Emigrant Partners, the private equity arm of New York Private Bank & Trust, has made a minority investment in Pure Financial Advisors, a California-based registered investment advisory firm managing more than $2.4 billion. The amount of the transaction was not disclosed.
The transaction will provide Pure, which has offices in San Diego, Orange County and Los Angeles, with access to capital for organic growth initiatives and reinvestment in the company, and M&A support for future acquisitions, Emigrant said in a release.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
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