New Leadership and Consolidation Ahead
Once the deal closes, the acquired firms will be rolled into a unified brand, steered by Wealthspire Advisors CEO Michael LaMena as chief executive and NFP’s Carl Nelson as president.
The transaction comes less than a year after Aon’s $13.4 billion acquisition of NFP in December 2023, which cemented its footprint in wealth advisory and benefits consulting.
Madison Dearborn’s Expansion Play
Madison Dearborn, a Chicago-based private equity titan that has raised more than $31 billion since 1992, sees the deal as a springboard for both organic growth and acquisitions in the wealth management sector.
“For more than twenty years, we have successfully generated value for our portfolio companies in financial services and are tremendously excited to welcome these outstanding businesses back to MDP,” said Vahe Dombalagian, managing partner and co-head of financial services at the firm.
The divested businesses provide a suite of wealth and financial advisory services, spanning retirement planning, portfolio management, and fiduciary consulting.
