Investment to Drive Further M&A Activity and Growth for the Leading RIA
Auburn, IN, July 23, 2024 (GLOBE NEWSWIRE) — CX Institutional, LLC d/b/a Credent Wealth Management (“Credent”), a $2.6 billion RIA headquartered in Indiana, has announced a strategic investment from Crestline Investors (“Crestline”), an alternative investment manager with over $18 billion in AUM. The funds will fuel Credent’s already active M&A strategy and be used to further invest in the business, specifically Credent’s Advisor Solutions platform (“CAS”), a TAMP that leverages Credent’s best-in-class shared services platform to support independent advisors.
Since launching in 2018, Credent Wealth Management has experienced robust organic and inorganic growth, completing over 12 acquisitions. Credent’s growth has been driven through an integrated approach and investment in shared services, allowing advisors to focus on client service and growing their businesses. The firm is led by an industry-leading executive team that will continue in their existing roles through the partnership with Crestline.
David Hefty, CEO of Credent Wealth Management, emphasized the strategic importance of the partnership, “The collaboration with Crestline allows us to continue our growth trajectory, accelerate investment in the business, and expand our national presence while maintaining our commitment to exceptional client service and to building a forever firm owned by our advisors.”
“Credent has an exceptional management team with a strong track record of growth and is a perfect example of the types of companies we seek to support with Crestline’s flexible capital solutions,” said Albert Hicks, Vice President at Crestline. “We believe Credent is well-positioned to continue to execute its growth strategy in an attractive, consolidating industry with its client-first approach and differentiated investment platform solutions to advisors.”
Crestline’s investment will support Credent’s growth and development initiatives. Specifically, it will be used to fund additional M&A, invest in human capital to support expansion, and to further develop the Credent Advisor Solutions platform, which allows advisors to run their own firm with additional support from the Credent shared services team or to join Credent’s RIA as an independent advisor.
“Credent had strong interest from a lot of high-quality institutional investors, and kudos to Crestline for creating a solution that was right for the company,” said Dan Seivert, CEO and Managing Partner of ECHELON Partners, who served as Credent’s investment banker, “We are excited to see the yield and growth of this partnership in the years to come.”
ECHELON Partners served as Credent’s exclusive financial advisor on the transaction, while Katz Teller served as its legal counsel. Alston & Bird served as legal counsel to Crestline.
About Credent Wealth Management
Credent Wealth Management offers commission-free, transparent, and impactful advice through financial planning, investment, and client-centric services. Credent has successfully acquired 12 RIAs in the past six years through a model that provides advisors with cooperative, customized transitions. In 2023, Credent was recognized by Forbes as one of the top RIA firms in the U.S.
About Crestline Investors, Inc.
Crestline Investors, Inc. is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York City, Toronto and Tokyo. The firm has approximately $18 billion in assets under management (as of December 31, 2023), and specializes in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.
About ECHELON Partners
ECHELON Partners is a Los Angeles-based investment bank that provides a wide array of world-class investment banking, valuation, and consulting services to the wealth and investment management industries. For more information, visit www.echelon-partners.com.
CONTACT: Ficomm Partners pr@ficommpartners.com
