InCap Group Congratulates RiverStone Wealth Management on its Acquisition by Carnegie Investment Counsel

InCap Group served as exclusive financial advisor to RiverStone Wealth Management

InCap Group Inc., a premier boutique investment banking firm focused exclusively on the financial services industry, is pleased to have represented RiverStone Wealth Management in its sale to Carnegie Investment Counsel.

Established in 2008, RiverStone Wealth Management is an independent wealth advisory firm serving high-net-worth individuals, families, and retirement plans. RiverStone specializes in providing customized wealth management services that help their clients achieve their objectives.

Headquartered in Wexford, Pennsylvania, RiverStone has approximately $230 million in assets under management.

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Carnegie Investment Counsel is a wealth management firm with roots going back to 1974, when it was originally founded by Prescott, Ball & Turben. Headquartered in the suburbs of Cleveland, Ohio, Carnegie serves a national client base of individuals, families, non-profits, foundations, and endowments. Through the Carnegie Retirement Plan division, the firm also serves plan sponsors of 401(k) and other retirement plans. Carnegie has over $3.5 billion in assets under management and over $400 million in assets under advisement with offices in Cincinnati, Fort Myers, Los Angeles, New York, Pittsburgh, Philadelphia, and Toledo.

Wes Creese, co-founder of RiverStone Wealth Management, notes: “We are all excited for our partnership with Carnegie Investment Counsel. Each interaction with the Carnegie leadership team confirmed that our organizations were not only a strong cultural fit, but our approach to serving clients was similar as well.”

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He added, “the team at InCap provided objective, valuable guidance through every step of this important process. Their experience in navigating the M&A process was an asset to us and having them in our corner certainly helped to produce a great outcome.”

When asked about RiverStone Wealth Management, Brian Lauzon, managing director of InCap Group commented, “Wes and his team have built an exemplary business. We couldn’t be happier to see them partner with a high-caliber firm like Carnegie.”