US-based registered investment adviser (RIA) Stratos Wealth Partners has raised its minority equity stake in San Diego-based BWM Financial as part of a strategic investment in the firm.
Stratos, which first invested in BWM in May 2020, raised its holding in the firm to 33% with the latest investment.
Financial terms of the transaction were not disclosed.
Founded by Jeff Brown, BWM caters to high-net-worth (HNW) clients, including high-performing business professionals and founders.
The firm, which manages $1.5bn in advisory assets under management (AUM), specialises in intentions-driven financial planning.
Last year, it acquired Stratos-affiliated wealth management firm Truuwater Financial in San Diego, expanding its staff headcount to 14.
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Commenting on the expanded partnership, Brown said: “Following the strategic investment in 2020, BWM Financial’s partnership with Stratos ultimately shattered all expectations and provided our team not only with the tools and solutions we needed on executive leadership and M&A fronts, but a true partner with shared values and goals.”
Stratos Wealth Holdings COO and Stratos Wealth Enterprises president Lou Camacho said: “After making a strategic investment in BWM Financial two years ago, Stratos is excited to take our exclusive partnership with this exceptional firm to the next level, bringing our stake to 33%.
“This further investment allows us to accelerate growth in a firm that has reported some of the strongest results within our network.”
In September 2020, Investment banker Peter Nesvold’s new merchant bank picked a minority stake in Stratos Wealth Holdings. It followed the Emigrant Partners’ acquisition of a minority stake in the firm in April that year.