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.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
Raymond James also lured another ex-Edward Jones advisor in South Carolina, while LPL welcomed a mother-and-son team from Edward Jones and Thrivent.
MyVest and Vestmark have also unveiled strategic partnerships aimed at helping advisors and RIAs bring personalization to more clients.
Wealth management unit sees inflows of $23 billion.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
