The latest deals and transactions in and around North American wealth management.

Wealthspire Advisors, Lenox Wealth Advisors, NFP
New York-based Wealthspire Advisors has integrated Lenox Wealth Advisors into its independent investment advisory platform. 

Wealthspire is part of US insurance broker and consultant NFP, as is LWA.

“By combining firms under the NFP umbrella, LWA and Wealthspire create significant advantages that benefit both our clients and our people,” Wealthspire chief executive Mike LaMena said. “Size and scale are important. Coming together allows us to invest in the technology and talent we need to expand the capabilities and services we deliver.”

The move follows Wealthspire’s agreements to acquire Private Ocean Wealth Management, a $2.7 billion registered investment advisor based in San Rafael, California and Private Capital Group, a $1 billion RIA based in West Hartford, Connecticut. After these transactions are complete, Wealthspire expects to be overseeing assets of about $20 billion and have 20 offices across the country, it said in a statement yesterday.

Founded in 2011, LWA has been part of NFP since its inception. LWA develops and carries out financial plans and builds custom investment portfolios for individuals, families, trusts, and non-profit organizations.