Crestline Investors Buys Minority Stake in Credent Wealth Management 

Crestline Investors, an alternative investment manager, has purchased a minority stake in RIA Credent Wealth Management to accelerate “long-term growth” and “flexibility.”  

The undisclosed stake will allow Credent to expand its footprint nationwide, while continuing to promote its financial advisors and its “client-first philosophy and advisor-led ownership,” the company said. 

“This partnership strengthens our ability to do what we do best: serve hardworking Americans who earn more than they spend and value advice rooted in transparency and trust,” David Hefty, CEO of Credent Wealth Management, said. “Crestline’s support allows us to grow on our own terms by preserving our independence, investing in our people, and expanding the reach of the Credent experience to more advisors and clients across the country.” 

Hefty and his wife, Stacy Hefty, own a majority stake in Credent, according to Securities and Exchange Commission documents. 

The investments will go towards expanding various initiatives, which include Credent’s Advisor Solutions platform, which is a turnkey asset management program that offers advisors access to Credent’s services and investment infrastructure. 

The investment will also be used to support existing and new advisor onboarding, “reinvestment” in capital, technology, and platform enhancements, and to provide liquidity to retiring advisors. 

This comes after Credent raised $50 million in debt financing, with support from Crestline, last July. The funding goes towards supporting Credent’s growth, M&A activity, and development initiatives. 

Recently, Crestline launched the Crestline Lending Solutions Fund, which is a perpetual private Business Development Company. The vehicle will focus on core and lower middle market direct lending, complemented by tactical allocations to other forms of private credit, offering investors diversified exposure across private credit opportunities.  

In July, Credent acquired Michigan-based TFG Advisors, which manages about $420 million in assets under management. The transaction marked the firm’s first deal for the year. 

Indiana-based Credent Wealth Management, was launched in 2018, after the merger of RIA Hefty Wealth Partners and Michigan-based Oak Point Financial Group. The firm oversees about $4 billion in assets under management. 

Fort Worth, TX-based Crestline Investors was founded in 1997 and has about $18 billion in assets under management as of June 30, the firm said.