Mesirow acquires Florida-based RIA, further expanding firm’s robust wealth management offering
- Mesirow acquires Price Wealth Management, an RIA firm based in Stuart, Florida.
- Craig Price, CFP®, CTFA becomes a Mesirow Wealth Advisor, establishing a local Mesirow Wealth Management presence for high net worth individuals and families in Southeast Florida.
- Transaction continues momentum of growing presence and headcount in Florida and regional Southeast, with initial focus on Wealth Management and Capital Markets.
CHICAGO, September 3, 2024 – Mesirow, an independent, employee-owned financial services firm, today announced the acquisition of Price Wealth Management, an established RIA firm based in Stuart, Florida. This transaction builds upon Mesirow’s significant existing footprint in the area, which also includes offices in Miami and Boca Raton. Price Wealth Management was represented by DeVoe & Company, a leading consulting firm and investment bank to RIAs.
“This transaction aligns with our focus on serving a growing base of wealth management clients, advancing the firm’s footprint in Florida and the regional Southeast, and combining ongoing organic growth with strategic acquisitions in the wealth space,” said Brian Price, CEO of Mesirow Wealth Management.
With the addition of Craig Price, CFP®, CTFA, and Nancy Zehr, CTFA, Senior Client Relationship Specialist, Mesirow clients and prospects in Southeast Florida gain proximity to an experienced Wealth Advisor with firsthand understanding of planning considerations specific to the Florida region and focus on comprehensive financial planning. Price and his team will gain access to a broader range of investment research resources and the ability to grow their practice backed by Mesirow’s strong resources and reputation.
“We are excited to join Mesirow Wealth Management and know that our business philosophy and personal values are well aligned with the company’s culture,” said Craig Price. “We look forward to deepening Mesirow’s Wealth Management presence in Florida and continuing to advise the families we have long served.”
Over the next 2-3 years, the firm plans to grow its headcount, with an initial focus on Wealth Management and Capital Markets, including corporate and governmental clients, while also expanding its presence along the west coast of Florida. Over the intermediate to longer-term, the goal is to grow across the greater Southeast region, opening offices in locations to best serve clients and expand organically and through opportunistic, complementary lift-ins and bolt-on acquisitions.
Mesirow Wealth Management has more than $11.4 billion in assets under management / assets under advisement1, and Mesirow overall has $288.1 billion in assets under supervision.2
About Mesirow
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with locations around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture. To learn more, visit mesirow.com, follow us on LinkedIn and subscribe to Spark, our quarterly newsletter.
Mesirow has been named one of the Best Places to Work in Chicago by Crain’s Chicago Businessmultiple times and is one of Barron’s Top 100 RIA firms.
As of 6.30.2024 unless otherwise noted. | 1. Assets under management is as of 6.30.2024 and Assets under advisement are as of 12.31.2023. Some AUA data is on a 45- to 90- day lag due to confirming away assets. | 2. “Assets under supervision” includes regulatory assets under management; assets under advisement; and non-securities currency assets under management. For these purposes: (1) regulatory assets under management (“RAUM”) is calculated in accordance with Instruction 5A of Form ADV and includes all assets of securities portfolios (both discretionary and non-discretionary). (2) Some assets under advisement (“AUA”) are on a 45-to-90-day lag due to time needed to confirm away assets. (3) Currency assets under management includes AUM associated with (i) active and passive currency risk management products $166.71 billion, (ii) non-fx overlay strategies such as equitization and beta overlays $602.60 million, and (iii) alpha strategies $1.78 billion. In all such cases, AUM is calculated based on notional value of currency investments. Additionally, AUM for alpha strategies is adjusted because clients can select a volatility target (generally between 2% and 12% annualized), which is normalized to 2% in order to create a consistent depiction of alpha strategy AUM. This results in a “scaled” AUM, which is higher than the actual aggregate notional value of all alpha strategy portfolios if clients have selected a volatility target higher than 2%. As of 6.30.2024, the “unscaled” AUM for alpha strategies was $434.68 million.
Award recognition disclosures: https://www.mesirow.com/award-recognition-disclosures
