Aspiriant Merges with HearthStone Private Wealth Management

LOS ANGELES, Dec. 1, 2021 /PRNewswire/ -- Aspiriant, a leading independent wealth management firm in the U.S., and HearthStone Private Wealth Management ("HearthStone"), a San Diego based wealth management firm, today announced that they have entered into a strategic agreement in which Hearthstone merged into Aspiriant on November 30, 2021. The partnership follows several successful mergers Aspirant has completed over the past several years. The two independent wealth management firms will grow Aspiriant's regional strength in San Diego, while expanding offerings and services for clients of both firms.

With a team of seven employees that service 150 clients, HearthStone manages approximately $350 million in assets for affluent families and professional fiduciaries. Aspiriant, one of the largest national, employee owned, independent advisory firms, has over $14 billion in assets under management and advises 1,788 clients in 11 offices throughout the U.S.

"We are thrilled to be partnering with HearthStone, a firm that parallels our standards and values when it comes to servicing clients and investing in employees," said Rob Francais, CEO of Aspiriant. "When it comes to Aspirant's future growth, the sky is the limit for merging with like- minded organizations. We know succession planning is top of mind for many advisors and their clients, and we are here to offer an alternative path to selling to the big banks and private equity for firms that wish to remain employee-owned and independent of financial conflicts."

HearthStone has expertise, leadership, and service capabilities in the professional fiduciary space, allowing Aspiriant to extend new offerings to clients, while also bolstering resources in the San Diego market.

This partnership follows several strategic mergers driven by Aspiriant, one of the nation's only independent, employee-owned firms with scale above $14B. Over the past several years, Aspiriant has merged with San Diego based wealth management firm Hokanson Associates in 2015, Los Angeles based wealth management firm The Glowacki Group in 2016 and Silicon Valley based wealth advisory firm Stanford Investment Group in 2017.

"When the time came to discuss a succession plan, there were several options available to us. While we know that PE firms are paying top dollar for advisory firms in the current environment, we feel strongly that independent ownership is synonymous with putting the needs of clients and employees first. Because of our mutual unwavering dedication to our clients and employees, it became clear that Aspiriant was the best choice for us," said Paul Hynes, Founder, President & CEO of HearthStone.

Once the transaction is complete, Aspiriant will serve approximately 1,800 clients and have more than $15 billion in assets under management and advisement. DeVoe & Company, a leading investment bank and consulting firm to RIAs, acted as the advisor to HearthStone.

About Aspiriant

Aspiriant is a leading independent wealth management firm in the U.S. with more than $14 billion of assets under management and advisement. The firm provides a full range of wealth management services for over 1,700 individuals, families and institutions throughout the country with offices in Los Angeles, San Francisco, Silicon Valley, San Diego, Orange County, New York, Boston, Minneapolis, Milwaukee, Cincinnati, and Austin. For more information, visit www.aspiriant.com.

About HearthStone

Hearthstone is a San Diego based wealth management firm that manages approximately $350 million in assets for affluent families and professional fiduciaries. The Hearthstone team has 7 employees that serve 150 clients.

SOURCE Aspiriant LLC