PALM BEACH, Fla. – Jan. 2, 2008 – GenSpring Family Offices (formerly Asset Management Advisors), the wealth management firm for ultra high net worth families, announced today the acquisition of Inlign Wealth Management, LLC. Based in Phoenix and founded by Mark Feldman in 2002, Inlign is the leading wealth management firm in the Southwest, with more than $2 billion in assets under advisement. The combined firm will assume the GenSpring Family Offices name, serving over 600 families with nearly $15 billion in assets under advisement. Terms of the transaction were not disclosed.
Once limited to a few of the world’s wealthiest families, the benefits of the family office business model are becoming known to a wider circle of ultra high net worth clients. As a result, both firms have been growing rapidly. The GenSpring model is built on three family office principles: complete separation of advisors from the makers of financial products, pre-set size limits on number of clients per advisor, and a strictly integrative approach that treats financial capital and human capital as part of a whole system.
The structure eliminates all conflicts of interest to ensure objectivity and transparency, ensures total focus on the family at a personal level, and removes financial service boundaries so that all dimensions of wealth management can work in concert for each family.
“As we continue to deliver on our strategy of market leadership through national and international growth we’re carefully assessing the approach to families, capabilities and culture of various wealth management firms,” said Maria Elena Lagomasino, CEO of GenSpring. “During this process it became readily apparent to us that Inlign is a strong fit across the board. Their staff is passionate about working with families, and their location in Phoenix supports our plans for national growth. Most importantly, Inlign shares our approach to being on the family’s side of the table and working on behalf of their best interests. We are thrilled to have them join the growing GenSpring family.”
“This agreement signifies two successful wealth management firms coming together to best meet the unique needs and challenges of ultra high net worth families,” said Mark Feldman, CEO of Inlign Wealth Management. “We’re particularly excited about the opportunity to contribute to GenSpring’s outstanding growth as part of a team for whom we have the utmost respect. We possess similar philosophies around serving client families, and we look forward to sharing best practices and learning from each other to the betterment of our clients.”
About GenSpring Family Offices
Founded by families for families in 1989 as Asset Management Advisors (AMA), GenSpring Family Offices, an affiliate of SunTrust Banks, Inc. (NYSE:STI), is one of the nation’s premier wealth management firms for ultra-high net worth families. With nearly $15 billion under advisement, GenSpring has been chosen by more than 600 families to manage their wealth across generations. GenSpring is headquartered in Palm Beach Gardens, Florida and has local family offices in Atlanta, Charlotte, Greenwich, New York City, Miami, Orlando, Palm Beach, Tampa Bay, Sarasota, Washington, DC and Phoenix. For more information please visit www.GenSpring.com.
