AMG Wealth Partners, a Palm Beach, Fla., subsidiary of Affiliated Managers Group (AMG), announced Monday that it has acquired an equity interest in Clarfeld Financial Advisors.
Based in New York and with a presence in London, Clarfeld provides investment, estate and financial planning, as well as tax planning and compliance, risk management and family office services to corporate executives, business owners and other high-net-worth individuals and their family trusts and foundations.
Clarfeld’s management and employees will continue to hold a majority of the equity in the business and retain operating autonomy. As part of the transaction, a group of Clarfeld’s senior professionals has made long-term employment commitments to the firm. The terms of the transaction were not disclosed.
“Through our affiliation with AMG Wealth Partners, we will retain the essential elements of our firm’s operating culture and three-decade history of success while gaining access to enhanced opportunities for growth, especially in our non-domestic business, given the scale and resources of a global financial partner,” Clarfeld President and CEO Robert Clarfeld said in a statement.