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For the primary time in its 115-year historical past, Rothschild Funding Company, a Chicago-based hybrid wealth administration agency owned by Tin Goose Holdings, has made its first acquisition, bringing whole property beneath administration to almost $5 billion. The agency says it plans to purchase extra RIAs.
In a deal that closed on Thursday, Rothschild added Sentinus, a 21-person group in a northern Chicago suburb managing round $1 billion in property for near 1,000 people and 10 company retirement plans. Sentinus CEO Phil Johnson is moving into the function of president at Rothschild, the place he’ll focus on consumer relationships, in keeping with the agency.
Established in 1946 as Reynolds Monetary Group by WWII veteran Richard A. Reynolds, Sentinus was an early adopter of the fee-based monetary planning mannequin within the Seventies. The agency was rebranded in 2012 when it registered with the SEC.
“Partnership supplied higher alternatives to develop in a aggressive area of interest out there,” Johnson stated Tuesday, noting the 2 companies have complimentary cultures, entrepreneurial mindsets, shared visions round progress and the identical hometown.
“Teaming up with one of many business’s longest-running and most profitable wealth managers—and one which shares Sentinus’ values—was a pure transfer and one that may assist us higher serve shoppers and place for progress,” he stated.
Based in 1908, Rothschild gives wealth administration to households and people, entrepreneurs, household holding firms, foundations and endowments, and advises multi-generational trusts and retirement plan sponsors. The merger will convey the agency to nearly 60 staff with about 3,000 particular person shoppers and round 50 retirement plans, 50 firms and 50 charities, per latest SEC filings.
“We look ahead to working with the Sentinus group to draw like-minded monetary advisors, shoppers and companions, increasing our footprint whereas enabling us to offer companies uniquely tailor-made to our shoppers’ wants,” Owen Schnaper, chairman of Rothschild and accomplice at Tin Goose, stated in an announcement.
Johnson stated the agency expects to proceed increasing by means of related offers with different culturally appropriate, growth-minded companies, and desires to create a platform offering succession alternatives because the business continues to mature.
“We’ll be searching for high-touch, unbiased RIAs whose measurement, scope and companies providing are much like what we had at Sentinus,” he stated. “And those that want succession alternatives for advisors.”
The objective is so as to add between $500 million and a billion {dollars} in property yearly by means of acquisitions going ahead, he stated, specializing in companies with complementary services.
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