Wealthspire Advisors acquires Heron Wealth

New York City-based Heron oversees $300 million in assets and is led by president David Edwards.

Wealthspire Advisors, a New York City-based registered investment advisory firm, has agreed to acquire Heron Wealth, another New York City firm overseeing $300 million in assets.

Heron’s president, David Edwards, founded a predecessor firm, Heron Capital Management, in 1996. The firm focuses on building lifetime relationships spanning generations with its clients.

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

The deal is expected to close early in the second quarter. Park Sutton Advisors was Heron’s advisor on the transaction; Heron also received legal counsel from Wiggins and Dana.

[More: Wealthspire Advisors to acquire Nevada RIA]