Two RIAs are coming together to elevate their ability to service high-flying aerospace executives in Seattle.
Focus Financial Partners has unveiled an agreement for Executive Wealth Group, a specialized planning and wealth management practice, to join Bordeaux Wealth Advisors, a partner firm within Focus's network.
Executive Wealth Group, headquartered in Kirkland, Washington, offers customized financial planning and investment management services primarily to senior corporate executives in the aerospace sector. Catering mainly to high-net-worth individuals, the firm has almost $400 million in assets under management, according to its most recent form ADV.
Meanwhile Bordeaux, which has offices in Menlo Park, California, and Seattle, Washington, specializes in managing assets for high-net-worth and ultra-high-net-worth individuals and families, offering a host of services that include financial planning, tax planning, equity compensation planning, estate and wealth transfer planning.
The merger, which will be completed in the second quarter of 2024, subject to customary closing conditions, is projected to enhance Bordeaux's wealth management capabilities for aerospace executives, while at the same time boosting its leadership in the Seattle market.
For its part, Executive Wealth Group expects the merger will allow its clients to benefit from Bordeaux’s investment options, tax planning, and wealth management services, as well as the larger firm’s robust operational infrastructure and seasoned team of professionals.
Between them, the principals of the two firms have been working with aerospace industry executives in Seattle for more than half a century.
"Partnering with Bordeaux solidifies a succession solution for our clients, and it will also allow us to draw from the substantial resources, top-notch talent, and knowledge of a great firm," Sam Maxwell, CEO and founder of Executive Wealth Group, said in a statement.
"Sam has built a fantastic practice at Executive Wealth Group,” said Bordeaux managing partner and CEO Tom Myers. “He is an exceptional and talented advisor, and he shares our passion for providing the very best advice and service, and always doing what is right for each and every client.”
Pradeep Jayaraman, managing director and co-head of partnerships and business development at Focus, said the transaction demonstrates “Focus’s commitment to adding value to our partners through our M&A expertise as they broaden their capabilities and accelerate their growth.”
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