Founded in 1981 by Robert Clarfeld, the firm provides a comprehensive financial planning service, including tax planning and compliance, risk management and family office services. Globally, it advises on around $4bn (£2.56bn) of client assets.
Its small London-based office has been singled out as a beneficiary. Clarfeld said: “Through our affiliation with AMG Wealth Partners, we will retain the essential elements of our firm’s operating culture and three-decade history of success while gaining access to enhanced opportunities for growth, especially in our non-domestic business, given the scale and resources of a global financial partner”.
As part of the deal, Clarfeld’s management and employees continue to hold a majority of the equity in the business and will retain operating autonomy to manage the firm.
AMG Wealth Partners is a subsidiary of NYSE-listed Affiliated Managers Group with assets under management of $470bn in more than 400 investment products.
John Copeland, president of AMG Wealth Partners, said: “Given Clarfeld’s strong brand and competitive position, the firm has outstanding prospects to continue to grow its business.
“Clarfeld is renowned for its unique ability to assist global executives and their families in solving the complexities of cross-border wealth management, asset transfer and tax preparation. We look forward to working with our new partners to grow their advisory business, particularly in the UK.”
Adviser numbers are up in an already crowded marketplace, or are they?
