Tag: Partners

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Bluespring Wealth Partners Acquires $950+ Million Security Financial Management

AUSTIN, Texas–(Small business WIRE)–Bluespring Wealth Companions, LLC, an marketplace-top acquirer and associate of very best-in-course wealth administration corporations, right now introduced the acquisition of Safety Financial Management.

Founded around 30 decades ago, Security Fiscal Administration has an workplace in Minnesota and a few Florida places of work, with additional than 15 economical pros. The firm is led by a seasoned and dynamic administration team, which involves Co-Founders Dave Allen and Frank Lovaglio. Making use of a arms-on and romantic relationship-centered tactic, the Protection Fiscal Administration group provides a detailed suite of prosperity management services for substantial-net-value men and women and people.

“We are unbelievably proud of our group and the business that we have constructed more than the last 30 yrs,” mentioned Lovaglio. “We are partnering with Bluespring Wealth Companions for the reason that we are prepared for an fascinating new chapter, which will allow Dave and I to concentrate on the factors we get pleasure from most ― working with consumers and constructing the company.”

With about $950 million in assets below management and a consistent monitor document of fantastic natural advancement, the fiscal professionals at Security Monetary Administration have developed a robust system. The firm’s staff spans numerous generations, enabling them to get the job done with a wide variety of clientele to meet their wants currently and for decades to come. Through the application of consultative methods and significant again-place of work assistance, Bluespring Prosperity Partners will support to elevate the company’s present strengths and increase its scope. The new partnership will emphasize growth as a result of mergers, expertise recruitment, and expanded client company offerings.

“Bluespring Prosperity Partners’ emphasis on lifestyle and the benefit of offering on claims was essential to our determination to align with them,” explained Allen. “As we acquired about their exclusive partnership model, which empowers corporations like ours to be the ideal attainable version of ourselves, it was very clear that this was the correct step for our firm.”

“Dave, Frank, Mike, and Keith are a powerful management staff who have an amazing depth of shopper interactions and engagement,” mentioned Stuart Silverman, President of Bluespring Prosperity Associates. “They have assembled an fantastic staff of advisors, who we’re enthusiastic to get the job done with and go on investing in intensely.”

Stability Fiscal Administration is Bluespring Prosperity Partners’ third acquisition in 2022, contributing to a strong start off to the new calendar year. Bluespring Prosperity Partners correctly accomplished 5 acquisitions in 2021.

About Bluespring Prosperity Partners, LLC

By means of a hugely customized and people today-centric solution, Bluespring Prosperity Associates is focused to the acquisition and support of the industry’s premier prosperity administration firms. In partnering with finest-in-class prosperity advisors and their groups, Bluespring Wealth Associates appears to be to perpetuate and greatly enhance the benefit that they convey their clientele, providing continuity and new chances in the method. Bluespring Prosperity Associates was founded with the express reason of aiding business people take their business to the subsequent degree of advancement by means of successor identification and coaching, market-primary consulting and operational methods, versatile ownership preparations, and institutional cash support. By concentrating on partnership as the driver of achievements, Bluespring Wealth Companions empowers prosperity administration organization entrepreneurs to elevate their enterprise with no sacrificing their entrepreneurial spirit, founding concepts, and extended-expression eyesight.

Bluespring Wealth Companions is a subsidiary of Kestra Holdings.

Securities supplied as a result of Kestra Expense Providers, LLC and financial investment advisory products and services presented via Kestra Advisory Companies, LLC.

For more details about Bluespring Wealth Companions, you should pay a visit to www.bluespringwealth.com.

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Kingswood U.S. Partners with Briarcliffe Credit Partners as Flagship New York City OSJ

Strategic Alliance with Leading Private Credit Placement Agency Delivers Access to $1.2 Trillion Asset Class for Kingswood U.S.-Affiliated Financial Advisors, Driving Comprehensive Investment Solutions for Clients

NEW YORK, Jan. 27, 2022 /PRNewswire/ — Kingswood U.S., a network of independent wealth management firms that oversees more than $3 billion in client assets, today announced the strategic alliance with Briarcliffe Credit Partners serving it as a premier Office of Supervisory Jurisdiction (“OSJ”) in New York City. As part of this relationship, Briarcliffe, a leading placement agency exclusively dedicated to private credit, will provide access to industry-leading private credit opportunities and vehicles for Kingswood U.S.’s affiliated financial advisors across the country.

This partnership reflects the growing demand among retail investors for private credit investments that deliver greater opportunities for durable income, capital appreciation and portfolio risk management outside of traditional equity and fixed income markets.

Briarcliffe is one of the largest independent private market placement firms and the industry’s only placement agency focused exclusively on private credit. Led by private credit industry veteran Jess Larsen, who founded the firm in 2021 and is its CEO, Briarcliffe serves institutional investors from its headquarters in New York City.

