NEW YORK & SAN FRANCISCO--(BUSINESS WIRE)--Tiedemann Wealth Management (TWM), a New York-based wealth advisor overseeing $9 billion in client assets, and Presidio Capital Advisors (PCA), a San Francisco-based wealth advisor and subsidiary of The Presidio Group with approximately $4 billion in assets, announced today that they have entered into a definitive agreement to join forces. Terms of the transaction were not disclosed.
The combined firm will operate under the Tiedemann Wealth Management brand with approximately $13 billion in assets under advisement and offices in New York, San Francisco, Dallas, Palm Beach, Wilmington, DE and Washington, D.C.
Michael Tiedemann, CEO of TWM, and Craig Smith, President of TWM, will maintain their roles as CEO and President of the combined firm.
“This is a very positive development for our clients who will benefit from the resources and expertise of two of the country’s leading investment and wealth advisory firms. We are now on the ground in the financial, technology, energy and political centers of the U.S.,” said Michael Tiedemann. “Tiedemann and Presidio share a single focus: partner with clients to provide them with objective advice and protect and grow their wealth for generations.”
“We are proud to join forces with a firm that shares our values of accountability, transparency and focus on results, along with the same dedication and passion to a high-touch, clients-first approach,” said Brodie Cobb, Founder and CEO of The Presidio Group, who will join Tiedemann’s Board of Directors. “This partnership enables us to provide our clients with deeper and expanded investment, estate planning and trust resources and services.”
Craig Smith, President of Tiedemann Wealth Management, added, “We are all very excited about broadening our talent pool to further enhance the services we provide and our overall client experience. We take great pride in remaining committed to our private ownership structure and our completely objective approach to wealth management.”
Silver Lane Advisors LLC acted as financial advisor to TWM and Morgan, Lewis & Bockius LLP acted as legal counsel. Berkshire Capital Securities LLC acted as financial advisor to PCA, Gibson, Dunn & Crutcher LLP acted as legal counsel, and BDO Transaction Advisory Services provided tax structuring advice.
About Tiedemann Wealth Management
Tiedemann Wealth Management is a privately owned investment and wealth advisor with a single focus: partner with our clients to protect and grow their wealth for generations. Tiedemann provides high net worth individuals and families, trusts and foundations with customized portfolios, integrated investment and estate planning, and trust services. An owner-managed firm, Tiedemann oversees approximately $9 billion in investable assets.
Founded in 1999, Tiedemann Wealth Management is headquartered in New York, with offices in Palm Beach and San Francisco. The firm provides trust services through Tiedemann Trust Company, a state-chartered trust company located in Wilmington, Delaware. For more information, visit: http://www.tiedemannwealth.com.
About Presidio Capital Advisors
Presidio Capital Advisors, an independent wealth advisory firm and a subsidiary of The Presidio Group LLC, was founded in 1997 with the simple mission to relentlessly put the interests of its clients first. By steadfastly adhering to this philosophy, the firm has earned the trust of affluent families, organizations and businesses throughout the United States. The firm’s seasoned professionals create client relationships based on mutual respect, a commitment to durable, long-term results and a culture of accountability. Today, Presidio Capital Advisors has approximately $4 billion under management with offices in San Francisco, Dallas and Washington, D.C. For more information, visit: www.thepresidiogroup.com/wealth-advisory.