Wealth Partners Capital Group and HGGC Establish Strategic Partnership with MCF Advisors

Kentucky-based RIA receives investment to accelerate organic and inorganic growth

PALM BEACH, Fla. & PALO ALTO, Calif. & LEXINGTON, Ky.--(BUSINESS WIRE)--MCF Advisors, LLC (“MCF”), a Kentucky-based registered investment adviser (“RIA”), today announced it has entered into a strategic partnership with Wealth Partners Capital Group (“WPCG”), a financial services holding company, and HGGC, a firm focused on partnership investing. WPCG and the Aspire Holdings platform of HGGC have made a minority equity investment in MCF to fuel the firm’s growth through organic client acquisition and strategic M&A while expanding its presence in the greater East South Central U.S. The management team of MCF remains the majority shareholder and will continue to control the decision-making and operations of the firm.

Founded in 2004 by Chairman Bob Sathe and CEO Dave Harris, MCF is a premier financial services firm headquartered in Lexington, Ky. with additional offices in Covington and Louisville. Committed to delivering exceptional client experiences, MCF provides financial leadership to individuals, families, business owners, and institutional clients. MCF proudly manages over $3.3 billion in client assets as of December 31, 2024.

With a team of seasoned professionals, MCF blends deep expertise with a client-first philosophy to navigate today’s complex financial landscape. The firm offers a comprehensive suite of services, including integrated financial planning, investment management, tax advisory and preparation, estate planning guidance and document preparation, personal CFO services, retirement plan consulting and business advisory solutions.

“Our clients deserve the best, and our strategic partnership with WPCG and HGGC will ensure we continue to bring on great talent, invest in new technology and provide world class service to our clients,” said Dave. “This investment will allow us to expand our advisory teams, extend our reach and broaden our geographic footprint while remaining true to our core values: delivering on our promises, building meaningful relationships, and prioritizing our clients in every action we take.”

“MCF is an outstanding business with a deep and experienced leadership team and a scalable operating and investment platform,” said John Copeland, Managing Partner of WPCG. “MCF leads with a client-first planning approach, and we are excited to assist Dave and his team as they support more advisors and their clients in more places.”

“Our core strategy at Aspire Holdings is identifying great firms like MCF and then combining our efforts with company management and our partner, Wealth Partners Capital Group, to help drive strategic growth,” said HGGC. “We’re confident that this new relationship will replicate the past success we’ve enjoyed.”

The partnership closed March 7, 2025. Financial and legal terms of the transaction will not be disclosed. Frost Brown Todd LLP and Gunster served as legal counsel to MCF and the new investor group, respectively.

About MCF Advisors

MCF Advisors, LLC (“MCF”) is an investment management firm headquartered in Lexington, Ky. that serves clients through two divisions: Wealth Management (individuals, families, and business owners) and Institutional (retirement plans: 401(k), deferred compensation & defined benefit; endowments, health benefit trusts, and corporations). The firm’s mission is to provide clients with peace of mind by facilitating successful outcomes through excellent financial leadership, integrity, and service. MCF has consistently been recognized in Financial Advisor Magazine’s RIA Survey & Ranking list and named one of the Best Places to Work in Kentucky by the Kentucky Chamber of Commerce. MCF is an SEC registered investment adviser, providing investment management and/or consulting services on over $3.3 billion of client assets as of December 31, 2024. To learn more, please visit www.mcfadvisors.com.

About Wealth Partners Capital Group

Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which invests in and partners with select leading wealth management firms. WPCG assists its partner firms by identifying and integrating like-minded wealth advisers who seek access to expanded business capabilities, strategic growth and/or customized transition solutions. For more information, please visit www.wealthpcg.com.

About HGGC

HGGC is a values-driven, partnership-focused private investment firm. The firm’s ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long-term value together. HGGC invests in technology, business services, financial services and consumer enterprises generally valued between $200 million – $1.5 billion+. The firm is based in Palo Alto, CA and manages over $8 billion in cumulative capital commitments. Since its inception in 2007, HGGC has completed more than 700 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $80 billion. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. More information, including a complete list of current and former investments, please visit www.hggc.com.

Additional Disclosures

¹Financial Advisor Magazine’s Registered Independent Advisor Survey & Ranking list: neither the companies nor their employees pay a fee to Financial Advisor Magazine in exchange for inclusion on this list.

²Kentucky Chamber of Commerce: neither the companies nor their employees pay a fee to Kentucky Chamber of Commerce in exchange for inclusion on this list, however MCF is a dues paying member of the Kentucky Chamber of Commerce and the Kentucky Society for Human Resource Management (KYSHRM).

For full disclosure details regarding aforementioned awards, please visit https://mcfadvisors.com/who-we-are/ourstory