Credent Wealth Mgmt Merges with $630M RIA Firm – Financial Advisor IQ

Credent Wealth Management says it has merged with another wealth management practice to form a firm with $1.8 billion in client assets.

The latest addition is Personal Wealth Partners, a firm founded in 2014 by Daniel Steichen, according to Credent.

As part of the deal, Steichen is merging his Bloomington, Minnesota, and River Falls, Wisconsin, offices, Credent says.

Personal Wealth Partners had around $631 million in client assets in 1,867 accounts, according to its Form ADV filed on February 1.

The combined entity will operate under the Credent name, the company says.

“Credent presented me with multiple options for either merger or acquisition, depending on what I wanted for the next stage of my business cycle and career,” Steichen said in the announcement. “While acquisition would have given me the freedom to focus solely on servicing my existing clients, I wanted to keep building the business that I started. Merging with Credent gives me the additional resources and control I need to make that happen.”

Credent didn’t disclose the financial terms of the deal.

The addition of Personal Wealth Partners brings the total number of Credent’s offices to six, the company says.

Source: https://financialadvisoriq.com/c/3713654/475644/credent_wealth_mgmt_merges_with_firm