Posted 11:42 pm Sunday, July 01, 2012
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Covenant Acquires Tyler’s Bridge Wealth
By CASEY MURPHY
Business Editor
Covenant Multifamily Offices, LLC acquired Bridge Wealth Management, LLC, a privately owned wealth management firm based in Tyler.
Covenant Multifamily Offices is a wealth advisory firm with headquarters in San Antonio. With the acquisition, Bridge Wealth Management, located at 3304 S. Broadway Ave., Suite 202, will be rebranded as Covenant Wealth Management.
“The Covenant Wealth Management presence in Tyler heralds a larger, groundbreaking strategic business initiative,” Covenant Founder/Managing Partner John Eadie said in a prepared statement.
“Most wealth management firms are endeavoring to grow from the ground up, scaling their practices year after year with the goal of one day offering the boutique, high touch family office services reserved for ultra high worth clients.”
With the acquisition, Covenant adds 126 client relationships representing $200 million in investable assets, bringing the firm’s total assets under management to $1.3 billion. The deal marks a significant step toward executing Covenant’s strategic vision, which is to expand its footprint in key markets and to make its integrated services available to a broader high net worth investor market, according to the statement.
Business Editor
Covenant Multifamily Offices, LLC acquired Bridge Wealth Management, LLC, a privately owned wealth management firm based in Tyler.
Covenant Multifamily Offices is a wealth advisory firm with headquarters in San Antonio. With the acquisition, Bridge Wealth Management, located at 3304 S. Broadway Ave., Suite 202, will be rebranded as Covenant Wealth Management.
“The Covenant Wealth Management presence in Tyler heralds a larger, groundbreaking strategic business initiative,” Covenant Founder/Managing Partner John Eadie said in a prepared statement.
“Most wealth management firms are endeavoring to grow from the ground up, scaling their practices year after year with the goal of one day offering the boutique, high touch family office services reserved for ultra high worth clients.”
With the acquisition, Covenant adds 126 client relationships representing $200 million in investable assets, bringing the firm’s total assets under management to $1.3 billion. The deal marks a significant step toward executing Covenant’s strategic vision, which is to expand its footprint in key markets and to make its integrated services available to a broader high net worth investor market, according to the statement.
Bridge Wealth Founder Thomas Smith will continue to head the Tyler practice under the Covenant banner. As director and wealth strategist, Smith’s responsibilities include overseeing all client service, coordinating all efforts to ensure Covenant’s integrated wealth management services are delivered with the highest standards and working with its leadership group to develop and execute strategic growth initiatives of the firm.
“I am excited to join the Covenant family and support the firm’s efforts to expand the brand in North and East Texas,” Smith said. “Covenant Wealth Management brings to our market significant enhancements in talent, sophisticated reporting, planning and communications tools and access to institutional investment solutions. Our clients are simply better served across all disciplines.”
The acquisition was a natural fit, Eadie said, adding that Thomas and his team are champions of professional excellence, integrity and stewardship — the same values Covenant holds dear.
“For the Wealth Management brand, we’ve deconstructed our family office service model, effectively making many of the exclusive, family office-oriented investment strategies, technology and personalized client services attainable to high net worth individuals and families,” Eadie said.
Covenant is a leading provider of independent wealth advisory and investment services to a national market and consists of two advisory practices. Covenant Multifamily Offices serves ultra high net worth clients by providing integrated wealth management services, family governance services, concierge and boutique planning and investment services. Covenant Wealth Management services high net worth clients by providing integrated wealth management services focused on financial planning, investment management and tax planning. With its headquarters in San Antonio, Covenant has offices in Tyler and Dallas and serves more than 240 client families representing more than $1.3 billion in managed assets.
“I am excited to join the Covenant family and support the firm’s efforts to expand the brand in North and East Texas,” Smith said. “Covenant Wealth Management brings to our market significant enhancements in talent, sophisticated reporting, planning and communications tools and access to institutional investment solutions. Our clients are simply better served across all disciplines.”
The acquisition was a natural fit, Eadie said, adding that Thomas and his team are champions of professional excellence, integrity and stewardship — the same values Covenant holds dear.
“For the Wealth Management brand, we’ve deconstructed our family office service model, effectively making many of the exclusive, family office-oriented investment strategies, technology and personalized client services attainable to high net worth individuals and families,” Eadie said.
Covenant is a leading provider of independent wealth advisory and investment services to a national market and consists of two advisory practices. Covenant Multifamily Offices serves ultra high net worth clients by providing integrated wealth management services, family governance services, concierge and boutique planning and investment services. Covenant Wealth Management services high net worth clients by providing integrated wealth management services focused on financial planning, investment management and tax planning. With its headquarters in San Antonio, Covenant has offices in Tyler and Dallas and serves more than 240 client families representing more than $1.3 billion in managed assets.
