Adviser Investments has acquired Braver Wealth Management and its Braver Capital Management division, creating a USD4.7 billion wealth management company.
The combined firm will retain the Adviser Investments name and add Braver’s institutional expertise in financial planning services and tactical strategies to Adviser Investments’ experience building investment portfolios.
“This merger allows us to leverage each firm’s talents and resources to advance our mission of providing institutional-quality asset management to a wide range of individual clients,” says Adviser Investments president Dan Silver. “Braver has an advanced financial planning expertise at its core, and will help us enrich our personal understanding of clients’ individual investment goals and more fully cater to their wealth management needs.”
With this acquisition, Adviser Investments’ 80 employees now manage USD4.7 billion for more than 3,000 clients nationwide.
Adviser Investments’ chairman, CEO and co-founder Dan Wiener and chief investment officer Jim Lowell will be joined by Braver president David D’Amico and chief investment officer Andrew Griesinger to oversee investment decisions and strategy.
“This opportunity allows us to add a great deal of investment and financial planning talent to our already deep bench of research and portfolio management professionals,” Wiener says. “Adviser Investments is truly building upon its capabilities to serve a wide range of clients, large and small.”
The acquisition was engineered in 2016 during a banner year for Adviser Investments. In November, the firm received Fidelity’s Be Greater Award, recognising registered investment advisers who are evolving their businesses to meet ever-changing demands of a growing and sophisticated investor class. Fidelity singled out Adviser Investments among all RIAs with more than USD1 billion in total assets under management that use its custodian and record-keeping services.
“Adviser Investments ranks as one of the largest independent advisers in the country,” Silver says. “But we continue to offer the same personalised service we did when we were a fraction of the size, and the addition of the Braver team further augments and expands our ability to do so for generations to come.”