Greenspring Advisors, Wealthstream Advisors Announce Merger
The combined advisory firm has more than $10 billion in private client and institutional assets.
Greenspring Advisors LLC and Wealthstream Advisors Inc. announced Monday an all-stock strategic merger, resulting in a combined firm with more than $10 billion in assets, including $6 billion in institutional assets and $4.3 billion in private client assets, according to the announcement.
“This partnership is the natural next step in a relationship that has been growing for over 10 years,” said Pat Collins, Greenspring Advisors’ co-founder, in a statement. “We share a deep belief in creating a firm where team members can grow, lead and thrive over the long term.”
The resulting company will keep the name Greenspring Advisors, have 70 team members and 23 partners, and remain owned by employees. Its four offices are in New York; Towson, Maryland; Paramus, New Jersey; and Lancaster, Pennsylvania.
“This merger strengthens our ability to deliver world-class service and to continue building a sustainable firm owned by the people doing the work,” said Michael Goodman, Wealthstream Advisors’ founder, in a statement.
Greenspring Advisors was named the 2018 PLANSPONSOR Small Team Retirement Plan of the Year and four 2024 PLANADVISER Emerging Leaders were from the firm.
Echelon Partners served as the exclusive financial adviser to the companies in the merger.