Advisory M&A News – 12/18/23

Millennium Trust Acquires NuView Trust Co.

Millennium Trust Co. LLC has acquired NuView Trust Co., a self-directed individual retirement account custodian focused on alternative assets.

“Alternatives provide people with ways to invest beyond traditional stocks and bonds, contributing to a diversified investment strategy,” Millennium Trust’s CEO, Dan Laszlo, said in a statement. “That’s why self-directed IRAs and alternative assets are a focus for us. NuView’s capability and experienced talent will help us support even more clients and help build a future for new growth opportunities.” 

Founded in 2003 by Glen Mather, NuView will add approximately $2.2 billion of retirement assets and more than 12,000 client accounts to Millennium Trust’s platform.

“We’re excited to integrate our customer-centric operational and technology platforms into the Millennium Trust suite of products and services,” Jason DeBono, NuView’s president, said in a statement. “Clients can continue to expect the same client experience while gaining access to additional solutions, providing even more ways for them to support their wealth and retirement goals.”

Sage Advisory Services Adds Kudu Investment Management as Minority Partner

Kudu Investment Management LLC, a provider of permanent capital solutions to independent asset and wealth managers, announced it has made a minority investment in Sage Advisory Services Ltd., an investment manager with more than $23 billion in client assets under management.

“In Kudu we have found a strategic partner to sustain the next chapter of Sage’s growth and development,” Robert Smith III, Sage’s president and co-CIO, said in a statement. “In seeking a partner, it was important for us to preserve our unique culture, maintain management control, and further develop the talents of the next generation of leadership.”

Based in Austin, Texas, Sage manages fixed income and global asset allocation strategies, structuring portfolios to meet the needs of institutional and individual investor clients. Sage’s investment strategies include taxable and tax-exempt fixed income, liability-driven investing, enhanced cash management, global tactical exchange-traded-fund asset allocation and responsible investing.

“Sage is that rare firm that balances vision with execution, as demonstrated by its host of cutting-edge investment solutions, impressive client roster, and history of being ahead of the curve on critical issues like responsible investing,” Rob Jakacki, Kudu’s CEO, said in a statement.

Atria Wealth Solutions Welcomes OPOC

Atria Wealth Solutions Inc. announced the addition of OPOC.US to Atria subsidiary Cadaret Grant & Co. Inc. OPOC, which stands for “One Point of Care,” is based in Worthington, Ohio, managing nearly $350 million in client assets. OPOC joins Atria from Osaic’s Securities America.

“We wanted to find a partner who really understands the needs of financial professionals and the challenges and complexities we and our clients face,” Edward “A.J.” Sommer III, OPOC’s managing partner of retirement plans and investments, said in a statement. “Atria understands that. It was evident in their approach to technology and how it is used to engage and meet the needs of our clients.”

The OPOC team, including German “Alex” Cabrera, John Crow, David Lawler, Clark May and Carl Swanson, specializes in providing holistic “one point of care” services, a philosophy rooted in being the singular source for employers seeking comprehensive employee benefits and wealth management solutions.

“We are thrilled to welcome OPOC into Cadaret Grant and the Atria family,” Kevin Beard, Atria’s chief growth officer, said in a statement. “After spending time with A.J. and the team and understanding their business and where they want to go, I knew we would be the perfect partner and home for them.”