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Announced

NFP-backed Wealthspire Advisors to acquire Private Ocean.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

Majority

Friendly

fiduciary wealth management

United States

Pending

Domestic

Asset Managers and Custodians

Acquisition

Single Bidder

Synopsis

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NFP-backed Wealthspire Advisors, an independent investment adviser, agreed to acquire Private Ocean, a fiduciary wealth management firm. Financial terms were not disclosed. "This is a fantastic opportunity for Wealthspire. The Private Ocean team, led by innovative leader Greg Friedman, shares our commitment to delivering great outcomes for clients, and their vision and culture are a natural fit with Wealthspire. This is a significant way to plant a flag on the West Coast and demonstrate our growing national scope," Mike LaMena, Wealthspire CEO.

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