Wealthspire Advisors, a New York-based registered investment advisory firm managing $17 billion, has agreed to purchase Sage Financial Advisors, a Reno, Nevada-based RIA managing $194 million.
Terms of the acquisition were not disclosed.
Wealthspire expanded on the West Coast in 2021 with the purchase of Private Ocean and has three offices in California and Washington. Following the acquisition of Sage, Wealthspire will oversee approximately $17 billion in assets across 20 offices throughout the country.
“With this addition, we expand our growing presence in the West, and further reinforce our firm as a truly national RIA,” Mike LaMena, chief executive officer of Wealthspire, said in a statement.
Sage Financial was founded in 1996 by Brian Loy, who will move to Wealthspire with colleagues Kirstin Griffin and Mary Stammers.
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The SEC-registered RIA advises on more than $1 billion in client assets, with no advisory fee through 2027 and no human financial advisors.
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