Los Angeles-based wealth management firm Signature Estate & Investment Advisors (SEIA) announced Tuesday that it agreed to acquire Select Money Management (SMM), an Aliso Viejo, California, RIA with about $1.6 billion in assets under management (AUM).
The deal is expected to close by Oct. 15, Matt Matrisian, President of SEIA, told WSR by email, noting “SEIA approached Select late last year to explore a potential partnership.”
The transaction represents SEIA’s second-largest acquisition to date and expands its Southern California presence with a new Orange County office and 10 additional advisors and staff, the firm pointed out.
With the acquisition, SEIA said it will grow to 28 offices and over 200 employees, and add AssetMark as a new custodial partner.
The deal, meanwhile, “provides a clear succession plan for SMM’s clients and advisors over time, ensuring continuity of trusted relationships while giving expanded access to SEIA’s scale and resources for generations to come,” according to a news release.
Noting that SMM achieved consistent double-digit organic growth over the last several years, SEIA said SMM also adds “specialized expertise in faith-based investing and values-driven financial strategies, complementing SEIA’s own growth trajectory.”
“Select Money Management shares our vision of holistic wealth management and long-term client care,” Matrisian said in the news release. “Like SEIA, they have achieved impressive growth by combining sophisticated financial strategies with a full-service platform that supports clients across investments, planning, and beyond.”
Matrisian added, “Their momentum reflects the same high-quality approach that has fueled SEIA’s success, making them a natural partner as we continue to scale nationally and build a destination for top-tier advisors and their clients.”
“This partnership is about continuity and care,” according to Tony Amaradio, Founder and Chief Strategist of Select Money Management. “Our clients will continue working with the same trusted advisors they know, now with access to SEIA’s expanded resources and capabilities.”
Amaradio added, “Partnering with SEIA provides the stability, scale, and succession planning needed to serve families for generations to come.”
Greenberg Traurig served as legal counsel to SEIA for the transaction and Transaction Legal Services was legal counsel for Select Money Management.
SEIA’s Growth Strategy
The SMM deal comes less than six months after SEIA appointed Matt Matrisian as President. He co-leads SEIA’s national growth strategy with Brian Holmes, its CEO and Co-Founder, according to the firm.
Since receiving backing from New York-based private equity firm Reverence Capital Partners in 2022, SEIA has been accelerating its M&A strategy and national expansion.
SEIA now has more than $30 billion in assets under advisement (AUA), with a target to reach $100 billion over the next five years through a “three-pronged approach” that it said includes advisor recruitment and development, acquiring culturally aligned firms, and enabling internal expansion through its hub-and-spoke model.
The SMM acquisition is SEIA’s third since launching its M&A strategy in late 2023 and its first since hiring Matrisian, the firm pointed out.
“Since 2023, we’ve achieved consistent double-digit year-over-year AUM growth, underscoring the strength of our organic growth engine,” Matrisian told WSR on Tuesday. “Looking ahead, we aim to expand our physical footprint by 20% to more than 30 offices nationwide by the end of 2025 [and] reach $50 billion in AUM in the near term,” he said.
He added, “Last year, we expanded through the acquisitions of Cedar Brook, a $2 billion RIA in Cleveland, and Beverly Investment Advisors. … While we continue to actively pursue additional opportunities, our M&A strategy remains centered on cultural alignment and ensuring we can fully support the long-term goals of the founders and teams we partner with.”
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
