Pure Financial Advisors, a California-based investment advisor, and Lee Equity Partners, a New York-based private equity firm, announced an agreement under which funds managed by Lee Equity will acquire a stake in the rapidly expanding $3.6 billion Registered Investment Advisor (RIA). As part of this transaction, senior management and employees of Pure Financial Advisors will remain significant shareholders, as will Emigrant Partners, LLC.
Together with Pure, Lee Equity Partners will continue to build upon their comprehensive tax-focused financial planning service model, invest in their platform and help Pure scale the business both organically and through strategic mergers and acquisitions. The purchase agreement was signed on August 30, 2021 and the transaction closed on October 21, 2021.
The WilmerHale team representing Pure Financial Advisors was led by Stephanie Evans, Knute Salhus, Chalyse Robinson, J.C. Minko, Nathan Moore and Milan Kumar on corporate matters and included Scott Kilgore, Bill Caporizzo, Meghan Walsh, Jeff Johnson and Tim Silva on employment, benefits, tax, intellectual property and regulatory matters.