New aggregator takes stake in three RIAs managing $11 billion

Wealth Partners Capital buys into Forbes Family Trust, MAI Capital and EP Wealth Advisors.
JUL 12, 2017
Three former executives in the wealth management business of Affiliated Managers Group have formed an aggregation firm taking minority stakes in Forbes Family Trust, MAI Capital Management and EP Wealth Advisors. The new firm, Wealth Partners Capital Group, is headquartered in West Palm Beach, Florida, and is led by John W. Copeland, Rich Gill and Sean Bresnan. They said the firm has received an investment from AMG in the form of the contribution of its minority interest in Forbes Family Trust, as well capital from a number of wealthy individual investors with experience in the wealth management business. The management teams of each firm will continue to hold a majority of the equity in their business and control day-to-day operations, Mr. Copeland said. "We will be helping them expand into new geographies, add advisers and acquire firms, as well as help with new developments in technology, operations and compliance," said Mr. Gill. "We will help them grow by doing things they can't do by themselves." As part of the transaction, the management teams of each firm have entered into long-term employment agreements with their respective firms. The terms of the transactions were not disclosed. EP Wealth Advisors, based in Los Angeles, manages more than $2.9 billion, and has offices in Irvine, Calif., and the San Francisco Bay area, as well as in Seattle and Denver. Based in New York and Philadelphia, the Forbes Family Trust manages $4 billion in assets for approximately 40 families. MAI Capital Management, based in Cleveland, Ohio, manages over $4 billion in assets through offices in Ponte Vedra Beach, Florida; Nashua, New Hampshire; Columbus, Ohio; and Irvine, California.

Latest News

Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says
Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says

Counting advisor moves in and out of firms requires some art as well as science.

Carson Group's M&A head sees '10-to-15 year bull market' for RIAs
Carson Group's M&A head sees '10-to-15 year bull market' for RIAs

“I'm just a big believer that based on demographics alone, we are looking at a 10-to-15 year bull market in M&A in the RIA and independent wealth space,” said Michael Belluomini, SVP of M&A at Carson Group.

Nationwide finds Medicare myth on long-term care could cost Americans dearly
Nationwide finds Medicare myth on long-term care could cost Americans dearly

As a tsunami of retirees comes crashing in, three-fifths of those surveyed believe – wrongly – that the federal safety net will cover their LTC needs.

Fintech bytes: Orion, Altruist unveil new RIA-focused integrations
Fintech bytes: Orion, Altruist unveil new RIA-focused integrations

Orion's latest update, a partnership with 11th.com, focuses on an underserved area of compliance for advisors and wealth firms.

Raymond James reels in advisors managing $1B+ in Colorado
Raymond James reels in advisors managing $1B+ in Colorado

The latest arrivals, including a 10-advisor ensemble from Ameriprise, bolster the firm's independent contractor and employee advisor channels.

SPONSORED RILAs bring stability, growth during volatile markets

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.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave