AMG Wealth Partners, a subsidiary of Affiliated Managers Group, has entered into a definitive agreement to acquire a majority equity interest in myCIO Wealth Partners.
The Philadelphia-based myCIO is a Comprehensive, Independent and Objective (CIO) financial advisory firm that was founded in 2005 and advises approximately $7 billion in client assets today.
Meanwhile, AMG Wealth Partners has approximately $638 billion assets under management in more than 400 investment products across a broad range of investment styles, asset classes and distribution channels.
The new partnership with AMG Wealth Partners will allow myCIO to expand its capabilities to a broader client base.
“MyCIO is a leading wealth advisory boutique that complements our existing Affiliate group,” said John W. Copeland, president of AMG Wealth Partners, in a statement. “As the demand for tailored, high-end wealth advisory services increases, myCIO’s unique focus on corporate executive financial and retirement planning, combined with customized investment advice, provides an outstanding platform for continued growth.”