Wealth management firm Exencial Wealth Advisors (Exencial) is to acquire Willingdon Wealth Management (Willingdon), a North Carolina-based registered investment advisor (RIA).Expected to close on 1 June, 2020, the deal would add USD800 million in assets to Exencial’s book of business and deepen its talent pool with 16 new employees, including five CFA charterholders.
“Willingdon’s values align squarely with our own,” says John Burns, CEO of Exencial. “The team is collaborative and unequivocally focused on delivering the utmost in client service. They’re also among the best in the business in terms of investment expertise, which will provide immense value to our client base.”
Willingdon specialises in investment management and develops personalised investment portfolios for each of their clients. They also provide a wide range of other services, including holistic financial planning, estate planning, trustee services and guidance on charitable giving.
“Exencial’s commitment to exceptional service and integrity mirrors our own,” says Mike Kayes, Founder and President of Willingdon. “Further, there is no doubt this partnership will enhance our value proposition. Exencial’s tax planning capabilities in particular will greatly benefit our clients.”
Upon the completion of the deal, Kayes will serve as a Managing Director for Exencial and remain a member of both the executive leadership and investment teams.
“Mike and his team have also done an excellent job at grooming the next generation of leaders in their firm,” says Burns. “Succession is something we are committed to at Exencial to ensure the growth and continuity of our services for our clients and their families. Their team is passionate, energetic and above all, committed to operational excellence. This drive will fuel our growth for years to come.”
In addition to its headquarters in North Carolina, Willingdon has satellite offices in Connecticut, Ohio and California.