US-based registered investment adviser (RIA) Lido Advisors has acquired Enterprise Trust & Investment Company (ETIC) in a strategic deal to further bolster its wealth management platform.

Financial terms of the deal were not disclosed. It is expected to close in the third quarter of this year, subject to regulatory approvals.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Founded in 1995 California-based ETIC offers private trustee services and investment management to high-net-worth (HNW) individuals and families, local foundations, and endowments.

The firm is said to manage around $800m in assets.   

The addition of ETIC is expected to Lido to enhance its wealth planning process which is designed to help clients grow, protect, and maximise their wealth.

Lido CEO Jason Ozur said: “Our partnership with ETIC further solidifies that commitment by enabling personal trust services for all of our clients. We are incredibly impressed by ETIC and their management team, and the potential value they can bring to our platform and clients is truly exciting.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Commenting on the deal, ETIC president and CEO Marc Rebboah added: “The core of ETIC’s vision has always been to provide our clients with an unparalleled level of personalized attention and act in their sole best interest to protect their assets.

“Lido shares our vision and commitment to excellence, while bringing significant resources and highly complementary expertise. We look forward to a long and successful partnership.”

Alston & Bird provided legal counsel to Lido Advisors. Piper Sandler offered exclusive financial advisor to ETIC while Manatt, Phelps & Phillips served as its legal counsel.

Last year, Lido Advisors made a strategic minority investment in middle-market private investment firm Charlesbank Capital Partners.