The marriage of two Colorado RIAs has produced a new firm with $1.25 billion in assets under management.
Sargent Bickham Lagudis agreed to merge with Colorado Financial Management and assume its name.
Sargent Bickham Lagudis, however, is the larger of the two firms, managing $1 billion in AUM while Colorado Financial has $250 million, according to a statement.
- Read more on New Year deals: Biggest RIA M&A Deals Set Stage for Active 2016
The smaller firm's principals, David Eads and Josh Miller, have become partners in the new firm. Both firms were founded more than 25 years ago by former CPAs.
"This is an important step in ensuring our company will be here for our clients, employees and communities for the next 25 years and more," Brad Bickham, the new firm's managing partner, said in a statement.
The deal expands the former Sargent Bickham's presence in northern Colorado, with offices in Boulder, Denver and Loveland.
David Selig, CEO of Advice Dynamics Partners, advised the firms on the merger.
The new firm now comprises seven partners, nine planners and 27 employees in all, two of whom are former investment bankers, the release says. Nationwide, it serves clients in 25 other states, according to the statement.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access