RICHMOND, Va.--(BUSINESS WIRE)--Cary Street Partners today announced the firm has acquired Florham Park, NJ based National Wealth Management, an SEC Registered Investment Adviser. Founded in 2005, National Wealth Management provides high net worth individuals and families with comprehensive fee- based financial planning and wealth management services.
“We are excited to join forces with Dave Cottam and the team of National Wealth Management,” said Joseph R. Schmuckler, Chief Executive Officer of Cary Street Partners. “Dave was an early pioneer to the fee-based independent business model and understands what it takes to build a valuable service culture to clients in today’s environment. Cary Street Partners is built on the same vision and the combination of our firms will strengthen all of us to operate at a higher standard in all that we do to serve clients.”
National Wealth Management (“NWM”) builds asset allocation and investment programs tailored to meeting overall long-term financial goals and objectives. As a fee-based fiduciary platform, the firm was built on always keeping the client at the center of focus. NWM specializes in investment management, financial, retirement and business succession planning, strategic executive stock option management, insurance risk management, advanced planning, and education planning.
“Throughout my career, I have learned to recognize the need for the services provided by my firm and others like me as critical for individuals to save, invest and plan for their futures,” said David Cottam, Founding Partner of NWM. “As we have grown, we began to recognize the need for the larger scale institutional competencies required to cover our business needs. Growing compliance, operations and technology and investment solutions are core to providing the highest standard to remain a true fiduciary. Cary Street Partners has the people and resources required to enable our team to do more of what we love to do, focus on clients and to expand our expertise.”
The combined firms will manage approximately $5.5 billion in assets across all Cary Street Partners subsidiaries1 with the completion of the acquisition and will provide comprehensive wealth management solutions to individuals, families, and institutions. This combination will further expand the Virginia based firm into metro New Jersey, marking the second acquisition in under three years and dramatically expanding the firm’s reach. The transaction closed on April 15, 2022.
About Cary Street Partners
Cary Street Partners Financial LLC is a leading independent financial services firm operating in 13 offices across five states. Cary Street Partners provides comprehensive wealth management services including investment management, planning and financial advice in a culture dedicated to independence and objective thinking. Cary Street Partners financial advisers serve individuals, families and institutions with customized strategies tailored to fit each client’s objectives. For more information, please visit carystreetpartners.com.
1As of the completion of the acquisition (4/15/2022)
Cary Street Partners is the trade name used by Cary Street Partners LLC, Member FINRA/SIPC; Cary Street Partners Investment Advisory LLC and Cary Street Partners Asset Management LLC, registered investment advisers. National Wealth Management (“NWM”) is a registered investment adviser.