San Francisco-based RIA Perigon is celebrating Valentine's Day by unveiling a hefty addition to its independent advisor network.
Perigon Wealth Management has acquired Prudeo Partners, an independent asset management and planning practice with offices in Reading, Pennsylvania, and West Columbia, South Carolina.
The move adds approximately $425 million in client assets to Perigon’s portfolio, bringing its client assets to around $6.9 billion as of January 31.
"Prudeo’s practice is built upon delivering a client-centric, goal-oriented financial plan and that is a perfect fit for the culture we continue to build at Perigon,” Arthur Ambarik, CEO of Perigon, said in a statement. “We are thrilled to work closely with the team as they drive meaningful growth for their practice by delivering for their clients."
Prudeo Partners has two offices in Reading, Pennsylvania, and West Columbia, South Carolina. Its team is led by Michael Krumholz and Andrew Todd, who are joining Perigon as partner and wealth advisor, respectively.
“We knew early in our discussion that Perigon would provide our team, and importantly our clients, with what we needed for the next phase of our growth," said Krumholz, who praised the support his new firm provides with customized financial planning, investment and technology options, and flexible affiliation model.
For his part, Todd commended the "strong and well-defined culture at Perigon that puts advisors in charge of decisions throughout the business.”
Coming along for the transition are financial advisors Sheila Little and Manuel Villegas, as well as a support staff of individuals in various client relationship, operations, and research positions.
Recently, the firm unveiled plans to better serve high-net-worth athletes through a partnership with Premier Sports Network.
It has engaged in several strategic initiatives over the years, including receiving a minority investment from Constellation Wealth Capital and merging with PM Wealth Management, as well as forming a strategic alliance with Prager Metis tax advisory firm and acquiring Nauset Wealth Management.
After advising on nearly $700 million in retirement assets, 27-year veteran Greg Mykytyn is bringing his expertise in ESOP and 401(k) plans to the national RIA in Texas.
The defectors from Cetera, Lincoln Investments, and DA Davidson strengthen the firms' presence across the Eastern and Western US.
InvestmentNews is searching for the country's emerging young talents.
Focus gets back to external M&A after its January rebrand, while Cerity enters the Arizona market with a veteran planning-focused team.
Complaint details near decade-long scheme raising almost $40 million from dozens of clients, including Venezuelan nationals, Catholic dioceses, and elderly individuals.
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.
