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Home / transaction / Berkshire Global Advisors acted as financial advisor to Veriti Management
Berkshire Global Advisors acted as financial advisor to Veriti Management
  • has agreed to be acquired by

    • Berkshire Global Advisors acted as financial advisor to Veriti Management

  • Date: July 2022
  • Sector: Financial Technology | Wealth Management
  • Sub-Sector: Direct Indexing
  • Region: North America
  • Seller AUM: $1 Billion

    • Seller Details:
    Veriti Management LLC is a direct indexing platform that provides custom index tracking, tax loss harvesting solutions, responsible investing, account funding and gifting in a low cost, tax favorable manner. Veriti’s direct indexing technology enables wealth advisors and institutional investors to customize investment strategies to align with investors’ values and offers the potential to capture substantial tax savings. The Company’s approach to asset management focuses on delivering advisors scalable strategies for driving tax advantaged returns and deep customization for individual investors and institutional clients.

    Buyer Details:
    First Trust Advisors L.P. is a privately owned investment manager that manages $203 billion in assets across a diversified product suite of equity, balanced and fixed income portfolios, ETFs and other investment solutions, globally. First Trust was founded in 1991 and is based in Wheaton, Illinois.

    Transaction Summary:
    First Trust Capital Partners, LLC, agreed to acquire Veriti to add direct indexing capabilities and its experienced team to First Trust’s investment solutions platform. First Trust plans to integrate Veriti’s direct indexing offering into its product suite to enhance distribution to RIA channels as well as grow the institutional side of the business. By partnering with a leading investment management firm, Veriti plans to accelerate growth and compete with other direct indexing players by leveraging First Trust’s brand, market positioning and distribution capabilities.