After a handful of delays, the merger that would take a giant registered investment adviser, Tiedemann Advisors with $26.6 billion in assets, public via a merger with a SPAC — an investment vehicle known as a special purpose acquisition company — has cleared a major hurdle that moves the deal forward.
In September 2021, Tiedemann, a New York-based RIA, and Alvarium Investments Ltd., a London wealth management and investment firm with global reach and an RIA in Miami, said that they had entered into an agreement to combine with Cartesian Growth Corp., the SPAC. The deal has been closely watched by the RIA industry, particularly the swarm of industry aggregators that are buying firms and packaging them as giant RIA networks.
The anticipated date for the deal to close and complete the listing has been missed a couple of times since the announcement last year. But Monday, Tiedemann said the Securities and Exchange Commission had approved the firm's registration filings that allow a vote of the shareholders of the SPAC, Cartesian Growth, to approve the merger on Nov. 17.
The new company will be called Alvarium Tiedemann Holdings.
"We are pleased to reach this important milestone in the transaction process which will lead to Alvarium Tiedemann" becoming a public company once approved by Cartesian shareholders, Michael Tiedemann, CEO of the Tiedemann Group, said in a statement.
Jim Cahn, of Wealth Enhancement Group, lifts the lid on his firm's partnership model, his views on RIA M&A, and the widely slept-on reason why advisors are merging into larger organizations.
The fintech firm is cementing its status in the workplace savings space with its latest ESA offering, which employers can integrate into their existing benefits package.
Wealth managers offer unique ideas for couples to grow closer emotionally and financially.
Survey findings suggest increased sense of financial security and more optimistic 2025 outlook, while highlighting employers' role in ensuring retirement readiness.
Falling prices for some securities within the $4 trillion state and local government debt market spotlight how the push to shrink spending is sending shockwaves across the US.
Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies
From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.
