PMA Securities Acquires Municipal Advisory Business of Crystal Financial Consultants

Flexpoint Ford and TA Associates Back Combination of Public Trust Advisors and the PMA Companies to Form PTMA Financial Solutions

March 26, 2025

Financial Services

Private equity firms Flexpoint Ford and TA Associates have backed the combination of Public Trust Advisors, LLC and the PMA Companies to create a new integrated financial services firm, PTMA Financial Solutions. The combined organization, led by CEO Todd Alton with Executive Chairman Jim Davis, serves over 12,000 local governments and public entities across the United States and employs more than 270 people; terms were not disclosed.

Promus Equity Partners and Estancia Capital Acquire PMA Financial Network

April 2, 2019

Financial Services

Promus Equity Partners LLC, in partnership with Arizona-based Estancia Capital Management LLC and PMA's management team, has acquired PMA Financial Network LLC, a Naperville, Illinois-based provider of financial and advisory services to municipalities, school districts and other local government entities. The transaction represents a succession/exit transaction from the founding English family; terms were not disclosed.

PMA Financial Acquires Miles Capital

January 29, 2020

Financial Services

PMA Financial Network has reached a definitive agreement to acquire substantially all assets of Miles Capital, Inc. from Chairman David Miles and other employee owners and investors. Miles Capital is an independent, SEC-registered investment adviser managing approximately $1.7 billion in AUM; the deal was expected to close in Q1 2020 and terms were not disclosed.

Creative Planning Acquires Goldman Sachs Personal Financial Management Business

August 28, 2023

Financial Services

Creative Planning, an independent Registered Investment Advisor, has agreed to acquire Goldman Sachs’ Personal Financial Management (PFM) unit. The deal — a divestiture by Goldman Sachs — moves PFM’s advisors and client relationships to Creative Planning and is expected to close in Q4 2023, while preserving access to Goldman Sachs Asset Management solutions through an expanded strategic relationship.

Goldman Sachs Alternatives Takes Majority Stake in Crystal Group

May 6, 2024

Wealth Management

The Private Equity business at Goldman Sachs Alternatives has agreed to become the majority shareholder in French wealth manager Crystal, alongside Crystal's management team led by Bruno Narchal and Jean-Maximilien Vancayezeele; Seven2 will remain a c.25% shareholder. Crystal, founded in 1992, manages around €22 billion AUM (pro forma for recent acquisitions) and said the investment will support growth in France and internationally, including significant investments in digital and AI. The transaction is subject to regulatory and antitrust approvals.

Brailsford & Dunlavey Merges with Project Management Advisors (PMA)

December 10, 2025

Engineering Services

BCP-backed Brailsford & Dunlavey (B&D) and Project Management Advisors (PMA) have merged to form an integrated institutional program management and real estate advisory platform. The combined firm—supported by Bernhard Capital Partners—brings together more than 450 professionals and expands geographic reach and sector capabilities across higher education, healthcare, life sciences, civic projects and energy infrastructure.