Merchant Investment Management has purchased a minority stake in boutique wealth planning firm Axiom Financial Strategies Group.
Axiom provides wealth management, personalised financial planning, and transition and succession strategies to individuals, families, family enterprises and entrepreneurs.
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Financial terms of the transaction have not been made public.
Merchant’s minority equity investment will support Axiom’s ongoing initiatives to enhance the client experience and financial planning process to meet the evolving needs of the businesses and families.
Merchant managing partner Tim Bello said: “Axiom has a clear vision of its future and understands that change and growth go hand in hand.
“This injection of durable capital will preserve Axiom’s independence and allow its innovative and unique solutions to take root.”
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By GlobalDataThe acquisition is expected to help Axiom ramp up the growth of its wealth planning process by roping in new team members.
Axiom Financial Strategies Group CEO Vaughan Scott added: “We sought a true partner who could work alongside us as we take our client experience to the next level, and Merchant does just that.
“Their industry expertise and growing network of partner firms give us access to an incredibly robust environment. The Merchant community and capital set the stage for our future growth.”
Recent deals by Merchant
Last Week, Merchant acquired a minority stake in independent financial advisory firm Signet Financial.
It followed several investments made by the New York-based firm in the last year.
In December last year, the company invested in Miracle Mile Advisors, a Los Angeles-based independent investment advisory business, to support the latter’s growth plans.
Other deals include the company’s purchase of a minority equity stake in Massachusetts-based independent wealth advisory business Baldwin Brothers and a minority, non-controlling stake in California-based wealth advisory firm Corient Capital Partners.
In the beginning of last year, Merchant wrapped up the acquisition of a minority stake in the Wealth Advisor Growth Network.
