Wealthspire Advisors Acquires California RIA 

Wealthspire Advisors has added a California-based registered investment advisor firm through its newly merged entity, Ground Control Business Management. 

Los Angeles-based Ceres Financial Management, founded in 2008, offers business-related services, wealth management, accounting, and estate planning to high-net-worth clients across the entertainment industry. 

Wealthspire’s latest addition marks the firm’s second acquisition following the firm’s reconstruction, after Aon’s $2.7 billion buyout by private equity firm Madison Dearborn Partners in November. 

Under the acquisition of Ceres Financial Management, Wealthspire will incorporate Ceres into Ground Control’s brand and operation. Ceres’ founder and leader Craig Shenkler will join Ground Control as a managing director and will report to CEO Chris Bucci. 

“We’re looking forward to joining Wealthspire and Ground Control, a growing name as an expert in business management,” Shenkler said. “Our clients continue to face new considerations and challenges, so tapping into Wealthspire’s extensive expertise and capabilities across risk, human capital, wealth, and retirement will level up the service we can provide.” 

Wealthspire’s first post-deal acquisition was Red Bank, NJ-based RoundAngle Advisors, which oversees about $176 million in total client assets. 

Ground Control Business Management, which was one of the four firms that were spun off in the reconstruction, provides financial planning, tax services, estate planning, and family office services, including HR support, bookkeeping services, and cashflow analysis. 

Wealthspire was formed in 2019, after NFP acquired Maryland-based Bronfman Rothschild and integrated the firm with New York-based Sontag Advisory to form a combined RIA with about $10 billion in total assets.