New York, NY, March 3, 2021 – Park Sutton Advisors, LLC (“Park Sutton Advisors”) is pleased to have represented North American Management (“NAM”) on its sale to Wealth Enhancement Group (“WEG”), a national Registered Investment Adviser. Boston-based NAM was founded in 1928 and currently manages approximately $1.8 billion in client assets. Terms of the transaction were not disclosed.
North American Management Chairman and CEO Robert Scott said, “As a firm with a long tradition of building and sustaining multi-generational client relationships, the needs of the individuals, families and institutions who entrust us with their financial future have always been paramount in our decision-making processes. Our goal in identifying a new strategic partner was not simply to join a larger platform, but to find a home for our clients that will last for decades to come as we work to guide them toward their financial goals.”
Park Sutton Advisors’ Steven Levitt and Annie Tronoski co-led the assignment. “Well-established wealth managers are seeking long-term solutions to enhance the client experience. Groups like NAM who have a long history providing financial advice can leverage a partner for marketing support and additional services for their high-net-worth and smaller institutional client bases,” stated Steven Levitt. He added, “I have known NAM for over 20 years and am pleased it has found the right home for continued success.”
Park Sutton Managing Director, Annie Tronoski stated, “As the average wealth firm faces challenges to achieve organic growth, joining a tech-savvy, marketing driven RIA like WEG provides a unique opportunity for sellers to diversify and accelerate their growth while still maintaining their client-focused culture of investment and planning excellence. We wish continued success to NAM and WEG as they begin their future together.”