AlphaCore acquires Elk River Wealth Management

AlphaCore Wealth Advisory has acquired Elk River Wealth Management, a seven-member advisory squad that oversees astir $1bn successful assets.

The woody extends the company's footprint successful Colorado, adding unit successful the Cherry Creek area.

Financial presumption of the woody stay undisclosed.

The acquisition comes aft AlphaCore's earlier purchases of Johnston & Associates and All Season Financial, adding to its operations and resources successful the section market.

AlphaCore is expanding its capableness done lawsuit referrals and different referral channels viewed arsenic trusted by the firm.

It is besides adding concern improvement unit successful Colorado arsenic it seeks to enactment further enlargement successful the state.

Chris Freimuth, laminitis and main enforcement of Elk River, started the steadfast aft decades of advising high-net-worth and ultra-high-net-worth clients successful Colorado and Arizona.

Following the deal, the squad volition person entree to a scope of services, including taxation strategy and preparation, hazard management, household governance and philanthropic planning.

Freimuth said: "Joining AlphaCore was a earthy adjacent measurement for our steadfast and our clients arsenic we searched for the close semipermanent partner.

"We were drawn to the firm's accordant integrated maturation and its committedness to gathering a level that helps advisors present much for clients. AlphaCore's established beingness successful Denver and dedicated section advisors springiness america further extent and collaboration connected the advisory side, portion preserving the highly personalized work our clients value."

After completion of the transaction, AlphaCore volition person much than 120 employees crossed 5 main offices successful San Diego, California; Denver, Colorado; Austin, Texas; Rockville, Maryland; and Greenwich, Connecticut.

As portion of the deal, Elk River's squad volition determination to AlphaCore. Freimuth volition go managing spouse and volition oversee the Cherry Creek and Phoenix teams.

AlphaCore laminitis and CEO Dick Pfister said: "When we founded AlphaCore, our imaginativeness was to physique an enduring boutique wealthiness absorption steadfast that delivers a premium lawsuit acquisition done some standard and broad capabilities.

"Our concern with Elk River, pursuing the enlargement of our taxation capabilities past fall, reflects that imaginativeness successful enactment arsenic we deepen our beingness successful Colorado, fortify our enactment team, and proceed gathering a steadfast that tin turn some organically and done strategical acquisitions."

"AlphaCore acquires Elk River Wealth Management " was primitively created and published by Private Banker International, a GlobalData owned brand.