Exencial Wealth Advisors, an Oklahoma City-based registered investment advisor managing more than $5 billion in assets for around 4,600 clients, announced the third acquisition in its 20-year history.
The addition of Weinheimer Wealth Management in Austin, Texas, brings a team of nine and around $500 million in managed assets to Exencial. Previously offering advice and brokerage services through Ameritas Advisory Services, the firm, led by founder Matt Weinheimer, offers financial planning, investment management and tax services alongside estate, philanthropic, insurance and legal advice for wealthy individuals and business owners plotting their exit.
At Exencial, brokerage services are provided through PKS Investments.
With more than 100 employees—a little less than half of whom are advisors—across eight states, Exencial provides financial planning and portfolio management, as well as estate, tax and retirement plan services for a target clientele consisting of business owners, executives and wealthy individuals undergoing major life events.
“Exencial is a firm that punches above its weight and can add many of the resources Weinheimer sought in a partner,” said Dan Erichson, a managing director at Park Sutton Advisors, which worked with Weinheimer on the transaction.
“It is noteworthy that Weinheimer decided to partner with a firm on the smaller side of the credible acquirers over the large national players,” he added. “There continues to be a diverse set of buyers in the RIA market.”
In addition to North Carolina-based Willingdon Wealth Management in 2020 and Shoreline Financial Advisors in Connecticut early this year, Exencial has now added about $1.52 billion through acquisitions as the firm seeks to expand its geographic reach.
“We look forward to harnessing the strengths of both firms to enhance the financial well-being of our clients in Austin and beyond,” said Exencial CEO John Burns, citing “shared values and decades of experience.”
Texas is “a top area of interest for acquirers,” according to Erichson, who noted that Park Sutton has worked on 11 deals in the state since 2019.
Minority backed by First United Bank and Trust since 2021, Exencial now has 12 satellite locations, including four in Texas, three in Connecticut and one each in California, Florida, Pennsylvania, Ohio and North Carolina, in addition to its Oklahoma headquarters.