Perigon Wealth Management (a rapidly growing independent wealth management firm with offices across the country and approximately $6.9 billion as of January 31, 2024 in client assets) announced the acquisition of Prudeo Partners (a wealth management firm with offices in Reading, Pennsylvania and West Columbia, South Carolina with approximately $425 million in total client assets). The terms of the deal were undisclosed.
Prudeo Partners Michael Krumholz and Andrew Todd, CFP join Perigon as Partner and Wealth Advisor, respectively. And Financial Advisors Sheila Little and Manuel Villegas, ChFC, FSCP will also join the firm. The team includes Client Relationship Manager Sally McFarland, Operations Manager Jennifer Shroyer, Operations Specialist Sara Smith and Research Assistant Josh Krumholz.
Perigon (an advisor-led firm) has added teams and offices across six major markets since December 2021, including New England and the San Francisco Bay Area. The firm recently announced it received a minority investment from Constellation Wealth Capital to enhance its strategic expansion. And in September 2022, the firm announced a merger with PM Wealth Management and formed a strategic alliance with Prager Metis tax advisory firm. In November of that year, Perigon announced it acquired Nauset Wealth Management and expanded its Atlanta office.
Perigon estimates about $425 million will be added to its AUM upon the close of this acquisition.
KEY QUOTES:
“Prudeo’s practice is built upon delivering a client-centric, goal-oriented financial plan and that is a perfect fit for the culture we continue to build at Perigon. We are thrilled to work closely with the team as they drive meaningful growth for their practice by delivering for their clients.”
- Arthur Ambarik, Perigon’s CEO
“As we considered the best path to fuel our growth, we found a perfect partner in Art and the Perigon team. From their dedication to customized financial planning to flexible affiliation options and access to a wide range of investment and technology solutions, we knew early in our discussion that Perigon would provide our team, and importantly our clients, with what we needed for the next phase of our growth.”
- Michael Krumholz
“The strong and well-defined culture at Perigon that puts advisors in charge of decisions throughout the business gives us the confidence that our decisions regarding how we deliver services that enable each of our clients to reach their unique financial goals will be respected.”
- Andrew Todd
