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Rockefeller Acquires $1.5 Billion Wealth Management Business

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Rockefeller Capital Management is acquiring Spearhead Capital’s wealth management business, which has $1.5 billion in assets, according to the company.

The deal accelerates Rockefeller’s expansion, building on previous acquisitions as well as the company’s recruiting efforts targeting elite advisors.

Rockefeller Capital Management, New York, NY.

Courtesy of Peter Aaron Architectural Photography

As part of Rockefeller’s acquisition of Spearhead’s wealth management business, the firm will take on 12 financial professionals serving approximately 70 families. They will operate as the Bostwick Walters Group within Rockefeller’s global family office, according to the firm.

The Bostwick Walters Group is led by private wealth advisors Jarrett Bostwick and Todd Walters. They join Rockefeller’s Southeast Division, led by Kristen Sario. The team has offices in Wellington, Fla., and Beverly, Mass., according to the group’s website.

Christopher Dupuy, co-head of the Rockefeller Global Family Office, and Michael Outlaw, the firm’s national field director, said in a statement that they were pleased to incorporate an elite group of professionals. “It very quickly became clear to us that Todd and Jarrett and their colleagues shared the values and purpose that animate our firm. And it was just as clear that we could help each other grow more effectively together than apart,” Dupuy and Outlaw said.

Rockefeller did not disclose terms of the deal.Since it sprung out of the family office of the same name in 2018, Rockefeller Capital Management has been expanding rapidly. The firm, led by former wirehouse executives, has poached a slew of top advisors from Rockefeller’s larger competitors. It’s also inked a few acquisitions. In 2021, the firm bought Whitnell & Co., an Illinois-based multi-family office services firm.

Write to Andrew Welsch at andrew.welsch@barrons.com