Financial Gravity subsidiary Forta Financial is set to combine with Vestus Group and its affiliate NCW Group, both located in Carmel, California.
The deal, whose financial terms are unknown, will ramp up Forta’s revenue and AUM, apart from bringing additional expertise in systems and infrastructure.
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Financial Gravity chairman and CEO Scott Winters said: “The major gain for Financial Gravity in this transaction is the significant deepening of our bench strength with the two top talents, Mark Williams and Bryce Hamilton.”
Williams will join Financial Gravity as EVP of operations and will help to document, systematise, and automate all company processes.
Hamilton will assume the role of distribution EVP and oversee the development of internal channels of distribution across all of the Financial Gravity companies.
Both Williams and Hamilton have experience in wealth management and investing, tax planning, estate planning, insurance, employee benefits and business consulting.
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By GlobalDataWinters added: “I am positive that Mark and Bryce will be fantastic members of the Financial Gravity family and work tirelessly towards helping promote our culture of excellence.”
Hamilton said: “Mark and I could not be more thrilled about joining an elite executive team for this next chapter in our careers. We believe we are joining a best in class firm that our clients are going to benefit from greatly. No other financial services firm can offer the ‘Fractional Family Office’ platform. Financial Gravity is able to provide the next generation of financial planning that every serious investor is in need.”
Financial Gravity owns bread stock brokerage, investment advisory, asset management, tax planning for business and personal, and financial advisor services companies.
Recent developments in US wealth management space
Last week, JP Morgan Wealth Management divulged plans to hire over 100 financial advisers in the Phoenix metro area by 2022.
The same week, Cetera acquired Philadelphia-based financial services firm MAGIS Financial Partners, which manages over $490m in assets, for an unknown sum.
Earlier this month, Merchant Investment Management purchased a minority stake in boutique wealth planning firm Axiom Financial Strategies Group.
