MINNEAPOLIS & NAPLES, Fla.--(BUSINESS WIRE)--Meristem Family Wealth, one of the top family wealth management firms in the U.S with assets under management of $2.35 billion, today announced that an investor group composed of: Best Buy founder, Richard M. Schulze; Kevin Bergman, president and chief operating officer of the Schulze family office, Olympus Ventures; and Michael Benson, chairman and chief executive officer of the wealth preservation consultancy Benson Blackburn, has completed a capital investment in Meristem. The investment represents a 25 percent stake in the firm. Additional terms of the transaction were not disclosed.
Meristem will devote the capital infusion toward growth-oriented initiatives, specifically market expansion focused on Naples, Fla., building on the success of the South Dakota-based Meristem Trust Company, and investments in talent and technology to better serve clients.
“The trust and support of our clients has led to Meristem’s 16-year history of steady, consistent growth. This capital infusion will allow us to make the investments necessary to continue this growth, while preserving our sensitivity to client need, our vision and our independence,” said Charlie Maxwell, chairman and CEO of Meristem. “We are delighted that this same trust is shared by this investor group. By investing in our market presence, people and client-focused resources, we intend to create a more enhanced Meristem.”
Richard M. Schulze, on behalf of the investor group, added, “We believe Meristem has a strong platform – which includes a South Dakota-based trust company that provides a strategic advantage – focused people and clear purpose. We are excited about the opportunity to help them extend these qualities to new clients and contribute to their growth. We share many of the same financial and philanthropic values, and believe this alignment will positively contribute to the value of our investment.”
In connection with the investment, Kevin Bergman and Michael Benson will join the Meristem board of directors. “Kevin and Michael bring unsurpassed experience in the business and tax consulting arenas, as well as family-office and private wealth management expertise,” Maxwell added. “As we grow, their counsel and outside perspectives on our board will be invaluable to our firm and our clients.”
Meristem Family Wealth, LLC is an independently-owned wealth management firm. Meristem was designed using the blueprint of the traditional “family office” experience to work alongside clients who are looking for more from their advisors. Meristem is headquartered in Minneapolis and has offices in Naples, Florida and Scottsdale, Arizona. Meristem provides trust services through its affiliate, Meristem Trust Company located in South Dakota. The firm brochure for Meristem Family Wealth has been amended to reflect today’s announcement. If you would like to receive a copy of this brochure, please contact Jocelyn Henkensiefken at 888-835-2577. www.meristemfw.com