Core Viewpoint - Two Registered Investment Advisors (RIAs), Greenspring Advisors and Wealthstream Advisors, are merging to form an employee-owned firm managing over $4 billion in private client assets, emphasizing accountability to employees and clients rather than external shareholders [1][2]. Company Overview - The newly formed Greenspring Advisors will manage a total of over $10 billion in assets, which includes $4.3 billion in private client assets and approximately $6 billion in institutional assets [2]. - The firm will have a team of 70 employees, with 23 owning equity in the company, and plans to increase employee ownership [3]. Strategic Focus - The merger aims to enhance the employee-owned structure by allocating more resources to the team, with a focus on building a contiguous operational region from New York to Maryland [5]. - Greenspring intends to develop the best training program in the RIA industry and prefers organic growth over mergers and acquisitions for talent development [6]. Specialization - Wealthstream specializes in financial planning and investment management for high-net-worth individuals and families, while Greenspring focuses on advisory services for institutions and retirement plan sponsors [4].