Advisory M&A News – 7/8/24

Aquiline Capital Acquires Majority Stake in Isio Group

Aquiline Capital Partners LP, a private investment specialist in financial services and related technologies, has agreed to a majority investment in Isio Group Ltd., a pensions, reward and benefit and investment advisory businesses in the U.K.

Since launching in 2020, Isio has completed two acquisitions, expanding the company’s scale, geographical footprint and range of services. Isio now has 1,200 employees and 10 offices across the U.K.

Aquiline’s investment will expand Isio’s core services and adjacent practices, including rewards and benefits, investment advice and private capital. New York-based Aquiline is acquiring its majority shareholding from Exponent Private Equity LLP, which has backed Isio since its 2020 carve-out from KPMG. Isio’s management team will continue to retain a significant minority investment.

In the U.K., Aquiline has invested in Smart Pension, a global pension software and solution provider; Wealth at Work, a provider of workplace financial education, guidance and advice; and Landytech, a private markets investment management technology provider, among others.

Countiss Wealth Management Debuts

Dan and Olivia Countiss, a Mississippi-based father-daughter duo, announced the launch of Countiss Wealth Management. The Countisses are joined by Chandler Duke, investment analyst, and Christy Walker, client services associate. 

“We see ourselves as now being a multigenerational family serving multigenerational families,” said Dan Countiss in a statement. “By working with and beside Olivia, we can deliver more expertise together to our clients.”

The tandem was previously affiliated with Edward Jones, serving nearly 500 client families and business owners and managing nearly $200 million in investments. LPL Financial provided back-office support for Countiss Wealth Management to help offer advice on clients’ 401(k) investments. 

“With 401(k)s being the first vehicle for retirement savings, clients have been asking for advice on how to invest their 401(k) dollars, and Countiss Wealth Management will now be able to help clients with this important part of their financial picture,” said Olivia Countiss in a statement.

Wealth Enhancement Group Adds Starfox Financial Services

Wealth Enhancement Group LLC, an independent wealth management firm with more than $85.3 billion in client assets, announced the acquisition of Starfox Financial Services LLC, an independent registered investment advisory in The Woodlands, Texas.

Starfox manages more than $254 million in client assets and is led by Jose Palafox, founding partner and wealth adviser, alongside Bill Friebel, partner and wealth adviser.

Founded in 2006, Starfox provides comprehensive wealth management, including financial planning, retirement planning, college planning, investment management and retirement income planning. The team serves professionals, business owners, retirees and their families.

“I’m pleased to welcome Jose, Bill, and their team to Wealth Enhancement Group,” said Jeff Dekko, Wealth Enhancement Group’s CEO, in a statement. “The team at Starfox Financial Services treats their clients like family and cares deeply for their community.”