Bogart Wealth, an independent wealth management and Registered Investment Advisory firm, announced that it has closed on a minority, long-duration investment from Constellation Wealth Capital (CWC). This long-term strategic investor provides capital solutions exclusively to wealth management businesses and multi-family offices. This minority investment in Bogart Wealth will be used to further enhance the firm’s client services, technology solutions, recruitment initiatives, marketing activities, and more. And Bogart Wealth remains a proudly independent registered investment adviser (RIA), with employees being the overwhelming majority owners of the business.
Bogart Wealth saw rapid organic growth in recent years, more than quadrupling assets under management (AUM) in the past 5 years while providing a high level of service to clients, including comprehensive financial planning and wealth management services. And the firm now sits at about $3 billion in assets under advisement (AUA), including $2.7 billion AUM.
Bogart Wealth also hired 30 new staff members during that time period, growing the team with competent, credentialed professionals to serve their growing client base. And this growth has been aided by the launch of the firm’s Advisor Growth Track (AGT), a professional growth and training program designed to help new and experienced talent thrive and grow under the mentorship of a fast-growing RIA firm in a collaborative, high-achieving environment.
Advisor Growth Strategies, an M&A advisory and management consulting firm for RIAs, served as transaction advisor for Bogart Wealth, and Troutman Pepper Locke served as counsel.
KEY QUOTES:
“We’re very excited to welcome Constellation Wealth Capital as partners in our mission to help clients achieve financial peace of mind by preserving and maximizing intergenerational wealth. The CWC team brings significant experience to our organization that will serve our team well and demonstrates our deep commitment to our clients and their families. This investment serves as a strong validator of our firm’s mission, vision, marketplace position, and growth trajectory.”
-James Bogart, CFP, ChFC, founder and CEO of Bogart Wealth
“We are thrilled to invest in a firm that has been on a path of rapid organic growth and is so committed to client success. We share Bogart Wealth’s mission and vision and are committed to investing in the firm for the long-term benefit of client families.”
– Karl Heckenberg, President and Managing Partner of Constellation Wealth Capital
