AMG Wealth Partners, LP, a subsidiary of
Affiliated Managers Group Inc.
), has announced the acquisition of an equity stake in N.Y.-based
Clarfeld Financial Advisors, LLC. However Clarfeld's management
and employees still hold a majority stake in the firm and will
continue operating it autonomously.
As part of the deal, a large number of Clarfeld's senior
executives have made long-term employment commitments to the
firm. However, the terms and conditions of the deal were not
Founded in 1981, N.Y.-based Clarfeld, provides complete
investment, estate and financial planning. Further, the company
offers tax planning and compliance, risk management and family
office services to professionals, business owners and other
high-net-worth individuals as well as family trusts and
Clarfeld's expertise in the wealth advisory sector, its healthy
client base, a strong culture of risk management and a wide range
of services will be added advantages to Affiliated Managers.
Additionally, Clarfeld has ample opportunities to grow its
business, given its renowned brand position. The collaboration
will help Clarfeld enhance its advisory business, especially in
We believe that Affiliated Managers remains well positioned to
benefit from increased investments in the near term. Further,
opportunistic acquisitions will add to the company's diverse
product mix and will be a near-term growth driver for revenues.
Moreover, the increasing need for risk management and alternative
investment solutions within the financial service industry is
expected to be accretive to the company's financials going
forward. However, a slow economic recovery will likely be a
Affiliated Managers currently carries a Zacks Rank #3 (Hold).
Some better performing asset mangers include
The Blackstone Group L.P.
Fortress Investment Group LLC
Principal Financial Group Inc.
). All these stocks carry a Zacks Rank #2 (Buy).
AFFIL MANAGERS (AMG): Free Stock Analysis
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FORTRESS INVEST (FIG): Free Stock Analysis
PRINCIPAL FINL (PFG): Free Stock Analysis
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