Wealthspire Advisors’ Acquisition of Private Ocean

Wilmer Cutler Pickering Hale and Dorr represented Private Ocean, while Ropes & Gray represented NFP and Wealthspire in the transaction.

Wealthspire Advisors, an NFP company and independent investment adviser, announced a significant step in expanding its national RIA business by signing a definitive agreement to acquire Private Ocean, LLC, a leading fiduciary wealth management firm with $2.7 billion in assets.

Founded in 2009, Private Ocean is the combination of two of the oldest privately-held wealth management firms in the San Francisco Bay Area – Salient Wealth Management and Friedman & Associates. Private Ocean is based in San Rafael, California, with additional offices in San Francisco and Seattle.

Wealthspire Advisors is an independent registered investment advisor with 14 offices in 8 states throughout the Northeast, Mid-Atlantic, and Midwest.

NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement and individual solutions through its licensed subsidiaries and affiliates. 

The Ropes & Gray team was led by mergers & acquisitions partner Thomas Fraser (Picture; Boston).

The WilmerHale team was led by Stephanie Evans and JC Minko on the corporate side and Bill Caporizzo, Scott Kilgore, Timothy Silva and Amy Null on the tax, employment and regulatory side.

Involved fees earner: Thomas Fraser – Ropes & Gray; William Caporizzo – Wilmer Cutler Pickering Hale and Dorr; Stephanie Evans – Wilmer Cutler Pickering Hale and Dorr; Scott Kilgore – Wilmer Cutler Pickering Hale and Dorr; Joseph Minko – Wilmer Cutler Pickering Hale and Dorr; Amy Null – Wilmer Cutler Pickering Hale and Dorr; Timothy Silva – Wilmer Cutler Pickering Hale and Dorr;

Law Firms: Ropes & Gray; Wilmer Cutler Pickering Hale and Dorr;

Clients: NFP Corporation; Private Ocean; Wealthspire Advisors;