United Capital Nets Two Firms With Combined $800 MillionUnited Capital Nets Two Firms With Combined $800 Million
United Capital is bringing in hundreds of millions in assets and a baker's dozen in new personnel.
United Capital is expanding its footprint into Atlanta and the Quad Cities with a two-firm acquisition that will add more than $800 million in assets under management to the agreggator of registered investment advisor firms. Moline, Ill.-based Irongate International and Atlanta-based Peachtree Investment Advisors will be joining Joe Duran's firm, which tallies $23 billion in AUM.
Attracted by United Capital's tool kit and back-office support, Irongate currently manages $455 million in AUM across 56 high-net-worth households. “United Capital is on the cutting edge of behavioral finance technology that may help create enormous value with our next-generation households," said Irongate COO Tony Carpita. He will join as a managing director, alongside eight other employees from Irongate, including the firm's founder, Patrick Trimble.
Peachtree's three partners, all over the age of 50, joined United Capital "to secure the succession of their business," according to the announcement. Peachtree expects to bring over $345 million in AUM across 100 HNW households. All four of the company's employees will join United Capital.
While the acquisitions will help United Capital grow its RIA AUM, the firm's white-label technology platform, FinLife Partners, has also been growing. It is expected to be twice the size of the RIA by the end of 2019.
