financial terms of the transaction, which is expected to close in November, were not disclosed,
Perigon has made a number of M&A deals in recent months. It added Matthai Capital Management, a Baltimore-based independent RIA; Baker & Associates, an Irvine, California-based RIA; and Greenville Financial Group of Wilmington, Delaware.
Perigon will serve as the preferred wealth management solution for Prager Metis tax clients. Prager Metis will become one of the preferred tax firms Perigon uses to deliver holistic tax services to its existing, and future, clients.
The alliance will create a structure for client referrals between the two firms. Perigon will remain “tax agnostic,” Perigon said, therefore able to work with any tax firm that provides solutions that align with its clients' needs.
Also, earlier this year, Perigon significantly expanded its executive leadership team to help execute its robust growth strategy of acquiring independent RIAs and recruiting successful financial advisors.