Seller Details:
Founded in 1997 and headquartered in McLean, Virginia, Spire Investment Partners (“Spire”) is a hybrid RIA with $5.4 billion in AUM, supporting independent financial professionals through infrastructure, service, and community, with solutions built around each advisor’s preferred level of ownership and responsibility. Spire’s advisors own their practices and client relationships, with Spire providing the operational backbone that lets them focus on turning their vision for their practice into reality.
Buyer Details:
Concurrent Investment Advisors (“Concurrent”) is a registered investment advisor operating as a platform, headquartered in Tampa, Florida, and built as a haven for entrepreneurial advisors. Concurrent serves advisors through platform and partnership, pairing integrated technology and services with access to growth capital so advisors can scale without sacrificing control. Advisors and firms affiliate through Concurrent’s traditional IAR channel or its Platform as a Service model. Concurrent is backed by Merchant Investment Management.
Transaction Summary:
The acquisition of Spire brings approximately $5.4 billion in total assets across business lines and more than 30 advisor teams to Concurrent. With the addition of Spire, Concurrent reaches $28.6 billion in assets under management, up from $16.8 billion at the start of the year. Concurrent also has $18 billion in corporate retirement plan assets under advisement. The transaction adds a home office presence in Northern Virginia and extends Concurrent’s advisor footprint to 33 states.