Simon Quick Advisors Acquires Proquility Private Wealth Partners

Simon Quick Advisors Merges with Red Hook Management

April 12, 2022

Wealth Management

Simon Quick Advisors, an independent wealth management firm headquartered in Morristown, New Jersey, has merged with fellow Morristown RIA Red Hook Management. The deal brings roughly $420 million in AUM and three advisory professionals into Simon Quick, expanding the combined firm to about 68 employees and approximately $5 billion in assets under management while providing Red Hook with access to Simon Quick’s operational platform and technology.

Pro-ficiency Acquires Compass Group Partners

June 30, 2023

Healthcare Services

Pro-ficiency has acquired Compass Group Partners and affiliated assets to combine its simulation-based training platform with Compass's life-sciences medical communications capabilities. The deal expands Pro-ficiency's simulation offerings into medical affairs and commercial markets, enabling immersive simulation solutions for pharma and biotech customers and creating new revenue opportunities.

Simon Quick Advisors Acquires Red Hook Management; Cerity Partners Acquires Permit Capital

May 3, 2022

Wealth Management

Gladstone Associates advised on two buy-side RIA transactions announced in April/May 2022: Simon Quick Advisors acquired Morristown, New Jersey-based Red Hook Management (reported $385 million AUM) and Cerity Partners acquired Conshohocken, Pennsylvania-based Permit Capital (reported $1.6 billion AUM). Both transactions expand the buyers’ wealth management footprints in the Philadelphia/New Jersey region.

Wealth Enhancement Group Acquires Equius Partners, Inc.

March 29, 2023

Wealth Management

Wealth Enhancement Group has acquired Equius Partners, Inc., a Novato, California-based independent RIA that manages more than $1 billion in client assets. The deal expands Wealth Enhancement Group’s West Coast presence, adding Equius’ team of seven advisors and five support staff and increasing its footprint in Northern California.

NovaQuest Private Equity Acquires Majority Interest in Pro-ficiency

February 23, 2021

Healthcare Services

NovaQuest Private Equity has acquired a majority interest in Pro-ficiency, a Durham, North Carolina–based provider of simulation-based clinical trial training, compliance solutions, and analytics for sponsors and CROs. The growth equity investment will support Pro-ficiency's expansion of its platform, content, and team; deal terms were not disclosed.

Waverly Advisors Acquires Prosper Financial Advisers

November 10, 2023

Wealth Management

Waverly Advisors, a fee-only registered investment adviser backed by Wealth Partners Capital Group and HGGC’s Aspire platform, has acquired Prosper Financial Advisers of St. Petersburg, Florida. The deal closed on November 10, 2023, adds approximately $146 million of AUM to Waverly (bringing total AUM to about $7.7 billion) and brings founder Rhonda Holifield and her all-female team into Waverly to expand the firm’s Florida presence.