Wealthspire Advisors, an NFP company and independent investment adviser, announced it has acquired Private Capital Group, LLC, a leading wealth management firm, offering comprehensive wealth management and retirement planning services.
Founded in 2003 and based in West Hartford, CT, Private Capital Group currently manages assets totaling approximately $1 billion. The transaction closed on November 12, 2021, after meeting customary approvals and closing conditions.
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Wealthspire Advisors currently oversees approximately $17 billion in assets under management (AUM) and has 18 offices across the country.
“Private Capital Group has a talented team providing clients with comprehensive financial planning, robust wealth management solutions, and passionate client service,” said Wealthspire CEO Mike LaMena. “They are a natural cultural fit, and I am confident combining their accomplished team with Wealthspire’s deep investment platform, robust technology, and middle/back-office support structure will enhance value for Private Capital Group’s clients. We are excited to expand our presence in Connecticut while continuing to look for opportunities to grow our wealth management platform with top quality firms throughout the United States.”
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“Being part of Wealthspire will bring additional value to our clients and expand opportunities for our valued associates,” said Ben Kille, founder and managing member of Private Capital Group. “Private Capital Group was founded with a ‘Serve First’ philosophy, so we are looking forward to fully integrating with Wealthspire and becoming part of a dynamic firm that shares our passion for client service and deep fiduciary commitment.”
Private Capital Group was represented by DeVoe & Company, a leading investment bank and consultant to RIAs.
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