Emigrant Partners takes stake in Verdence Capital

Emigrant Partners, a subsidiary of New York Private Bank & Trust, has completed a minority investment in Verdence Capital Advisors, a financial planning and wealth management firm managing $3 billion and headquartered near Baltimore.

Terms of the investment were not disclosed.

[More: Emigrant takes stake in $1.7 billion Texas RIA]

Verdence said it will use the investment to invest in its platform, expand its team and develop a national footprint through M&A.

Verdence was founded in 2012 as Kelly Wealth Management. In 2017, it rebranded as Verdence Capital Advisors after separating from Hightower Advisors, the company said in a release.

[More: Biden tax talk seen driving RIA M&A activity]

Leo Kelly of Verdence talks private investments

The post Emigrant Partners takes stake in Verdence Capital appeared first on InvestmentNews.

Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
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