Independent wealth management firm Perigon is continuing to grow its presence in the financial advisory landscape with the announcement of two new acquisitions.
Perigon Wealth Management has extended its reach in the Northeast with the addition of Blue Water and Lumin Financial.
Founded in 2007, Blue Water Capital Management is a Syracuse, New York-based firm that offers portfolio management for financial advisors, retirement plan solutions for employers, and financial planning for investors. The RIA had approximately $200 million in AUM as of January 31.
According to its most updated Form ADV, the firm has roughly $150 million in discretionary assets under management and is led by wealth advisor Stephen Swift, its CEO; investment advisor John Paganelli, its president, COO, and CFO; and Thomas Brown, director of retirement plan services.
Lumin Financial – established in 2000 in Southfield, Michigan – specializes in investment advisory services for employer-sponsored ERISA retirement plans and 401(k) plan participants, as well as high-net-worth investors. As of January 3, the firm reportedly managed $175 million in client assets.
Lumin Financial’s Form ADV shows it manages around $145 million in discretionary and $30 million in nondiscretionary assets. Viktor Hicks is the firm’s CEO and chief compliance officer.
Read more: What does a CCO do?
“We are thrilled to welcome these teams to Perigon,” Arthur Ambarik, Perigon’s CEO, said in a statement. “Our range of affiliation models and advisor support continue to make our majority advisor-owned firm an attractive partner for growing financial practices.”
The acquisitions are part of Perigon's strategic expansion, which has seen the firm add teams and offices across six major markets since December 2021. Those include Westport, Connecticut-based RIA Nauset Wealth Management in 2022 and, more recently, its acquisition of Prudeo Partners last month, which vaulted its assets to $6.9 billion. Recently, Perigon announced Constellation Wealth Capital as a new minority investment partner, further enabling its growth strategy through flexible affiliations.
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
FINRA has been focused on firms and their use of social media for several years.
RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
