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Cambridge Funding Analysis has launched BridgePort Monetary Options, a fee-only registered funding advisor agency that goals to assist the enterprise and succession planning wants of smaller impartial advisory outlets.
Executives say the brand new agency will deal with taking majority and minority stakes in RIAs with $250 million in belongings or much less — smaller than corporations typically focused by main RIA consolidators (or rollup corporations), a few of that are supported by personal fairness funding.
BridgePort will put money into corporations that custody belongings with BNY Mellon Pershing, Constancy’s Nationwide Monetary, Charles Schwab and SEI, based on two Cambridge leaders who spoke early Tuesday with ThinkAdvisor. Its platform is constructed on expertise offered by Orion Advisor Options.
The BridgePort mannequin “is not going to cannibalize” the acquisition and affiliation targets of Cambridge itself resulting from rising demand within the impartial RIA market for a wide range of relationship fashions and acquisition types, stated Jeff Vivacqua, head of progress and improvement for the agency.
BridgePort has already acquired three corporations with a mixed $1 billion in belongings beneath advisement. Two of the offers have been inked as full acquisitions, he defined, whereas one was organized as a minority funding.
The objective for 2024, Vivacqua says, is to make 5 to 10 extra offers. The brand new channel is being led by Eddie Rollins, a former companion at Horizon Investments, who helped lead that agency’s distribution efforts over the previous 14 years.
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