US, Hong Kong firms merge to form $4.3 billion advisory

Three advisory firms, LeoGroup, the Capital Company and BFT Financial Group, have merged to form Leo Wealth, managing $4.3 billion and providing wealth and asset management along with international tax and estate planning.

The new firm combines the wealth management and fund services units of the LeoGroup, which together oversee $647 million from the firm’s headquarters in Iselin, New Jersey; the Capital Group, which is based in Hong Kong; and BFT Financial Group, a hybrid managing $609 million in Hurst, Texas, which is outside of Dallas-Ft. Worth.

[More: Focus Financial launches multifamily office in London]

“The pandemic and other geopolitical risks have created new challenges for global citizens looking for wealth creation and protection across international borders,” said Jessica Cutrera, president of Leo Wealth in Hong Kong. “We understand their aspirations and can help clients capture these opportunities.”

[More: iCapital targets global market share with latest acquisition]

Matthew Allain, formerly head of the LeoGroup, is chief executive of the new firm based in New York, and Stephen Tally, formerly of BFT Financial, will serve as chief operating officer based in Texas.

[More: Record 101 RIA transactions took place in first half]

The post US, Hong Kong firms merge to form $4.3 billion advisory 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.
%d bloggers like this: