Warner Norcross + Judd LLP represented Compass Advisors and Long Island Wealth Management in their sale to CAPTRUST Financial Advisors.
Based in Melville, New York, Compass Advisors and Long Island Wealth Management are longtime affiliated wealth management firms serving institutional and individual clients. Together, the firms bring seven professionals and approximately $1.2 billion in assets to CAPTRUST.
Compass Advisors was founded in 2013 by partners Michael Cuneo and Lauren King. “We have built an incredible firm and culture over the past decade at Compass,” Cuneo said. “As the needs of our clients grow and become more complex, we decided to align with CAPTRUST, which shares our commitment to fiduciary advice and has developed the expansive tools and resources needed to provide exceptional guidance in an ever-changing world.”
Long Island Wealth Management was founded in 2006 by Jeff Myers. “After 20 years as an independent advisor, I was looking for an organization that allows me to continue providing fiduciary advice and maintain my individual client relationships,” Myers said. “CAPTRUST’s expansive operational and advanced planning expertise allows me to spend more quality time with my clients, helping them achieve their long-term financial goals.”
Both firms will adopt the CAPTRUST brand while continuing to serve clients from the New York market. CAPTRUST is an independent financial advice and investment management firm serving individuals, retirement plan sponsors, endowments, foundations and nonprofit organizations.
Hue Partners served as M&A advisor to Compass Advisors and Long Island Wealth Management. Terms of the transaction were not disclosed.
The Warner team was led by Linda Paullin-Hebden and Sarah Harper, and included Early Stephens, Harsh Patel, Cade Bunton, Sean Cook, Stephanie Grant, DeAndre’ Harris, Andrew Reside and Jennifer Watkins.
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.
