Sax Wealth Advisors Acquires Lighthouse Financial, Adding $350 Million AUM
Updated
Updated · Accounting Today · Aug 21
Sax Wealth Advisors Acquires Lighthouse Financial, Adding $350 Million AUM
1 articles · Updated · Accounting Today · Aug 21
Summary
$350 million in assets under management moved to Sax Wealth Advisors after it closed its acquisition of Florida-based Lighthouse Financial at the end of June.
The deal gives Sax a second Florida office and brings Lighthouse principal Martin Parlato onto the firm, adding his client relationships and experience to Sax's wealth platform.
Sax said the acquisition fits its plan to keep expanding through deals, extending the growth push of parent company Sax Advisory Group, a Top 100 firm.
With seven acquisitions in just six months, is Sax Wealth Advisors building an unstoppable empire or risking a massive integration collapse?
How will Lighthouse Financial clients react when their boutique advisory firm is suddenly swallowed by a rapidly expanding $6.5 billion wealth management giant?
Sax is building an elite athletes-and-artists practice, but why are key niche directors completely hidden from the firm's public digital footprint?