In his five years with Wealthspire, CEO Michael LaMena has helped the firm grow from under $6 billion in assets to over $20 billion, the RIA firm says. He has also led its rollout of new services to ultra-high net worth investors, impact investors and clients in need of estate plans and family office services. In addition, the firm recently completed four transactions: It acquired StratWealth, Private Capital Group and Private Ocean, as well as integrated Lenox Wealth Advisors. 
Michael LaMena
LaMena led the formation of a committee dedicated to building a more diverse and equitable workplace. As of this summer, over one-third of Wealthspire's nearly 100 financial advisors are female vs. an industry average of only 18%; people of color comprise 17% of the firm's workforce.
Madison Dearborn Partners completed its acquisition of five NFP wealth management businesses from Aon at the end of October and has formed a new independent advisory firm to serve clients across wealth, institutional and retirement markets under the Wealthspire brand.
The combined firm brings together Wealthspire Advisors, Fiducient Advisors, Newport Private Wealth, Wealthspire Retirement Advisory (formerly a segment of NFP Retirement) and Ground Control Business Management. Together, the firm will represent more than $580 billion in combined client assets under management or advisement.
Michael LaMena, formerly the CEO of Wealthspire Advisors, will serve as CEO of the combined and expanded Wealthspire organization. Carl Nelson, formerly executive vice president of mergers and acquisitions at NFP, has been appointed president of Wealthspire.
LaMena and Nelson will be joined by a management team drawn from the leaders of the predecessor companies as well as a team of former NFP senior executives.
“This is a defining moment for our organization and for our industry,” LaMena said in a statement. “By bringing together leading firms with complementary strengths, we’re creating a unified platform built for the future that draws on deep expertise, advanced technology, and a shared commitment to serving clients. This is about unlocking our collective potential and building something greater together.”
LaMena said the combined leadership team is focusing on integration to execute on the vision of a platform that meets “the full spectrum of client needs” — from individual and family wealth management to institutional consulting and business management services.
Madison Dearborn’s purchase of the wealth management firms for $2.7 billion came a little less than two years after Aon itself bought NFP from Madison Dearborn for $13 billion. At the time of the first deal, the wealth businesses represented about 17% of NFP's revenue. The new transaction was intended to reinforce Aon’s focus on “core risk capital and human capital capabilities and presence” in the middle market.
Pictured: Michael LaMena
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