Credent Wealth Management to Accelerate Growth with Capital Infusion from Crestline Investors
2024年7月23日 - 10:00PM
CX Institutional, LLC d/b/a Credent Wealth Management (“Credent”),
a $2.6 billion RIA headquartered in Indiana, has announced a
strategic investment from Crestline Investors (“Crestline”), an
alternative investment manager with over $18 billion in AUM. The
funds will fuel Credent’s already active M&A strategy and be
used to further invest in the business, specifically Credent’s
Advisor Solutions platform (“CAS”), a TAMP that leverages Credent’s
best-in-class shared services platform to support independent
advisors.
Since launching in 2018, Credent Wealth Management has
experienced robust organic and inorganic growth, completing over 12
acquisitions. Credent’s growth has been driven through an
integrated approach and investment in shared services, allowing
advisors to focus on client service and growing their businesses.
The firm is led by an industry-leading executive team that will
continue in their existing roles through the partnership with
Crestline.
David Hefty, CEO of Credent Wealth Management, emphasized the
strategic importance of the partnership, “The collaboration with
Crestline allows us to continue our growth trajectory, accelerate
investment in the business, and expand our national presence while
maintaining our commitment to exceptional client service and to
building a forever firm owned by our advisors.”
“Credent has an exceptional management team with a strong track
record of growth and is a perfect example of the types of companies
we seek to support with Crestline’s flexible capital solutions,”
said Albert Hicks, Vice President at Crestline. “We believe Credent
is well-positioned to continue to execute its growth strategy in an
attractive, consolidating industry with its client-first approach
and differentiated investment platform solutions to advisors.”
Crestline's investment will support Credent's growth and
development initiatives. Specifically, it will be used to fund
additional M&A, invest in human capital to support expansion,
and to further develop the Credent Advisor Solutions platform,
which allows advisors to run their own firm with additional support
from the Credent shared services team or to join Credent’s RIA as
an independent advisor.
“Credent had strong interest from a lot of high-quality
institutional investors, and kudos to Crestline for creating a
solution that was right for the company,” said Dan Seivert, CEO and
Managing Partner of ECHELON Partners, who served as Credent’s
investment banker, “We are excited to see the yield and growth of
this partnership in the years to come.”
ECHELON Partners served as Credent’s exclusive financial advisor
on the transaction, while Katz Teller served as its legal counsel.
Alston & Bird served as legal counsel to Crestline.
About Credent Wealth Management
Credent Wealth Management offers commission-free, transparent,
and impactful advice through financial planning, investment, and
client-centric services. Credent has successfully acquired 12 RIAs
in the past six years through a model that provides advisors with
cooperative, customized transitions. In 2023, Credent was
recognized by Forbes as one of the top RIA firms in the U.S.
About Crestline Investors, Inc.
Crestline Investors, Inc. is an alternative investment
management firm founded in 1997 and based in Fort Worth, Texas,
with affiliate offices in London, New York City, Toronto and Tokyo.
The firm has approximately $18 billion in assets under management
(as of December 31, 2023), and specializes in private credit
strategies, offering a diverse range of investment solutions across
its direct lending, opportunistic, and portfolio finance platforms.
For more information, visit www.crestlineinvestors.com.
About ECHELON Partners
ECHELON Partners is a Los Angeles-based investment bank
that provides a wide array of world-class investment banking,
valuation, and consulting services to the wealth and
investment management industries. For more information, visit
www.echelon-partners.com.
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