New aggregator takes stake in three RIAs managing $11 billion

Wealth Partners Capital buys into Forbes Family Trust, MAI Capital and EP Wealth Advisors

Jul 12, 2017 @ 10:37 am

By InvestmentNews

Three former executives in the wealth management business of Affiliated Managers Group have formed an aggregation firm taking minority stakes in Forbes Family Trust, MAI Capital Management and EP Wealth Advisors.

The new firm, Wealth Partners Capital Group, is headquartered in West Palm Beach, Florida, and is led by John W. Copeland, Rich Gill and Sean Bresnan. They said the firm has received an investment from AMG in the form of the contribution of its minority interest in Forbes Family Trust, as well capital from a number of wealthy individual investors with experience in the wealth management business.

The management teams of each firm will continue to hold a majority of the equity in their business and control day-to-day operations, Mr. Copeland said.

"We will be helping them expand into new geographies, add advisers and acquire firms, as well as help with new developments in technology, operations and compliance," said Mr. Gill. "We will help them grow by doing things they can't do by themselves."

As part of the transaction, the management teams of each firm have entered into long-term employment agreements with their respective firms. The terms of the transactions were not disclosed.

EP Wealth Advisors, based in Los Angeles, manages more than $2.9 billion, and has offices in Irvine, Calif., and the San Francisco Bay area, as well as in Seattle and Denver.

Based in New York and Philadelphia, the Forbes Family Trust manages $4 billion in assets for approximately 40 families.

MAI Capital Management, based in Cleveland, Ohio, manages over $4 billion in assets through offices in Ponte Vedra Beach, Florida; Nashua, New Hampshire; Columbus, Ohio; and Irvine, California.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

3 Questions to ask yourself when making your succession plan

Michael Futterman from Janus Henderson Investors has sage advice for advisers as they approach retirement.

Latest news & opinion

Cetera brokers may go elsewhere with no stay bonuses on horizon

Some may feel spurned and leave, while others will simply shrug off latest slight and stay.

Fidelity backs away from being 'point in time' fiduciary for 401(k) plans

Some advisers think this indicates other providers will pivot in light of DOL fiduciary rule's death.

Morgan Stanley CEO is happy that brokers are staying put

Firm has seen little attrition since it dumped the broker protocol last fall, Gorman says.

Bills to reform adviser regulation, increase sophisticated investors and protect seniors pass House

Measures included in package of 32 bipartisan bills meant to ease rules, spur investment

Genstar Capital buys majority stake in Cetera Financial Group

The private-equity firm has previously invested in such companies as Mercer Advisors and AssetMark.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print