myCIO Wealth Partners announced the sale of an advisory team to Clearstead Advisors. The deal closed on June 30, 2026. Financial terms of the transaction were not disclosed.
myCIO is one of Philadelphia’s largest independent registered investment advisors.
Clearstead Advisors is headquartered in Cleveland and is majority-owned by Chicago-based private equity firm Flexpoint Ford.
myCIO oversees approximately $15.8 billion in regulatory assets under management as of December 31, 2025.
The departing advisory team managed approximately $2.6 billion in regulatory assets under management, based on the most recent Form ADV filing.
myCIO said the sale allows the firm to focus its resources on its core business and future growth plans.
myCIO provides financial advisory and consulting services to individuals, families, endowments, defined contribution plans, defined benefit plans, and trusts.
The firm was formerly Ernst & Young’s Philadelphia Investment Advisory Practice.
myCIO serves as chief investment officer for many of its clients and has specialized expertise in alternative investments and fiduciary liability.
The firm provides financial counseling services to more than 50 current and former chairmen, CEOs, and presidents of S&P 500 and Fortune 500 companies.
myCIO Wealth Partners was formed after Ernst & Young exited investment advisory and wealth advisory services as of July 1, 2005, following Sarbanes-Oxley.
KEY QUOTES:
“This is a great transaction for myCIO, and we wish the departing team success with their new firm. The team was not a strategic fit with our existing business or future growth plans.”
David Lees, Senior Partner of myCIO
“This is a win for our firm. The sale allows us to focus our resources on our core business, creating greater value for our clients and our team.”
Adrian Verueco, Partner and Chief Financial Officer of myCIO
