Another RIA Gets Private Equity Backing And An Exit Path For Principals Hot

ScottMartinScottMartin  
 
0.0 (0)
Write Review

 

Rosemont Investment Partners has stepped up to buy an unspecified minority stake in Westmount, which manages about $1.4 billion for clients.

 

The goal here is to recapitalize the firm while retaining operational control -- and, naturally, keeping the investment platform free from any conflicts of interest created by a corporate client with its own retail products to push.

 

Chief operating officer Chris Werner and senior vice president Mike Amash are being promoted to partner as part of the deal.

 

In general, this demonstrates yet another way that advisors can manage their succession plan. Nobody's leaving the firm, but eventually they'll be able to retire and cash out some of the capital that Rosemont is currently pumping into the company.

This Website Is For Financial Professionals Only


User reviews and Comments

There are no user reviews/comments for this listing.
Already have an account? or Create an account