Emigrant Partners Takes Minority Stake in MONECO Advisors

Emigrant Partners announced a strategic, non-voting minority investment in MONECO Advisors LLC; the third direct investment in 2023 for the $90 billion private equity firm focused on independent wealth management and expands its current portfolio to 21 platform investments.

The percentage stake and financial terms of the deal were not disclosed.

Moneco is an independent wealth management business headquartered in Fairfield, CT, managing $1.5 billion in assets across more than 2,300 clients.

EP President and CEO Jenny Souza cited MONECO’s client service model, partnership platform, organic growth rate, leadership team and geographical location as key attractions.

“EP’s alignment with our vision allows us to maintain our core mission of putting ‘clients first, always’, while simultaneously providing us the scale to position our firm for long term success through both organic and inorganic growth,” said Charlie Rocco, a managing partner at MONECO.

Emigrant’s platform investments include $25 billion Ohio-based Stratos Wealth Partners; $5 billion Massachusetts-based F.L.Putnam Investment Management and Tennessee-based Gerber | Taylor with about $13 billion in client assets.

Founded in 1980, MONECO has about 50 employees, including almost 40 advisors, across five offices in Connecticut, Rhode Island and New Jersey.

Republic Capital Group served as MONECO’s exclusive financial advisor. Finn Dixon & Herling LLP served as MONECO’s legal counsel.