Lido Advisors Partners with Constellation Wealth Capital  

Lido Advisors, a registered investment advisor with $19.1 billion in assets under management catering to high-net-worth and ultra-high-net-worth clients, announced that Karl Heckenberg’s Constellation Wealth Capital, an investor in wealth management firms, has become a strategic partner and minority investor, joining Lido’s lead investor private equity firm Charlesbank Capital Partners. 

Financial terms of the deal, which closed in January, were not disclosed. 

“I’ve been observing Lido for a long time and have been impressed by their operating model, value proposition, and leadership team, all of which have enabled the firm to achieve rapid organic and inorganic growth,” said Heckenberg, CWC’s founder and managing partner. 

Lido, founded in 1999 and headquartered in Los Angeles, has been acquiring RIAs since its 2021 transaction with Charlesbank. The firm recently bought $296 million New England RIA Claybrook Capital in December 2023. 

This is the second RIA minority investment announced in the last two days for Constellation. The firm disclosed on Tuesday that it had agreed to invest in Perigon Wealth Management, a $6.5 billion San Francisco-based RIA.