Argos Wealth Advisors, a $775 million registered investment adviser based in Sacramento, California, has sold a minority ownership stake to Merchant Investment Management.
Merchant distinguishes its business from that of traditional private equity investors by describing its model as an equity capital investor.
For Argos, this represents a longer-term commitment and Merchant will not have the ability to force an investment exit or call the money back, said Tim Bello, managing partner at Merchant.
In the five years that Merchant has been making minority investments in the wealth management space, it hasn't yet sold off any of its investments.
“We’re excited to help them unlock the full potential of their philosophy and look forward to the value the Argos team will bring to the Merchant community,” Bello said.
Argos is described in a statement as a “research-forward thought leader in the high-net-worth client space, focusing on innovative strategies which complement the traditional two-dimensional stock and bond portfolios.”
The Merchant partnership will benefit Argos clients in several ways, “including our current priority to expand our idea generation and reach internationally,” Argos founder Michael Russo said in the statement.
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