Constellation Takes Minority Stake in $3B RIA Bogart Wealth

Bogart Wealth, a McLean, VA-based independent fee-only wealth management firm, announced that it has sold a minority equity stake to serial RIA investor Constellation Wealth Capital.

Bogart said the investment from Constellation will be used to enhance its client services, technology solutions, marketing activities, and recruitment initiatives. The firm has reportedly quadrupled its assets under management and added 30 new staff members in the past five years, now standing at  $3B in assets under advisement, including $2.7B in assets under management. Advisor Growth Strategies served as transaction advisor to Bogart, with Troutman Pepper Locke serving as legal counsel.

The announcement comes a little over a month after Constellation Wealth announced the oversubscribed close of its debut fund, raising $1B to fund further investments in wealth managers, as reported by Dakota on December 16.

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Written By: Dakota

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