Transactions

Park Sutton advises Heron Wealth, a top New York RIA

New York, NY, March 23, 2023 – Park Sutton Advisors, a Waller Helms Company (“Park Sutton Advisors”) is pleased to have represented Heron Financial Group, LLC (“Heron”) on its acquisition by Wealthspire Advisors, LLC (“Wealthspire”), a leading Registered Investment Adviser (“RIA”) with $19 billion in assets under management and advisement (“AUM/A”). Heron is based in New York, NY.

“For three decades, we adapted our firm to meet the evolving needs of our clients,” said David Edwards, President of Heron. “We are thrilled to join with Wealthspire Advisors to add additional capabilities as we advise the ever more complex requirements of modern families.” 

Mike LaMena, CEO of Wealthspire, said, “We are delighted to welcome David Edwards and the Heron team to Wealthspire. The addition of this experienced team deepens our New York City presence with talented professionals who are committed to delivering an amazing client experience built on a foundation of trust and fiduciary care.”  

Park Sutton Advisors Managing Director, Steven Levitt, who led the transaction, said, “David Edwards is an incredible talent in wealth management. He wanted to find a partner that would help Heron expand its capabilities and enhance the client experience. A partnership with Wealthspire will help reach these goals and we are excited to see what the two firms accomplish together.” Donald Schipf, CFA, Director at Park Sutton Advisors, added, “Under David’s leadership, Heron’s marketing expertise was a key differentiator. We congratulate David, his Heron colleagues, as well as the Wealthspire team, and look forward to their continued success.”