Chicago-based VestGen Wealth Partners has acquired six practices representing roughly $1.5 billion in client assets. This is the firm’s second phase of growth since its launch in December, and the acquisitions are expected to raise its client assets to approximately $7 billion, with 45 advisors.
The acquisitions add 15 wealth management advisors. They include Ursula Daley’s all-female team in Oak Brook, Illinois ($410 million in client assets); Michael Moloney’s team in the St. Louis area ($400 million); Michael Martin’s team in Kansas City, Missouri ($280 million); Jeff Lesniewicz and Brian Ahern’s team in Chicago ($250 million) serving athletes; John Straley’s team in the Chicago area ($219 million) and Jon Lewis in Florida and Michigan ($60 million).
“In less than a year, we have launched an instantly competitive, firm of consequence working to solve the industry’s succession problem without disrupting clients' lives. Bringing six more teams onto one fully integrated wealth management ecosystem is the next step—giving advisors more resources and families uninterrupted, multi-generational care,” VestGen Founder and CEO Josh Gerry said in a release. “We are incredibly well-positioned to leverage this expansion to further support advisors and their clients throughout the country.”
Upon launch, VestGen had 10 practices managing $5.3 billion in assets.
Michael Madden, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at michael.madden@wealthsolutionsreport.com.
