Acquisition: Non-Profit Organization (NFP) to Acquire Marin Financial Advisors
NFP and Wealthspire Advisors Announce Significant Moves in Financial Services
In a series of strategic moves, NFP, a subsidiary of Aon, and Wealthspire Advisors have made announcements that are set to reshape the financial services landscape.
NFP has announced the sale of a significant majority of NFP's wealth business, which includes Wealthspire Advisors, Fiducient Advisors, Newport Private Wealth, and related entities. This move is part of NFP's strategic focus on its core insurance business.
On the other hand, Wealthspire Advisors, an independent registered investment advisor with $31 billion in Assets Under Management (AUM), has made a strategic acquisition. The firm has agreed to acquire Marin Financial Advisors, a boutique RIA based in Larkspur, California, with over $380 million in assets under management.
Marin Financial Advisors, led by Principal Colin Drake, has provided personalized financial guidance since 1987. Through the transaction, Marin clients will gain access to expanded resources and expertise in trust and estate planning, tax and insurance guidance, and investment research. Drake will continue serving clients alongside Client Service Director Christine Cione, ensuring a seamless transition with the same people, service, and philosophy.
The acquisition of Marin Financial Advisors strengthens Wealthspire's presence in the Northern California market and builds upon existing relationships with the Marin Financial Advisors team.
In a related development, Wealthspire Advisors LLC has also announced the acquisition of Levine Group, LLC. Based in Brentwood, TN, Levine Group has been serving Nashville for an unspecified duration. This acquisition provides NFP with additional resources and expertise in the financial services sector.
Meanwhile, NFP's acquisition of Resolute Insurance Services, an independent insurance broker based in the West Midlands, accelerates NFP's growth in the insurance industry. This move expands NFP's commercial insurance product offerings.
The acquisition of Resolute Insurance Services reflects Wealthspire's broader strategy to partner with advisors who lead with empathy, guide their clients through all life stages, and bring deep care to every relationship.
Colin Drake decided to join Wealthspire following the passing of Dave Shore, his business partner and founder of Marin Financial Advisors. Drake's values align closely with those of Wealthspire, bringing a relationship-driven mindset and deep sense of client loyalty.
Mike LaMena, CEO of Wealthspire Advisors, stated, "We are excited to welcome Colin, Christine, and the entire Marin Financial Advisors team to Wealthspire. Their commitment to delivering exceptional client service aligns perfectly with our mission to help families and institutions achieve their financial goals."
The deal also includes ongoing educational opportunities, including webinars, quarterly updates, and in-person events, further strengthening Wealthspire's position as a leading provider of financial advice and services.
The Marin Financial Advisors in Larkspur, California, was acquired by Facet Wealth at the beginning of 2023. With these acquisitions, both NFP and Wealthspire Advisors are poised for continued growth and success in the financial services sector.
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