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Thursday, February 22, 2024

Robertson Stephens Hits $4B Milestone

Bay Space-based Robertson Stephens Wealth Administration introduced Friday the acquisition of an area registered funding advisor, LFS Wealth Advisors, managing round $210 million in advisory belongings, including two new places of work within the Northern California area.

The deal additionally introduced the RIA’s whole consumer belongings to greater than $4 billion. It follows the addition of a $160 million Boston apply, Vodia Capital, introduced Wednesday. Phrases of neither transaction have been disclosed.

On the West Coast, LFS Wealth Advisors was based in 1988 by Managing Director John Lau, who will now be a part of Robertson Stephens as managing director and principal. Lau is joined by colleagues Helen Lau, Matthew Lau, Diana Cason, Michael Stephens, Jennifer Spence, Carmen Liu and Jialin Liu.

Based mostly in San Ramon with a second workplace in Burlingame, LFS supplies holistic wealth administration companies to Bay Space purchasers, together with danger administration, tax planning and property conservation methods.

Robertson Stephens CEO Raj Bhattacharyya stated the acquisition will develop the agency’s tax administration capabilities.

“Collectively, I imagine that we will give our purchasers extra funding alternatives and complementary wealth planning capabilities to actually fulfill their objectives,” Lau stated in an announcement.

David Matias based Boston-based Vodia Capital in 2004 with a deal with proprietary analysis, impact-oriented methods and portfolio design. Matias and Principal Avi Deutsch will be a part of Robertson Stephens together with colleagues Brandon Frye, Chuning Wang, Janet Shetty and Mammad Aliyev.

“David has constructed a top-tier RIA with deep experience in creating funding methods that obtain purchasers’ monetary and social impression objectives,” stated Bhattacharyya, in an announcement. “With their addition, we’re additionally excited to deepen our Northeast presence with a brand new workplace within the larger Boston space.”

“Modifications within the business, together with new tech choices, elevated regulatory complexity and the expansion of personal funding alternatives, have elevated the benefits of being part of a bigger wealth administration agency,” Matias stated in an announcement

Robertson Stephens now has 77 staff throughout 16 areas all through the nation.

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