Transaction Deepens Collaboration Opportunities Between Top Tax Advisory Firm Prager Metis and Perigon's Financial Advisors to Elevate Service Experience for High-Net-Worth Clients
Perigon Wealth Management Announces Merger with PM Wealth Management. (Credit: Kevin Schneider from Pixabay)
Perigon Wealth Management (“Perigon”), a rapidly growing independent wealth management firm with offices across the country and $3.6 billion in client assets, today announced a merger with PM Wealth Management, a New York-based RIA with nearly $750 million in assets under management (AUM). Following the merger, Perigon Wealth Management will have over 50 financial advisors and over $4.3 billion in assets under management.
Previously, PM Wealth was part of Prager Metis, an accounting and advisory firm affiliated with Prager Metis International LLC. The transaction, expected to close in November, merges PM Wealth Management with Perigon’s growing nationwide team, with PM Wealth continuing to operate under its own brand, and the firm’s leaders joining the senior executive team of Perigon.
As part of this merger, Perigon has formed a strategic alliance with Prager Metis. Perigon will serve as the preferred wealth management solution for Prager Metis tax clients. Prager Metis will become one of the preferred tax firms Perigon utilizes to deliver holistic tax services to its existing, and future, clients. The alliance creates a structure for seamless client referrals between the two firms, enabling each to address the widest possible wealth management and tax advisory needs of their respective clients. Importantly, Perigon will remain tax agnostic and able to work with any tax firm that provides solutions that align with its clients’ needs.
Adding advisors and tax expertise
“We are thrilled to have PM Wealth Management’s team of talented advisors bring their expertise to our firm,” said Jonathan Hoy, Perigon’s Chief Operating Officer. “This partnership broadens our tax advisory referral resources via Prager Metis to our clients, while establishing Perigon as the wealth management referral firm of choice for the clients of Prager Metis.”
Marc A. Specht, AIF, AAMS, AWMA, RFC, Co-Founder of PM Wealth Management, said, “This partnership enhances our ability to provide greater resources to the PWM Wealth Management team so we can drive the highest-quality service and outcomes for our clients. We gain enhanced back-office support, and our clients get more choices through Perigon’s existing custodial relationships with Pershing, Charles Schwab, TD Ameritrade and Fidelity. The PM Wealth Management team can now focus their efforts on continuing to provide superior service which will enable the firm to grow.”
Glenn Friedman, CEO of Prager Metis, said, “We are pleased to announce that PM Wealth Management has merged with Perigon. We look forward to the increased value add that Perigon can bring to our clients as your financial advisory team. Enhancing our expertise and extending our trusted advisor relationship with our clients to our new partner Perigon is very important.”
The partnership with PM Wealth Management marks the latest expansion for Perigon as it continues to demonstrate a compelling value proposition of providing financial advisors with a seamless way to streamline their operations and plug seamlessly into technology and recruiting platforms to grow business. Since December, Perigon added Matthai Capital Management, a Baltimore-based independent RIA; Baker & Associates, an Irvine, California-based RIA, and Greenville Financial Group of Wilmington, Delaware.
Also, earlier this year, Perigon significantly expanded its executive leadership team to help execute its robust growth strategy of acquiring independent RIAs and recruiting successful financial advisors.
Source: Company Press Release