Lido Advisors, a US-based wealth management company, has completed a previously announced deal that involved acquiring Enterprise Trust & Investment Company (ETIC).

Financial details of the deal, which was announced in June this year, were not divulged.

Headquartered in California, US, ETIC offers private trustee services and investment management to high-net-worth individuals and families. The company also serves homegrown foundations and endowments.

ETIC had around $800m in assets under management.

The latest deal will enable Lido to bolster its complete wealth planning system, which seeks to increase customers’ wealth by offering personal trust solutions.

Lido Advisors CEO Jason Ozur said: “Leveraging the expertise of a veteran trust team strongly positions Lido in its efforts to maximise and protect our clients’ wealth.”

ETIC president and CEO Marc Rebboah said: “ETIC shares the same vision as Lido, which is to act in the best interest of our clients, always.

“Since the beginning, ETIC has been focused on delivering quality investment management and services with individualised attention.”

Headquartered in Los Angeles, California, Lido Advisors has more than $11bn in assets under management. It has 27 offices across the US.

In May last year, Lido Advisors forged a strategic alliance with Charlesbank Capital Partners, a middle-market private investment company.

The collaboration has enabled Charlesbank to become a significant investor in Lido, among others.