Perigon Wealth Management says it is merging with a New York-based registered investment advisory firm.
Perigon will join PM Wealth Managementwhich has five advisers overseeing nearly $750 million, according to Perigon.
PM Wealth was previously part of the New York company Prager Metisan accounting and consulting firm affiliated with Prager Metis International, said Perigon. PM Wealth will continue to operate under its own brand, but its executives will join Perigon’s management team, according to Perigon.
In addition, Perigon will serve as the preferred wealth management partner for tax clients of Prager Metis, while Prager Metis will be one of the preferred tax firms that Perigon uses for holistic tax services, Perigon said.
“This partnership expands our tax advisory resources through Prager Metis to our clients, while establishing Perigon as the wealth management benchmark firm of choice for Prager Metis clients,” Jonathan Hoychief operating officer of Perigon, said in the announcement.
The companies did not disclose financial terms of the deal.
San Francisco-based Perigon says it has $3.6 billion in client assets. With the addition of PM Wealth, Perigon will have more than 50 financial advisors overseeing more than $4.3 billion in assets, according to the deal announcement.
Founded in 2004, Perigon partnered with a private equity firm Trader investment management in 2019.
The merger with PM Wealth is Perigon’s third acquisition or merger since December, a Perigon spokesperson told FA-IQ in an email.
Other companies added since then are Baltimore-based RIA Matthai Capital Managementthe RIA based in Irvine, California Baker & Associates and the Wilmington, Delaware based Greenville Financial Groupaccording to Perigon.