Kingswood U.S., part of a network of independent wealth management firms that oversees more than $15 billion in client assets globally, announced the acquisition of Nashville, Tennessee-based Eudaimonia Partners and Eudaimonia Advisors. It also entered a strategic alliance with Eudaimonia Asset Management, a turnkey asset management-based RIA. The three RIAs under the Eudaimonia Group collectively represent more than $1 billion in total client assets.
Eudaimonia Founder and President John Goodson will continue leading his team of 17 advisors and support the robust Kingswood U.S. as president of his group. And the 36-year industry veteran will maintain his $100 million book of business. In this executive role, he will report to Michael Nessim, CEO, President, and Managing Partner of Kingswood U.S.
Goodson will help lead growth efforts nationwide and recruit like-minded advisors and consulting on potential M&A-based expansion in this space. And he will serve as the head of Kingswood’s Nashville office, located at 818 18th Avenue South.
Kingswood U.S. and Eudaimonia have long-standing custodial relationships with Raymond James and Charles Schwab, which will enable a seamless transition for Eudaimonia’s advisors and clients, limiting significant repapering requirements.
Scott Poore, who heads Eudaimonia Asset Management, will continue to oversee its operations. Kingswood U.S. will serve as a strategic partner to the TAMP and Kingswood U.S.-affiliated advisors can now utilize the TAMP as part of their client offerings.
KEY QUOTES:
“As the wealth management industry continues to evolve, it is critical for a firm of our size to seek additional scale and exceptional talent to ensure we are positioned to succeed in the future. John, Scott and the entire Eudaimonia team are the right partners for Kingswood U.S. Their expertise in growing advisory businesses, coupled with their experience in running an exceptional TAMP, make them the perfect fit for our growing business.”
- Michael Nessim, CEO, President, and Managing Partner of Kingswood U.S.
“Our goal has always been to enhance the lives of everyone we touch, and our strategic partnership with Kingswood U.S. is a critical component of our continued success. Over the past several years, we have explored several partnerships that would provide us with meaningful back- and middle-office support and allow us to grow while maintaining our deeply held values. After working with Mike and the Kingswood leadership team, it became clear that Kingswood was the right choice for our firm to achieve our goals and keep our commitment to always put the advisor first in our decisions.”
- Eudaimonia Founder and President John Goodson
“Working with Eudaimonia and expanding our presence in the increasingly important southern market positions Kingswood U.S. for additional large-scale acquisitions. I look forward to working closely with John and the rest of the Kingswood team to capitalize on our opportunities across the country.”
- Jamie Golden, Kingswood U.S. head of acquisitions who leads M&A-based growth nationally and will partner with Goodson in Nashville
