Crow Point Partners, a $150m specialty asset manager based in Massachusetts, has agreed to purchase a minority interest in Ohio’s Oak Park Wealth Management.
Financial terms of the transaction were not revealed.
A $20m business, Oak Park describes itself as a specialist in investment strategies that aim to enhance traditional portfolio management.
Under the agreement, Crow Point will provide private wealth management and family office services under the Oak Park brand.
Commenting on the alliance, Oak Park founder Dan Doyle said: “Crow Point enhances our investment process and research, helping us offer adaptable strategies to navigate both changes in life and the market.
“The combination of our sophisticated tax planning and fiduciary client model with Crow Point’s world-class risk management and investment process is a value add for clients.”
Crow Point president and CEO Peter DeCaprio calls private wealth services a “natural extension” of its operations.
DeCaprio noted: “Our outsourced CIO model is designed for the benefit of small advisers like Dan.
“A systematic approach to asset allocation allows Oak Park to focus on client service and asset gathering while we advise on portfolio positioning and other strategic asset allocation issues.”
Crow Point leverages utilises qualitative as well as quantitative research in its investment approach.