Wealthspire Advisors to Acquire Heron Wealth, a New York City-Based Wealth Management Firm
Acquisition strengthens Wealthspire’s Northeast footprint
New York, March 23, 2023 – Wealthspire Advisors LLC, an NFP company and independent investment adviser, today announced a signed agreement to purchase Heron Financial Group, LLC dba Heron Wealth, a New York City-based wealth advisory firm that manages approximately $300 million in assets*.
“We are delighted to welcome David Edwards and the Heron team to Wealthspire,” said Mike LaMena, Wealthspire’s CEO. “The addition of this experienced team deepens our New York City presence with talented professionals who are committed to delivering an amazing client experience built on a foundation of trust and fiduciary care.”
Founded as predecessor Heron Capital Management, Inc. by President David Edwards in 1996, Heron Wealth provides financial planning, investment advice, and estate planning services to client families living in the United States. Heron’s purpose is to create lifetime relationships with their clients across generations including professional and executive individuals and their families, business owners, and rising professionals.
“For three decades, we adapted our firm to meet the evolving needs of our clients,” said Edwards. “We are thrilled to join Wealthspire Advisors to add additional capabilities as we advise the ever more complex requirements of modern families.”
The transaction is expected to close early in the second quarter of 2023, subject to customary approvals and closing conditions.
Park Sutton Advisors, a Waller Helms Company, served as advisor and Wiggin and Dana LLP served as transaction legal counsel to Heron Wealth.
About Wealthspire Advisors
Wealthspire Advisors is an independent registered investment advisor that oversees, across its entities, 19 offices in 10 states throughout the Northeast, Mid-Atlantic, Midwest, and West Coast. We are fiduciary advisors who value connecting all parts of a client’s financial life to deliver thoughtful, collaborative strategies that optimize their finances and fulfill their aspirations. Wealthspire Advisors acts as a wealth manager, investment advisor, consultant, and constant partner in helping clients gain confidence in their financial futures. For more information on Wealthspire Advisors, please visit www.wealthspire.com.
About NFP
NFP is a leading property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor that provides solutions enabling client success through the expertise of over 7,400 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 9th best place to work for large employers in insurance, 7th largest privately-owned broker, 5th largest benefits broker by global revenue and 13th largest broker of US business (all rankings according to Business Insurance).
Visit NFP.com to discover how NFP empowers clients to meet their goals.
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*AUM as of 2/28/2023
Wealthspire Advisors is the common brand and trade name used by Wealthspire Advisors LLC and Private Ocean, LLC, separate registered investment advisers and subsidiary companies of NFP Corp.
This information should not be construed as a recommendation, offer to sell, or solicitation of an offer to buy a particular security or investment strategy. The commentary provided is for informational purposes only and should not be relied upon for accounting, legal, or tax advice. While the information is deemed reliable, Wealthspire Advisors cannot guarantee its accuracy, completeness, or suitability for any purpose, and makes no warranties with regard to the results to be obtained from its use. © 2023 Wealthspire Advisors
David Edwards is president and wealth advisor with Heron Wealth, a $500 million registered investment advisor based in New York City working with 225 client families across the U.S. and around the world.
At time of publication, Edwards and/or his clients held positions Amazon, Apple and Google.