Cary Street Partners Financial and CIVC Partners today announced a strategic partnership, led by a significant investment by CIVC. This recapitalization of long-standing outside investors provides additional capital to fuel both organic expansion and strategic acquisitions, positioning Cary Street Partners for its next phase of growth. CSP insiders have committed to reinvesting a significant majority of their current ownership while also naming new partners in the firm.

The transaction has received full support from Cary Street Partners’ Board of Directors and is expected to close following regulatory approvals. The partnership enhances Cary Street Partners’ access to institutional capital, further strengthening its position as a leading independent wealth management firm while accelerating its M&A and financial advisor recruitment initiatives. CSP has successfully pursued the dual path of recruiting hybrid teams from national wirehouse and bank channels while also executing a parallel independent RIA acquisition process. This open-architecture approach has created a flexible operating platform that supports multiple custodians and diverse advisor and client service models.

“We wanted to find a partner who demonstrated a track record of success with a culture that empowered management and those directly driving value. While we ran a comprehensive process over time, it was abundantly clear to us that CIVC’s approach is perfectly aligned with this goal,” stated Joseph R. Schmuckler, Cary Street Partners CEO.

Marc McManus, Partner at CIVC said, “Cary Street Partners stood out as a premier platform in the wealth management space with a proven model and a leadership team poised to execute on significant future growth. They have a strong track record of success and an established operating infrastructure, which will allow us to support and further accelerate their expansion.” This investment positions Cary Street Partners to continue its disciplined growth, leveraging CIVC’s strategic resources to enhance its national footprint and service capabilities.

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