Great Hill Makes Minority Investment in Mission Wealth 

Mission Wealth has secured a minority investment from Great Hill Partners, a Boston-based private equity firm specializing in high-growth companies. The partnership aims to drive Mission Wealth’s organic growth, enhance client services, and support its nationwide expansion while maintaining majority employee ownership. Financial terms were not disclosed. 

Based in Santa Barbara, CA, Mission Wealth has over 35 offices across the U.S. managing $10.7 billion in assets. Founded in 2000, it serves more than 4,100 high-net-worth individuals and families, offering comprehensive services including financial planning, investment management, estate and tax planning, retirement planning, asset protection, charitable giving, and personalized life goal support. 

“This partnership brings vital resources and additional intellectual capital to our firm, enabling us to serve clients in new ways, accelerate our organic growth initiatives, bolster our mergers and integrations team, and further invest in our technology stack,” said Matthew Adams, CEO of Mission Wealth. 

This investment marks Great Hill’s first foray into the RIA space, with Matthew Vettel, a managing director, joining Mission Wealth’s board of directors. The investment aligns with the growing trend of private equity firms entering the wealth management sector, attracted by stable cash flows and consolidation opportunities. Great Hill has been exploring wealth management opportunities since 2023, when it hired John Wernz as an executive-in-residence to identify investment prospects in the RIA and wealthtech spaces. 

In early April, Mission Wealth announced a merger with Brown Wealth Management, an Eden, MN-based firm managing more than $204 million in assets. 

Seward & Kissel served as legal counsel to Mission Wealth, while Great Hill was advised by Ardea Partners LP (exclusive financial advisor) and Goodwin Procter LLP (legal counsel).