Wipfli Financial Advisors, LLC, a national wealth management firm with over $5 billion in assets under management, announced that it has entered into an agreement to acquire Redwood Wealth Management, LLC, a fee-only, independent advisory firm located in Alpharetta, Georgia with over $300 million in assets under management.
Redwood expands Wipfli Financial’s presence into the southeast U.S. while also bolstering the firm’s team of experienced professionals.
Redwood has a 20-year history of taking a personalized approach in helping its clients create financial plans to preserve, enhance and ultimately transfer their wealth. The firm, led by Shawn Meade and Lane Steinberger, will bring seven new colleagues to the Wipfli Financial team.
The firms’ alignment on shared values, culture and operating philosophy was a key to the agreement.
“From their technical expertise to their planning-first philosophy, Redwood brings exceptional professionals to our team,” said Jeff Pierce, principal and chief executive officer at Wipfli Financial. “Their incredibly strong alignment with our firm’s culture, mission, and values is going to enable an important transition for clients and empower both teams to deliver a high-quality and consistent client experience.”
By joining Wipfli Financial, Redwood gains access to the firm’s dedicated back office teams — which includes client service, investment resources and operations — and will allow its financial advisors to dedicate more time to serving clients and growing the firm. Redwood and its clients will also benefit from Wipfli Financial’s affiliation with Wipfli LLP, a top 20 national accounting and consulting firm that provides a significant variety of services, including tax, business valuation and transaction support, strategic planning, technology, cybersecurity and more.
“Both firms put our people first,” said Shawn Meade, partner and wealth manager at Redwood. “Whether it’s delivering an exceptional client experience or giving our team members the opportunities they need to continue growing, we share the same values. By joining together, we can take our commitment to our clients and associates to the next level.”
Lane Steinberger, partner and chief investment officer at Redwood, said the firms’ alignment extends beyond just their cultures.
“Wipfli Financial and Redwood also share the same investment philosophy and how we serve clients,” Steinberger said. “Because we take the same evidence-based approach to investing and we share the same philosophy in serving clients with comprehensive financial planning across each aspect of their lives, we knew Wipfli Financial was the right firm to join. We look forward to growing as one firm.”
The transaction is expected to close on December 31, 2021. Redwood will take on the Wipfli Financial brand moving forward.