Flexpoint Ford-Backed Clearstead Boosts Southwest Prescence with Avalon Trust Purchase

Clearstead Advisors, a financial advisory firm focused on high-net-worth and institutional clients and a portfolio company of private equity shop Flexpoint Ford, has increased its footprint in the Southwest with the purchase of Avalon Trust, a Santa Fe, NM-based wealth management business with additional offices in Ridgewood, NJ and Portland, OR.

Financial terms of the deal were not disclosed. Avalon adds $2 billion to Ohio-based Clearstead, bringing its total client assets to approximately $28 billion.

The combined firm will offer in-house and vertically integrated wealth management, trust, tax planning and others to its clients and multi-generational families.

Avalon expands Clearstead’s trust capabilities following its acquisition of Atlantic Trust in 2021. This is the eighth acquisition for Clearstead and the second after Flexpoint made a majority investment in the firm in February last year.

“We are excited to join forces with Avalon. Partnering with the Avalon team furthers our strategy of providing high net worth families across the United States a holistic and differentiated wealth management offering,” said Clearstead Chairman and CEO Dave Fulton.

Avalon has 13 employees headed by Andrew Wallerstein, Christine McDermott and Julia Peters – all of whom are joining Clearstead as partners.

District Capital Partners served as the exclusive financial advisor to Clearstead on the transaction. Colchester Partners served as the exclusive financial advisor to Avalon Trust on the transaction.