SIEA Snags $1.6B Select Money, Adds AssetMark as Custodian

Core Insights - Signature Estate & Investment Advisors (SEIA) has made a significant acquisition of Select Money Management, a registered investment advisor (RIA) with $1.6 billion in assets, marking its second-largest acquisition to date [1] - SEIA aims to reach $100 billion in client assets by 2030, supported by its acquisition strategy and the addition of multiple custodians [2] Group 1: Acquisition Details - The acquisition of Select Money Management adds a new office in Orange County and 10 additional staff members, expanding SEIA's client base across various states [5] - SEIA previously acquired a Cleveland-based firm with $2 billion in assets in April 2024, indicating a strong growth trajectory [1] Group 2: Growth Strategy - SEIA employs a "three-pronged" growth strategy that includes advisor recruitment and development, acquiring culturally aligned firms, and internal expansion through a hub-and-spoke model [3] - The firm has a dual affiliation model, utilizing both 1099 and W-2 employee structures, and is transitioning advisors from the 1099 model to the employee model [3] Group 3: Leadership and Management - SEIA has been rapidly hiring leadership to support its growth, including Matt Matrisian as president, Stephen Masterson as CFO, and Brad Repinsky as director of estate, tax, and financial planning [4] Group 4: Market Position and Performance - Select Money Management has demonstrated consistent double-digit organic growth and specializes in faith-based and values investing, which aligns with SEIA's strategic goals [5][6]