Arkansas-based wealth management firms Legacy Capital Wealth Partners and Trent Capital Management have merged operations, resulting in the creation of one of the largest RIAs in the state.
The combined entity will trade as Legacy Capital and remain headquartered in Little Rock.
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It has over $525m in assets under management and advisement along with in-force life insurance of over $2.5bn.
Established in 1977, Legacy Capital specialises in wealth management services, including financial planning, asset management, legacy and estate planning as well as insurance solutions.
The merger is said to provide Legacy Capital clients and advisers with access to one of the largest money manager platforms in the country in addition to various in-house managed portfolios and strategies.
Additionally, they will be provided with an in-house financial and estate planning team and access to institutional quality alternative investments including private equity, hedge funds, and private lending, among others.
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By GlobalDataLegacy Capital president Matt Jones said: “This is a significant positive event for all of our clients and advisers as well as for all of the dedicated people who make up our Legacy Capital team.
“With this merger and the integration of David Trent and the great team that he has built, I believe we have created an organisation that will provide the highest level of service and advice to the affluent and ultra-affluent in our state and region.”
Commenting on the merger, Trent Capital Management founder David Trent said: “Combining resources positions us to thrive and grow beyond the careers of the founders and current owners/leaders to serve our clients and families for generations to come.
He added: “We have spent many hours over the last few months with Legacy’s team and truly feel this is a BIG win for both of our firms’ clients as well as our existing and future advisers.”
Recently, Ohio-based RIA MAI Capital Management acquired Smith Capital Management, thereby expanding its presence to Arkansas.
