Money management firm Adviser Investments has purchased Braver Wealth Management and its capital management division for an undisclosed amount.
Braver Wealth Management offers investment management and financial planning services to HNW individuals, families, trusts and foundations. The company's capital management division offers asset management services, separate accounts and tactical trading signals to HNW and institutional clients.
Go deeper with GlobalData
Under the agreement, Braver Wealth Management will merge with Adviser Investments, creating a $4.7bn wealth management company with 80 employees and more than 3,000 customers.
The combined entity will retain Adviser Investments name.
Additionally, Braver president David D’Amico and chief investment officer Andrew Griesinger will join Adviser Investments chairman, CEO and co-founder Dan Wiener and chief investment officer Jim Lowell to oversee investment decisions and strategy.
Adviser Investments president Dan Silver said: “This merger allows us to leverage each firm’s talents and resources to advance our mission of providing institutional-quality asset management to a wide range of individual clients. Braver has an advanced financial planning expertise at its core, and will help us enrich our personal understanding of clients’ individual investment goals and more fully cater to their wealth management needs.”
Commenting on the acquisition, Wiener said: “This opportunity allows us to add a great deal of investment and financial planning talent to our already deep bench of research and portfolio management professionals. Adviser Investments is truly building upon its capabilities to serve a wide range of clients, large and small.”
