RIA Giant Corient Acquires $5.6M Vivaldi Capital Management

Corient has acquired an Illinois-based registered investment advisory firm, which oversees $5.6 billion in assets under management. 

Chicago-based Vivaldi Capital Management, founded in 2012 by CEO and co-founders David Sternberg and Randal Golden, is an employee-owned wealth manager and offers “comprehensive” wealth management services, including investment management, wealth planning, risk management, retirement planning, and family office services to ultra-high- and high-net-worth clients. 

Following the transaction, which is expected to close in the second quarter of the year, Vivaldi’s principals will become Corient partners upon the deal’s closing, Corient said. 

“Joining Corient enables us to continue delivering highly personalized service, enhanced by an expanded suite of Corient’s wealth management and family office capabilities,” Sternberg said. 

According to the firm’s latest Form ADV updated on March 31, Sternberg, Golden, and other Vivaldi executives owned the firm, alongside stakeholder First Trust Capital Partners. 

Corient’s addition marks the RIA’s second transaction for the year, following the acquisition of Palo Alto, CA-based RIA Palo Alto Wealth Advisors, which oversees $767 million in total client assets. 

In September, the RIA also acquired two U.K.-based financial advisory firms, which added more than $214 billion in combined client assets, as the RIA expanded its global footprint into Europe, the Middle East, and Africa. 

Miami-based Corient Private Wealth, founded in 2020, which is also the wealth subsidiary of Canadian asset manager CI Financial, has more than 1,300 employees overseeing a total of about $224 billion in assets under management.