Wealthspire Advisors, the New York City-headquartered investment advisory firm, is set to extend its reach into the American Midwest with a substantial acquisition.
The firm announced Wednesday that it has entered into a definitive agreement to acquire Walden Wealth Partners, an all-woman registered investment advisory firm based in Beachwood, Ohio.
Walden Wealth Partners was founded by Karin Maloney Stifler and Sarah Hannibal, both of whom have decades of experience serving multigenerational clients.
The acquisition will bring approximately $420 million in assets under management to Wealthspire and further expand its Midwest presence with a new location in the Cleveland metropolitan area.
“We’re delighted to welcome Walden Wealth Partners to Wealthspire,” said Mike LaMena, chief executive of Wealthspire Advisors, said in a statement.
“Karin and Sarah bring exceptional leadership experience serving their clients and have nurtured a team that truly represents the future of our industry,” LaMena said, underlining their firms’ shared “mission, values, and commitment to act as fiduciaries.”
Founded in 2015, Walden Wealth Partners specializes in comprehensive financial advisory and investment management services tailored for individuals and families. The firm also provides financial planning and fiduciary consulting for retirement plan sponsors, trustees, and charitable entities.
“Walden Wealth Partners has thrived on providing comprehensive financial care to its clients that considers every aspect of their lives and future goals,” said Stifler, who has nearly two decades of industry experience. “Partnering with Wealthspire will enable us to continue what we’ve started.”
Hannibal highlighted the opportunity from the acquisition, as it provides “access to significant resources, pioneering technology, robust analytical capabilities, and a dedicated team of experts and thought leaders.”
With more than $25.8 billion in reported assets under management, Wealthspire Advisors is backed by NFP, a leading property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor.
Wealthspire’s plan to acquire Walden Wealth Partners would mark its first transaction of the year. In 2023, it announced a grand total of three acquisitions, the last one being its monster deal for GM Advisory Group Inc., an RIA with roughly $6 billion in assets.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
