Coastal Bridge Advisors is merging with two other firms to form a national entity with $10 billion in client assets.
A Connecticut wealth management firm, Coastal Bridge Advisors, is merging with two other firms to form a national entity with $10 billion in client assets.
CBA has offices in Milford and Westport. It’s combining with Tennessee-based Waddell & Associates, and One Charles Private Wealth, based in Hingham, Massachusetts.
The three are all network firms within Focus Financial Partners, a private equity-backed group in the registered investment advisory space. Focus Financial was acquired by private equity firm Clayton, Dubilier & Rice in 2023.
The combined firm will have 21 partners and 55 staff across Connecticut, California, Massachusetts, North Carolina, Florida and Tennessee. It will operate under the Coastal Bridge Advisors name.
Many of CBA’s executive team remain in place. CBA’s founder Kevin Burns will be co-chairman, alongside the former CEO of Waddell & Associates, David Waddell, who becomes co-chair and chief investment officer.
CBA’s CEO Jim Betzig, President Mark Dupont and Chief Revenue Officer Bill Loftus will serve in the same positions in the combined firm.
Paul Squarcia and Erik Wallin, founding partners of One Charles Private Wealth, become managing partners of the new firm’s Florida and Massachusetts offices.
