Constellation Wealth Stakes in $7.6B Confluence Financial Partners

Pittsburgh-based registered investment advisor Confluence Financial Partners has secured an undisclosed minority stake from private equity firm Constellation Wealth Capital. 

The investment will enable Confluence to further its expansion, long-term growth, and resources. 

As part of the minority stake, Confluence’s leadership team will remain unchanged and will continue to be led by CEO and co-founder Greg Weimer. 

“We want to continue building a successful firm, one that strives to provide high-quality financial advice to clients, creates meaningful opportunities for our people and gives advisors the resources and support needed to serve clients effectively,” Weimer said. 

Specific terms of the investment were not disclosed. 

Constellation Wealth’s latest stake comes after the firm also made a minority investment in Atlanta-based RIA BIP Wealth, as the firm looks to accelerate expansion across the Southeast and beyond.  

Constellation Wealth’s investment will go towards supporting additional partnerships with other wealth management firms and bolster BIP’s succession and growth solutions. 

Constellation Wealth has also bought stakes in other wealth management firms, including Merit Financial Advisors, Procyon Partners and Cresset Asset Management.   

Pennsylvania-based Confluence Financial Partners oversees roughly $7.6 billion in assets under management as of August 18 and operates across five offices in Pennsylvania as well as in Bonita Springs, Florida.