Michael Nessim, CEO, President and Managing Partner of Kingswood U.S., said, “Private credit represents a $1.2 trillion market today and is positioned for significant growth in the future, including with retail investors across the country. In the face of turbulent markets and continued economic uncertainty, investors recognize the limitations of traditional public equities and fixed income. Our relationship with Briarcliffe will equip our financial advisors with tools to help their clients build portfolios that meet their financial goals more effectively than ever. We are incredibly pleased that Jess and his team have chosen to affiliate with Kingswood U.S. as its broker-dealer, and we look forward to supporting their continued growth and success.”

Briarcliffe is an OSJ branch of Kingswood Capital Partners, one of the firm’s two FINRA-licensed broker-dealers. Kingswood U.S. also includes the broker-dealer Benchmark Investments and two SEC-registered RIAs, Kingswood Wealth Advisors and Benchmark Advisory Services. Collectively, the New York City-based firm supports more than 200 financial advisors.

Mr. Larsen said, “Kingswood U.S. is well respected for its global approach, eye to the future and dedication to enabling those who affiliate with them to grow. We are excited that our relationship with Kingswood U.S. will provide their advisors direct access to the growing world of private credit, an asset class that will only continue expanding over the coming years.”

Mr. Nessim concluded, “The private market will see substantial expansion and change over the next five years. Working with Briarcliffe will bring private credit strategies to clients seeking meaningful alternative investments.”

About Briarcliffe Credit Partners
Briarcliffe Credit Partners is a placement agency exclusively dedicated to private credit. Headquartered in New York, Briarcliffe seeks to capitalize on the increasing complexity and growth of the private credit market. The firm provides fundraising services to private credit investment firms focusing on niche strategies outside direct lending, with fund sizes up to $1.5 billion and potentially higher.

About Kingswood U.S.
Kingswood U.S. is a network of wealth management firms that includes two SEC-registered RIAs and two FINRA-licensed broker-dealers collectively overseeing more than $3 billion in assets, offering comprehensive wealth management and business-building services, designed specifically for the independent financial advisor. Together with our parent company, Kingswood Group, we combine the resources and capital of a very large financial services firm with the personalized touch and feel of a boutique company. With over 200 advisors across the United States, Kingswood has earned a reputation as a firm built for advisors by advisors.

Media Contacts:
Media Contact for Kingswood U.S.
Joseph Kuo / Donald C. Cutler
Haven Tower Group
424.317.4851 or 424.317.4864
jkuo@haventower.com or dcutler@haventower.com

Media Contact for Briarcliffe Credit Partners
Nicole Dean
Prosek Partners
248.836.8851
ndean@prosek.com

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SOURCE Kingswood U.S.

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Ritholtz Partners With WisdomTree to Launch Crypto Index

Ritholtz Wealth Management has teamed up with WisdomTree to launch the RWM WisdomTree Crypto Index that will provide exposure to Bitcoin (36{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}), Ethereum (20{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) and 11 other cryptoassets (at 4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} each). Those 11 additional cryptoassets include layer-1 networks, layer-2 protocols, oracle networks, crypto indexing services, decentralized finance (DeFi) and the metaverse.

While the index is currently only available to Ritholtz clients using separately managed accounts on Gemini, Onramp is bringing this to a wider swath of advisors via its cryptocurrency platform, writes Michael Batnick, director of research at Ritholtz.

“In our view, this direct indexing implementation of the RWM WisdomTree Crypto Index via Onramp Invest and Gemini is the best assembled structure and diversified cryptoasset exposure currently available to U.S. investors and particularly the RIA community,” said Jeremy Schwartz, global chief investment officer at WisdomTree, in a statement.

“Cryptoassets show great promise for financial advisors to add value, to be compensated for it, and to do so in a way that can be in line with their fiduciary responsibilities,” said Eric Ervin, chief investment officer and co-founder at Onramp Invest. “Our goal at Onramp from day one was to make this possible.”

The cryptocurrency and investing communities have waited years to have a Bitcoin ETF approved by the Securities and Exchange Commission, and, so far, no ETF that directly invests in Bitcoin has been approved. The Winklevoss twins were the first to file for a Bitcoin ETF in 2014.

SEC Chair Gary Gensler gave a speech on crypto ETFs in August, indicating that the commission would prefer funds that invest in Bitcoin futures. And Gensler just recently doubled down on his concerns about spot Bitcoin ETFs.

ProShares made history in October with the launch of the first bitcoin futures ETF, under ticker BITO. A few other bitcoin futures ETFs have listed since then.

Thrivent Gets Into the ETF Game

Thrivent, the Midwest-based not-for-profit financial services organization founded by Lutherans, has filed an initial registration statement with the SEC for an exchange traded fund.

