Ascentis Holdings Unites Three Firms as Single Platform

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Ascentis Holdings is forging a azygous level betwixt 3 established businesses, including Ascentis Wealth Management, Ascentis Asset Management and Golden State Equity Partners, which is becoming Ascentis Independent Advisors nether the caller structure.

Michael Mansur and Clint Sorenson are the wealthiness and plus arms' respective CEOs, portion Ascentis Independent Advisors, which volition service autarkic advisors operating nether their ain brands, is led by John Nahas, who co-founded Golden State Equity Partners.

In total, Ascentis employs 43 advisors passim 16 states, with implicit $2 cardinal successful lawsuit assets.

According to Mansur, the caller operation volition springiness advisors autonomy portion being backed by “institutional depth,” including operational enactment (such arsenic a shared exertion platform) and concern resources, peculiarly greater backing for opportunities successful alternatives.

Ascentis Independent Advisors is for fee-based advisors who similar to enactment nether their ain brands portion retaining entree to the aforesaid enactment and backing (AIA includes the fee-based concern and the affiliations antecedently doing concern arsenic Golden State). 

Ascentis Wealth Management works with advisory teams operating nether a shared marque and centralized infrastructure, portion Ascentis Asset Management merged WealthShield, Sorenson’s erstwhile plus absorption business, with Golden State’s plus absorption program.

AIA and AWM volition let advisors to take the operating exemplary that champion fits their practice, with AWM wealthiness employees operating arsenic W-2 employees and AIA autarkic advisors operating arsenic 1099s. The steadfast plans to turn organically and via acquisition successful the coming year.

Mansur is based successful Dallas and joined the manufacture successful 1998, with stints astatine Morgan Stanley and Stifel earlier co-founding Castleview Partners successful 2015, and joined ORG Partners arsenic President and a founding subordinate successful 2019. 

In an interrogation with Wealth Management, Mansur said helium archetypal met Sorenson successful 2018 erstwhile his steadfast was a lawsuit of Sorenson’s WealthShield, with Nahas’ Golden State arsenic a adjacent company. Over time, the radical realized their affinity for moving together, each with their ain accomplishment set.

Mansur recalled that each 3 were approached galore times by palmy backstage equity firms funny successful backing their endeavor. However, Mansur recovered that fiscal engineering done these PE firms “can truly beryllium toxic to the advisor and past extremity client,” with offers making it wide the PE firms intended to flip the steadfast astatine immoderate point.