Wealthspire expects to oversee assets under management of approximately $20 billion by the end of Q1 2022
NEW YORK, Jan. 24, 2022 /PRNewswire-PRWeb/ — NFP, a leading insurance broker and consultant that provides property and casualty, corporate benefits, retirement, and individual solutions, today announced the integration of Lenox Wealth Advisors (LWA), a wealth management firm, with Wealthspire Advisors, a national independent investment advisory platform. Both Wealthspire and LWA are subsidiary companies of NFP.
“This combination of two exceptional organizations with shared values and purpose is a first step in delivering a new level of expertise and service to clients,” said Mike James, executive vice president, Head of Individual Solutions at NFP.
The combination expands Wealthspire’s Northeast, West Coast, and Midwest market share and comes on the heels of Wealthspire’s recent agreements to acquire Private Ocean Wealth Management, a $2.7 billion RIA based in San Rafael, California and Private Capital Group, a $1 billion RIA based in West Hartford, Connecticut. Once these transactions are complete, Wealthspire expects to oversee assets of approximately $20 billion with 20 offices across the country.
“By combining firms under the NFP umbrella, LWA and Wealthspire create significant advantages that benefit our clients and people,” said Wealthspire CEO Mike LaMena. “Size and scale are important. Coming together allows us to invest in the technology and talent we need and expand the capabilities and services we deliver.”
Founded in 2011, LWA has been part of NFP since its inception. LWA is known for developing and executing sophisticated financial plans and building custom investment portfolios for individuals, families, trusts and nonprofit organizations.
Said Richard Van Benschoten, CEO of Lenox Wealth Advisors, “It’s important for our clients to know that we always strive to provide them with more choices, a deeper investment team, and improvements across processes and technology. We very much remain part of the NFP family, and the expansion of access to resources and expertise puts us in a better position to meet clients’ needs with the right solutions and experience.”
About Wealthspire Advisors
Wealthspire Advisors is an independent registered investment advisor with 17 offices in 10 states throughout the Northeast, Mid-Atlantic, Midwest, and West Coast. We are fiduciary advisors who value connecting all parts of a client’s financial life to deliver thoughtful, collaborative strategies that optimize their finances and fulfill their aspirations. Wealthspire Advisors acts as a wealth manager, investment advisor, consultant, and constant …….