According to the filing, the firm plans to launch the Thrivent Small-Mid Cap ESG ETF (TSME), which will be actively managed and invest in the companies with market capitalizations at or below the market cap of the largest company in either or both of the Russell 2500 Index or the S&P MidCap Index.

“The new ETF is part of the organization’s long-term strategic growth objectives focused on helping more clients achieve financial clarity,” a spokeswoman said in a statement.

It will use the “proxy portfolio” methodology, under which Thrivent will provide daily disclosures of a proxy portfolio, which reflects the economic exposures and risk characteristics of the portfolio, without revealing the actual holdings. This reduces front-running and intellectual property theft.

 

The ETF will be a completely new fund, not a conversion of one of Thrivent’s existing mutual funds. Several traditionally active managers have announced plans to convert mutual funds into ETFs.

Apollo Continues Its Move Into Retail Wealth Management

Private equity firm Apollo continues to build out its global wealth management solutions business with the acquisition of Griffin Capital, a privately held alternative investment asset manager in Los Angeles. The move adds 60 retail-facing distribution professionals and hundreds of distribution agreements, as Apollo continues to bring its products and services to the retail wealth management market.  

Apollo recently set a target at its investor day of raising $50 billion-plus of organic capital for its global wealth business over the next five years.

In May, the company introduced the new business unit and outlined plans to develop new products that individuals can invest in through financial advisors.

Griffin is particularly strong in its distribution capabilities to the independent channel, Apollo said, a nice complement to its focus on private banks, wirehouses, RIAs and family offices.  

“The democratization of finance brings tremendous opportunity for individual investors to access alternatives,” Apollo CEO Marc Rowan said in a statement. “With the acquisition of Griffin, we will significantly advance our U.S. wealth market growth plans that we presented at our recent Investor Day. As one of the first firms to bring alternative strategies to the individual investor and advisor market in the U.S., Griffin has built trusted relationships over 20-plus years, and in combination with Apollo can offer the market a broader set of solutions.”

First NFT-Focused ETF Goes to Market

Defiance has launched the first exchange traded fund focused on NFTs. The Defiance Digital Revolution ETF (NFTZ) does not directly hold non-fungible tokens, but seeks to provide thematic exposure to the NFT, blockchain and cryptocurrency markets.

The fund has a management fee of 65 basis points, and invests in NFT- and blockchain-related companies, such as Silvergate Capital Corp., Cloudfare, Bitfarms and Coinbase, among others.

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Cerity Partners Merges With $5B San Francisco RIA

RIA consolidator Cerity Partners has acquired Bingham, Osborn & Scarborough, a $5 billion registered investment advisory firm in San Francisco, a move that expands Cerity’s West Coast footprint and brings its total client assets to more than $40 billion under advisement.

The B|O|S team, led by CEO Kevin Dorwin and President and Chief Operating Officer Carol Benz, will become part of Cerity. The RIA has also reorganized its leadership structure as a result, naming Benz its chief people officer, a new role designed to oversee the recruitment, development, education, engagement, diversity and growth of Cerity’s people and culture. B|O|S principal David Newson will become chief marketing officer of Cerity. Dorwin will become Cerity’s San Francisco market leader.

Related: RIA Edge: Updating Growth Strategies for RIAs With Cerity Partners’ Claire O’Keefe

B|O|S was founded in 1985 and serves high-net-worth individuals and families in the Bay Area, providing comprehensive financial planning, investment management, and trust and estate planning.

“The merger allows us to enhance our clients’ experience and broaden the breadth and depth of our expertise,” said Cerity Partners CEO and President Kurt Miscinski, in a statement. “It also significantly deepens our presence in and commitment to San Francisco and Silicon Valley, a region that continues to create meaningful wealth for many individuals and families.”

Related: Mindy Diamond on Independence: The Catalysts Behind the Growth of Mega-Firm Cerity Partners

Cerity, which was founded in 2009, is backed by private equity firm Lightyear Capital, which bought a 50{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} stake in the consolidator in 2018 from Emigrant Bank. Cerity has been slowly amassing a sizeable talent pool.

In 2020, it acquired $5 billion in assets under management from four acquisitions. In January 2020, it acquired Los Angeles RIA Sullivan & Serqitz and Chicago-based EMM Wealth. In  December, Cerity announced it had added two firms, Algonquin Advisors in Greenwich, Conn. and Worldview Wealth Advisors in San Francisco that pushed its assets up to $27 billion.

Earlier this year, Cerity announced its acquisition of Bainco International Investors, a Boston asset manager and wealth planning firm with $1.1 billion in assets under management.

In a recent RIA Edge podcast, Claire O’Keefe, partner and head of corporate development at Cerity, reveals how the firm was able to become one of the top RIAs for individuals, businesses and nonprofits, and how they have fostered long-term, sustainable growth for their business.