Nesvold Capital Partners says it has taken a minority stake in Pure Financial Advisors, a $2.7 billion California RIA with offices in San Diego, Orange County and Los Angeles.
Terms of the deal were not disclosed. The transaction is NCP’s second minority investment since the merchant bank launched last month, following the strategic, minority investment it made in Stratos Wealth Holdings.
Founded in 2007 by Michael Fenison, its CEO and chairman, Pure is a fee-only RIA that provides comprehensive retirement planning services and tax-optimized investment management.
“Pure has distinguished itself as one of the fastest growing RIAs, both before and during the COVID-19 pandemic,” according to Peter Nesvold, NCP’s founder.