Trendy Wealth Clears $7.5B in AUM With Chicago-based Acquisition
Trendy Wealth Administration has pushed previous $7.5 billion in belongings beneath administration two years after launch with the acquisition of Chicago-based OFM Wealth.
In line with its most up-to-date Type ADV, OFM is a fee-only registered funding advisor working with greater than 175 households representing about $310 million in consumer belongings. It was based in 1981 by Sam Ogrizovich, who joins Trendy Wealth with 5 different workers members.
The transfer provides Trendy Wealth its first foothold in Chicago, bringing the agency to 18 places of work round the USA. The Monterey, Calf.-based RIA was based by former United Capital executives and is backed by $200 million in fairness financing from Crestview Companions.
DeVoe & Firm represented OFM Wealth within the transaction.
EP Wealth Advisors Acquires Southern California RIA with Tax and Property Experience
EP Wealth Advisors, an RIA acquirer with $32.6 billion in consumer belongings, has secured its fifth acquisition of the 12 months with Westlake Village, Calif.-based NBS Monetary Providers.
NBS will convey Torrance, Calif.-based EP Wealth $230 million in AUM and specialty past funding administration in monetary, tax, property and retirement planning.
President Geordie Crossan, whose father based the agency in 1981, and two workers members will be a part of EP Wealth, which already has an workplace in Westlake Village.
EP Wealth has 50 places of work in 17 states. It’s employee-owned and led, with non-public fairness backing from Berkshire Companions.
Kestra Personal Wealth Snags Advisor from Raymond James
Former Raymond James advisor John Griffin has joined Kestra Personal Wealth Providers, the RIA of Kestra Monetary, as a part of its Cordele, Ga-based Impressed Wealth Planning, which Kestra added to its platform in 2023.
Griffin and his crew of two beforehand managed just below $190 million in consumer belongings for about 850 purchasers at Raymond James. They are going to now work from a brand new workplace in Moultrie, Ga., which can be a part of Impressed Wealth’s different places of work throughout the state.
Austin-based Kestra Monetary advises about $103 billion in belongings and has about 1,700 impartial monetary advisors on its platform.
Sowell Hires Funding, M&A Leaders
Sowell Administration, a $5.5 billion RIA based mostly in North Little Rock, Ark., has employed new leaders in investing, finance and technique to bolster its funding choices for advisors and M&A efforts.
Scott Dooley was given the newly created function of managing director of funding administration gross sales, which targeted on natural development, market presence and advisor relations. He was beforehand the founder, CEO and chief funding officer of Fusion Funding Group.
Sabrina Freeman has been employed as Sowell’s director of finance and director of Trek Wealth Options, Sowell’s monetary advisory retail arm. She is going to concentrate on the agency’s inorganic development, expertise improvement and operations.
Freeman beforehand held management roles at Walmart, Wealthpath Funding Advisors & Pensionmark Securities, and LPL Monetary, the place she was vp of wealth administration, operations and technique.
Each will report back to Sowell President Daryl Seaton.
