Kansas City area-based registered investment adviser (RIA) Fortis Capital Advisors has acquired New Jersey-based Next Horizon Advisors.
The $200m transaction comes as Fortis Capital seeks to continue to expand across the US and aggressively grow its adviser as well as client base.
Go deeper with GlobalData
Founded in 2014 by Shrikant Nadkarni, the acquired entity offers comprehensive wealth management and planning solutions for business owners, professionals and senior-level executives.
Fortis Capital CEO Rob Hagg said: “Next Horizon’s impressive history and comprehensive approach to their client’s needs, directly aligns with the core values of Fortis Capital.
“When making an acquisition of this type, it is so important to keep all core values aligned. It was very clear during the process that our firms were a perfect fit and we are very lucky to have the talent and consultation of Shree throughout this process and for years to come.”
Fortis Capital specialises in investment advisory services, including discretionary and non-discretionary investment management and financial planning and consulting services. It caters to individuals, corporations, retirement plans, pensions, and investment companies.
Additionally, the firm provides a platform featuring technology, compliance, back-office support and wealth management as well as planning resources for advisers.
Commenting on the deal, Nadkarni said: “I am delighted to join the Fortis Capital Advisors team which brings a depth of experience and passion for helping clients reach their financial aspirations. With the support of the Fortis investment management and administrative teams, our ability to serve clients will be greatly enhanced.”
This week, US-based investment firm Stephens agreed to acquire minority ownership in CRUX Asset Management through its wholly-owned subsidiary entity.
