Warner Norcross + Judd LLP advised Wealth Care LLC in its sale to HB Wealth, a national independent, fee-only registered investment adviser.
Founded in 2002 by Steven D. Podnos, MD, MBA, CFP®, Wealth Care is an independent, fee-only registered investment adviser that previously oversaw approximately $700 million in assets. The practice serves physicians and other health care professionals, as well as high- and ultra-high-net-worth individuals and families nationwide.
Through the transaction, Steven Podnos, Rachel Podnos O’Leary, JD, CFP®, and Lauren Podnos-Garner, CFP®, joined HB Wealth and established the firm’s presence in Austin, Texas. Rachel Podnos O’Leary and Lauren Podnos-Garner are based in Austin, while Steven Podnos will divide his time between Austin and Cocoa Beach, Florida.
“Joining HB Wealth represents an important next chapter for our clients and our team,” Steven Podnos said. “It allows us to preserve the independent, fiduciary approach that has always defined our work while expanding the depth of advice and resources we can bring to each relationship.”
HB Wealth is a national independent wealth management firm headquartered in Atlanta. The transaction expands its presence into Texas, its seventh market.
Warner’s transaction team was led by partner Linda Paullin-Hebden and partner Sarah Harper and included associate Early Stephens.
Advisor Growth Strategies served as M&A advisor to Wealth Care.
Warner’s Mergers and Acquisitions (M&A) Practice Group
Warner’s M&A group draws upon more than 85 years of experience to successfully and efficiently handle a wide range of M&A transactions for both private and publicly traded businesses, including mergers, acquisitions, divestitures, joint ventures and strategic business combinations of all types.
Warner’s Funds and Investments Industry Group
Focused on the unique legal and compliance needs of investment advisers and broker-dealers, Warner regularly counsels investment advisers on regulatory and transactional matters. The firm’s industry knowledge enables its attorneys to guide clients through every stage of an acquisition or divestiture, as well as the regulatory issues that arise before, during and after a transaction.
