Capital Insight Partners, a Scottsdale, Arizona-based multi-asset class portfolio manager serving HNW families, corporate retirement plans and institutions, has taken over local investment advisory firm Foothills Asset Management.
Financial terms of the transaction were not revealed.
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The consolidated business will adopt the Capital Insight Partners brand.
The two parties involved are said to have similar philosophies on client service and investment strategy.
The combination of the two businesses is the result of around 18 months of due diligence and talks.
Capital Insight CEO Steve Nelson calls the deal a “tremendous fit”.
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By GlobalDataNelson stated: “We looked at how well the two firms align, from our approach to individual security analysis to our cultures of providing thoughtful, candid advice.”
Foothills focuses on stock and bond portfolio management capabilities.
As part of the firm, Foothills president Keith Wibel and research analyst Gwen Boyd will gain seats on the Capital Insight investment committee.
Capital Insight will also absorb all client services staff of Foothills.
Wibel stated: “When we reached the decision to bring the two firms together, we tasked Advisor Growth Strategies with evaluating Capital Insight Partners and more than 20 other investment firms,”
“This deliberately thorough process ratified our choice to merge with Capital Insight.”
The latest deal marks Capital Insight’s second one in 12 years.
In 2016, the firm snapped up Sequoia Financial Advisors.
