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December 22, 2016updated 04 Apr 2017 1:20pm

IHT Wealth Management to merge with US Wealth Management

Chicago-based IHT Wealth Management has signed an agreement to merge with US Wealth Management, an independent network of wealth managers.

By Verdict Staff

Chicago-based IHT Wealth Management has signed an agreement to merge with US Wealth Management, an independent network of wealth managers.

Free Report
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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The combined firm will have nearly $2bn in combined brokerage and advisory assets and will offer advisors and their clients a range of financial planning capabilities.

Additionally, US Wealth Management has appointed IHT founder and president Steven Dudash as executive vice president of recruiting and strategic development.

Dudash will be responsible to share best practices on advisor recruiting and practice acquisitions, and will focus on solutions tailored to help advisory firms build strong succession strategies.

IHT Wealth Management said that it will acquire the equity of US Wealth Management in stages, which will allow both company’s advisors and their clients to seamlessly transition to the combined company structure.

Currently, IHT has 28 advisors in its network, while the US Wealth Management network has 30 advisors.

Commenting on the merger, Dudash said, "The next several years will be a time of profound change for independent financial advisors. Evolving client expectations, industry consolidation and regulatory shifts such as the Department of Labor's new fiduciary rule – among other factors – are expected to converge to create a difficult environment for firms that lack a critical mass of resources or the broad capabilities to serve the full range of clients' needs.

“By combining our scale and expertise in helping advisors achieve their business and succession goals, our combined firm will offer the resources, flexibility and management insight to meet the challenges that lie ahead for independent advisors and their clients."

US Wealth Management chairman and CEO John Napolitano said: "While our firms currently manage over $2 billion in client assets, we are very much aware that the key factor that will differentiate firms in the years ahead will not be assets, but the ability to provide customized, thoughtful and comprehensive advice to meet the full spectrum of clients' needs.

“The partnership and transitional plan we have announced today is evidence that we practice what we preach. This combination puts a stake in the ground stating that the USWM / IHT partnership is poised to help advisors elevate the service they provide to clients, and to offer business development and succession strategies that work.

"Looking further down the road, I could not have found a better successor to take the reins at US Wealth Management when the time comes than Steven Dudash. Steve is 20 years younger than I am, and has built a team that demonstrates a unique gift for understanding the specific needs of each advisor and developing solutions to help them thrive," Napolitano added.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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