FWM Holdings, the parent company of Forbes Family Trust and LGL Partners, has reached an agreement to acquire investment advisor AM Global Family Investment Office.
The financial and legal terms of the agreement were not disclosed.
Established in 2012, AM Global is engaged in offering investment advice and solutions to wealthy individuals and families.
The acquisition is expected to bolster Forbes Family Trust’s footprint in the US.
Once the deal is completed, AM Global co-founder Andrew Mehalko will join Forbes Family Trust as its co-chief investment officer.
Forbes Family Trust founding partner and CEO Keith Bloomfield said: “Forbes Family Trust and AM Global share the same dedication to creating investment and planning solutions for the most sophisticated ultra-affluent families.
“This combination will allow us to better serve our Florida-based high-net worth clients and continue to enhance our comprehensive global investment solutions.”
Mehalko said: “We have seen significant demand for our investment advice and services, and this partnership will allow us to leverage expanded investment opportunities, broader expertise and an enhanced service offering for our clients.
“We look forward to working alongside Keith and the Forbes Family Trust team.”
The acquisition, subject to customary closing conditions, is expected to close by the end of this year.
Based in New York and Philadelphia, Forbes Family Trust specialises in alternative investments, asset allocation, portfolio construction and financial planning.
As of 30 September 2018, Forbes Family Trust and its affiliates managed nearly $4.5bn in assets under advisement.