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Marin County wealth company Personal Ocean gotten by Wealthspire Advisors of New York City


May 6, 2022
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A New York-based financial investment and insurance coverage brokerage company has gotten Personal Ocean, a wealth management business in San Rafael.

Wealthspire Advisors closed on the purchase in December. That brought its level of properties as much as $17 billion and workplaces to 18 areas. The company has actually decreased to offer the monetary information of the purchase on the Marin County, which had $2.7 billion under management.

” This is a great chance for Wealthspire,” Wealthspire CEO Mike LaMena stated in a declaration released in November, including that Personal Ocean represents “a natural fit” for his company. “This is a considerable chance to plant a flag on the West Coast and show our growing nationwide scope.”

LaMena was not available for remark Friday.

Reached by phone on Thursday, Private Ocean CEO and creator Greg Friedman concurred the merger works as an excellent fit. Friedman, who now holds a title of chief method officer, described to business Journal that the acquisition totals up to more about the growth of resources for Personal Ocean customers than his own succession strategy at age 61.

” It is amazing to partner with a vibrant business like Wealthspire,” Friedman stated previously in a declaration. “We both share the greatest fiduciary requirements and approach on customer service. This is an essential action for both of our companies in an environment where scale and quality matter.”

This deal begins the heels of Wealthspire’s current contract to obtain Private Capital Group, a $1 billion business based in West Hartford, Connecticut.

Personal Ocean formed in 2009 with the mix of 2 of the earliest independently held wealth management companies in the San Francisco Bay location: Significant Wealth Management and Friedman & & Associates.

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