The $12 billion Georgia-based agency Advantage Monetary Advisors is buying Roth Asset Administration, a $773 million agency based mostly out of Lake Oswego, Ore., bolstering Advantage’s Pacific Northwest presence.
President Steven B. Roth will come on board Advantage as a wealth supervisor and stated that Advantage’s “team-based, collaborative method” stood out when he was scouting for potential acquirers. Roth Asset Administration focuses on funding recommendation, company 401(ok) plans and portfolio administration.
It’s Advantage’s newest transfer to broaden into the area. The agency has a number of places close to Seattle and Tacoma in Washington and one other in Idaho; Roth will affiliate with the agency’s workplace in Issaquah, Wash.
In March, the agency acquired Viren & Associates, a $542 million agency beforehand affiliated with Mariner. It’s based mostly in Spokane, Wash., and was Advantage’s first workplace within the jap a part of the state. Earlier in December, the agency acquired the $603 million Trinity Monetary Companions, a Berwyn, Penn.-based agency that turned Advantage’s third workplace within the Keystone State.
The Roth deal is Advantage’s thirtieth since non-public fairness agency Wealth Companions Capital Group took a minority stake within the agency in December 2020, partnering with a number of strategic buyers led by HGGC’s Aspire Holdings platform. The agency relies in Atlanta, has greater than 40 workplaces nationwide and manages roughly $11.84 million as of the top of June.
In late July, Advantage Monetary disaffiliated from LPL and later moved its enterprise to Purshe Kaplan Sterling Investments.
The transfer got here after an LPL July earnings name wherein then-LPL CEO Dan Arnold stated a number of workplace of supervisory jurisdiction corporations have been “strategically misaligned” with the agency’s mission and mannequin. WealthManagement.com reported earlier this month that Wealth Enhancement Group was the opposite of those corporations.
