Acquisition expands Wealthspire’s presence in the West
Wealthspire Advisors LLC, an NFP company and independent investment adviser, today announced a signed agreement to purchase Sage Financial Advisors, Inc., a Nevada-based registered investment advisor (RIA). Sage manages approximately $194 million in assets* and maintains an office in Reno.
“We are delighted to welcome Brian Loy and the Sage team to Wealthspire,” said Mike LaMena, Wealthspire’s CEO. “They’ve built a strong planning-first business that prioritizes the client experience and aligns with our fiduciary model. With this addition, we expand our growing presence in the West, and further reinforce our firm as a truly national RIA.”
Wealthspire expanded on the West Coast in 2021 with the purchase of Private Ocean, LLC, establishing three offices in California and Washington. Following the acquisition of Sage, Wealthspire will oversee approximately $17 billion in assets* across 20 offices throughout the country.
Founded in 1996, Sage helps clients reach their goals by creating custom-designed financial solutions and collaborating with other trusted professionals. Sage President Brian Loy has built a successful business by dedicating his career to providing specialized financial services to entrepreneurs, health professionals, executives, and retirees.
“Since our founding, the well-being of our clients has been at the forefront of everything we do,” said Loy. “We are now part of a much deeper team with national scope, enhanced resources, and ever-evolving capabilities all while remaining true to our purpose.”
Other members of the Sage team making the transition include Kirstin Griffin, Investments and Client Relations, who brings 15+ years of client service experience in investment management, banking, and real estate, and Mary Stammers, a junior analyst who manages operations for the firm.
The transaction is expected to close in the fourth quarter of 2022, subject to customary approvals and closing conditions.
DeVoe & Company served as advisor and Hanson Bridgett LLP served as transaction legal counsel to Sage. Ropes & Gray LLP served as legal counsel to NFP and Wealthspire Advisors. * Based on 9/30/2022 values
About Wealthspire Advisors
Wealthspire Advisors is an independent registered investment advisor that oversees, across its entities, 19 offices in 10 states throughout the Northeast, Mid-Atlantic, Midwest, and West Coast. We are fiduciary advisors who value connecting all parts of a client’s financial life to deliver thoughtful, collaborative strategies that optimize their finances and fulfill their aspirations. Wealthspire Advisors acts as a wealth manager, investment advisor, consultant, and constant partner in helping clients gain confidence in their financial futures. For more information on Wealthspire Advisors, please visit www.wealthspire.com.
NFP is a leading property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor that provides solutions enabling client success through the expertise of over 7,000 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 9th best place to work for large employers in insurance, 7th largest privately-owned broker, 5th largest benefits broker by global revenue and 13th largest broker of US business (all rankings according to Business Insurance). Visit NFP.com to discover how NFP empowers clients to meet their goals.
Wealthspire Advisors is the common brand and trade name used by Wealthspire Advisors LLC and Private Ocean, LLC, separate registered investment advisers and subsidiary companies of NFP Corp. This information should not be construed as a recommendation, offer to sell, or solicitation of an offer to buy a particular security or investment strategy. The commentary provided is for informational purposes only and should not be relied upon for accounting, legal, or tax advice. While the information is deemed reliable, Wealthspire Advisors cannot guarantee its accuracy, completeness, or suitability for any purpose, and makes no warranties with regard to the results to be obtained from its use. © 2022 Wealthspire Advisors
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