In a pivotal development for the wealth management industry, Soltis Investment Advisors, a distinguished Registered Investment Adviser managing over $9 billion in client assets, has entered into a strategic partnership with Estancia Capital Partners and LLR Partners. This collaboration is set to inject a significant amount of growth capital into Soltis, further empowering their comprehensive wealth management and retirement plan services. This partnership not only aims to enhance Soltis’s service offerings but also supports its ambitious plans for expanding its team and exploring new acquisitions.

Strategic Implications of the New Partnership

The investment from Estancia and LLR is expected to bring numerous benefits to Soltis, including additional resources and expertise that will help the firm in its strategic initiatives. According to Dana Alan Kurttila, Managing Director at Estancia, the partnership is poised to help Soltis enhance its presence and services in the wealth management sector, a market characterized by its size and fragmentation. Takashi Moriuchi, Co-Founder and Managing Director of Estancia, highlighted the management’s innovative approach as a key differentiator in the industry, promising steadfast support for the firm’s growth.

Sam Ryder, Principal at LLR Partners, emphasized the opportunity for Soltis to leverage industry trends favoring independent RIAs, to spur both organic growth and strategic acquisitions. Soltis’s unique platform and talented team position it well to capitalize on these industry dynamics.

Soltis’s Nationwide Expansion and Long-standing Service

Since its inception in 1993, Soltis has consistently served a broad client base across the United States, from its headquarters in St. George, Utah, with expansions into major cities including Salt Lake City, Phoenix, Dallas, Seattle, Novi, and Boston. The firm’s growth over the past five years has led to the establishment of new offices, expanding its reach and enhancing its ability to serve diverse client needs in wealth management and financial planning.

Kim D. Anderson, President and CEO of Soltis, expressed enthusiasm about the new partnership, noting the meticulous process of selecting a partner aligned with the firm’s vision for growth and capability expansion. The partnership is expected to bolster the firm’s compliance, ownership structure, and operational best practices, enhancing client engagement and service delivery.

Future Outlook and Continued Partnership

The new investment partnership is anticipated to provide broader ownership opportunities for Soltis’s employees and support the firm’s growth initiatives. The existing management team will continue in their roles, ensuring continuity in leadership and strategic direction. Hal G. Anderson, Founder and Chairman of the Board at Soltis, acknowledged the invaluable contributions of Emigrant Partners, which will be exiting its investment in the firm. This marks a significant transition, reflecting the success of the firm’s long-term growth strategy.

Jenny Souza, CEO of Emigrant Partners, commended the Soltis management team for their exemplary growth and development under their partnership. The strategic shift towards Estancia and LLR is expected to further enhance Soltis’s capabilities and market position.

Legal and Advisory Framework

The transaction was facilitated by a team of esteemed advisors, with Moelis & Company LLC and Alston & Bird LLP representing Soltis. Estancia received advice from Ardea Partners LP and Dechert LLP, while LLR Partners was counseled by William Blair and Company, LLC and Goodwin Procter LLP.

This partnership represents a significant milestone in the wealth management industry, highlighting the importance of strategic investments in facilitating growth and expansion. The involvement of seasoned investment firms like Estancia and LLR suggests a strong confidence in Soltis’s business model and future prospects. This move is likely to set a precedent for similar deals in the sector, emphasizing the growing importance of strategic partnerships in achieving scalable growth and enhanced service capabilities.

  Estancia Capital Partners, financial advisors, LLR Partners, retirement planning, Soltis Investment Advisors, Strategic Investment, Wealth management