Northeast Indiana investment advisor lands growth investment
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Auburn-based Credent Wealth Management has received an investment from a Texas-based investment firm with more than $18 billion in assets under management to help further fuel the company’s growth strategy.
The funds from Crestline Investors Inc. will support additional mergers and acquisitions and help further develop Credent’s technology platform that independent and Credent financial advisors use to manage client investment accounts, Credent said in a news release.
Terms of the deal were undisclosed. The Credent executive team will continue in their existing roles, the company said.
“The collaboration with Crestline allows us to continue our growth trajectory, accelerate investment in the business, and expand our national presence while maintaining our commitment to exceptional client service and to building a forever firm owned by our advisors,” Credent Wealth Management CEO David Hefty said in the release.
Credent Wealth Management has completed more than 12 acquisitions since it launched in 2018.
The investment by Crestline continues a trend of investment houses buying stakes in advisory firms to gain scale and to tap into the multibillion-dollar transfer of wealth from baby boomers to their heirs, said industry news source Family Wealth Report, a publication of London-based ClearView Financial Media.
Crestline Investors Inc., founded in 1997, is an alternative investment management firm based in Fort Worth, Texas, with affiliate offices in London, New York City, Toronto and Tokyo. Vice President Albert Hicks said Credent has a strong track record of growth.
“We believe Credent is well-positioned to continue to execute its growth strategy in an attractive, consolidating industry with its client-first approach and differentiated investment platform solutions to advisors,” he said in the news release.
Credent Wealth Management is a $2.6 billion registered investment advisor based in Auburn, with offices in Indiana, Michigan, Wisconsin, Minnesota, Oklahoma, Kentucky and Texas.