SEIA To Buy $2 Billion Cleveland-Based RIA

The Transaction, Expected To Close In June, Will Expand SEIA’s National Footprint.
Brian Holmes, CEO, SEIA; Cameron Stagg, Director of M&A, SEIA; and Bill Glubiak, CEO, Cedar Brook
Brian Holmes, CEO, SEIA; Cameron Stagg, Director of M&A, SEIA; and Bill Glubiak, CEO, Cedar Brook
Jeff Berman, Contributing Editor & Reporter, Wealth Solutions Report
Jeff Berman, Contributing Editor & Reporter, Wealth Solutions Report

RIA Signature Estate & Investment Advisors (SEIA) said Tuesday that it entered into a definitive agreement to acquire Cedar Brook, a $2 billion RIA based in Cleveland, Ohio.

Financial terms of the deal weren’t disclosed. The transaction is expected to close in June, subject to the satisfaction of customary closing conditions, SEIA said.

When completed, the acquisition will boost SEIA’s AUM to more than $22 billion and be SEIA’s first major expansion into the Midwest. It will also be SEIA’s largest transaction since partnering with New York-based private equity firm Reverence Capital Partners in 2022.

SEIA doesn’t plan to stop there, according to Cameron Stagg, Director of M&A.

“SEIA is positioning itself for strategic national growth opportunities,” Stagg said. “This is just the beginning of SEIA’s M&A endeavors. We expect significant additional acquisitions across the nation.”

Commenting on why his firm decided to acquire Cedar Brook, Brian Holmes, CEO of SEIA, said the “partnership embodies our core values and aligns with our strategic vision of holistic wealth management services nationwide on behalf of our clients and their legacies.”

“Joining forces with SEIA marks an exciting chapter for Cedar Brook,” according to Bill Glubiak, CEO of Cedar Brook. “Our shared devotion to client-centric services and innovative wealth management solutions positions us to deliver additional value to our clients,” he said.

SEIA, which WSR named a Fee-Based RIA of the Year in January’s Wealth Exemplar Awards, has 30 advisors, according to its website. In September, it launched an in-house broker-dealer, Signature Estate Securities.

Jeff Berman, Contributing Editor & Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.

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