San Diego Firm to Become Aspiriant’s Ninth Office Nationwide; Fourth in California
LOS ANGELES – (Tues., Nov. 10, 2015) — Aspiriant, a leading independent wealth management firm in the U.S., and Hokanson Associates, a top independent wealth management firm in San Diego, have entered into an agreement in which Hokanson Associates will merge into Aspiriant on December 31, 2015. The merger of the two independent wealth management firms will expand Aspiriant’s regional strength in San Diego, expand services and benefits for clients of both firms and increase Aspiriant’s pool of talent and expertise in serving clients.
Hokanson Associates, which has been one of the San Diego region’s most highly regarded independent investment advisors for more than 25 years, has $570 million in assets under management, 270 clients and 12 employees. Under terms of the merger, Hokanson partners will contribute assets of their firm in exchange for ownership shares in Aspiriant. All former Hokanson partners will be Aspiriant owners and all employees will be offered jobs.
Aspiriant, an industry-leading national firm, has $8.4 billion of assets under management and advisement, 950 clients and 135 employees in eight cities throughout America. Hokanson’s San Diego office will become Aspiriant’s fourth office in California and ninth in the country. (Other offices are Los Angeles, San Francisco, Irvine, New York, Boston, Cincinnati, Milwaukee and Minneapolis.)
“This merger represents the continuing strength of Aspiriant’s client service strategy,” said Rob Francais, CEO of Aspiriant. “Our strategy focuses on expanding our talent pool so we can bring that collective wisdom to each client relationship and on growing our asset base so we can transform the investor experience by leveraging the additional scale to achieve better pricing, efficiencies and access to investment opportunities.”
“Through this merger, we will immediately realize many benefits for our clients,” said Neil Hokanson, president of Hokanson Associates. “It will give us a larger dedicated professional team with the kind of talent and expertise clients value and we’ll be able to offer a greater breadth and depth of investment and financial planning resources. Importantly, it will provide the assurance of a long-term succession plan so that we can continue to serve generations of our clients — now and in the future.”
According to both CEOs, the merger is a solid fit for both firms. “We are cut from the same cloth,” said Francais. “Both firms have strong leadership, focused client-service orientation and similar cultures, core values and financial planning/ investment philosophies. Equally important, we each have deep levels of professional expertise and an unwavering focus on long-term stability and continuity in serving generations of clients.”
Aspiriant is a leading independent wealth management firm in the U.S., with more than $8.4 billion of assets under management and advisement. The firm provides a full range of wealth management services for 950 individual and family office clients throughout the country. Unlike many other wealth management firms, Aspiriant is 100 percent owned by key current and former employees, which ensures its long-term stability and independence. It has offices in Los Angeles, San Francisco, Irvine, New York, Boston, Cincinnati, Milwaukee and Minneapolis. It was founded in 2008 through the merger of independent wealth management firms Quintile (Los Angeles) and Kochis-Fitz (San Francisco).
About Hokanson Associates
Hokanson Associates, which has been one of the San Diego region’s most highly regarded independent investment advisors for more than 25 years, offers financial planning and investment management services for high net-worth clients. It has $570 million in assets under management, 270 clients and 12 employees. It was founded in 1987 by Neil Hokanson and Linda Kitchens.
What’s Been Written
|Aspiriant to add $570 million San Diego RIA to its Ranks|