SEIA Acquires $2B Cleveland RIA
Signature Estate & Investment Advisors (SEIA), a Los-Angeles based registered investment advisor, will acquire Cedar Brook, a $2 billion RIA based in Cleveland, OH.
Financial terms of the deal, which is expected to close in June, were not disclosed.
The acquisition will bring SEIA’s assets under management to over $22 billion with 155 employees and advisors across 20 offices. Cedar Brook will be SEIA’s first major expansion into the Midwest, and its largest transaction since partnering with private equity firm Reverence Capital Partners in 2022.
“SEIA is positioning itself for strategic national growth opportunities” said Cameron Stagg, director of M&A. “This is just the beginning of SEIA’s M&A endeavors. We expect significant additional acquisitions across the nation.”
The acquisition not only enhances SEIA’s presence in Ohio, Pennsylvania, and Michigan (Cedar Brook has additional offices in Pennsylvania and Michigan) but also complements its recent strategic moves, including its appointment of April Rosenberry, who previuosly was estate planning director at EP Wealth, for advanced trust and estate planning.
SEIA offers comprehensive wealth management services, including client model and custom portfolios, concierge-level service, access to alternative investments, and a new Broker Dealer, Signature Estate Securities.
Founded in 2005 and led by Bill Glubiak, CEO, Cedar Brook offers financial planning, wealth management, retirement plans, employee benefits, insurance solutions, and risk assessment.