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Bay Area-based Robertson Stephens Wealth Management announced Friday the acquisition of a local registered investment advisor, LFS Wealth Advisors, managing around $210 million in advisory assets, adding two new offices in the Northern California region.
The deal also brought the RIA’s total client assets to more than $4 billion. It follows the addition of a $160 million Boston practice, Vodia Capital, announced Wednesday. Terms of neither transaction were disclosed.
On the West Coast, LFS Wealth Advisors was founded in 1988 by Managing Director John Lau, who will now join Robertson Stephens as managing director and principal. Lau is joined by colleagues Helen Lau, Matthew Lau, Diana Cason, Michael Stephens, Jennifer Spence, Carmen Liu and Jialin Liu.
Based in San Ramon with a second office in Burlingame, LFS provides holistic wealth management services to Bay Area clients, including risk management, tax planning and estate conservation strategies.
Robertson Stephens CEO Raj Bhattacharyya said the acquisition will expand the firm’s tax management capabilities.
“Together, I believe that we will be able to give our clients more investment opportunities and complementary wealth planning capabilities to truly fulfill their goals,” Lau said in a statement.
David Matias founded Boston-based Vodia Capital in 2004 with a focus on proprietary research, impact-oriented strategies and portfolio design. Matias and Principal Avi Deutsch will join Robertson Stephens along with colleagues Brandon Frye, Chuning Wang, Janet Shetty and Mammad Aliyev.
“David has built a top-tier RIA with deep expertise in creating investment strategies that achieve clients’ financial and social impact goals,” said Bhattacharyya, in a statement. “With their addition, we are also excited to deepen our Northeast presence with a new office in the greater Boston area.”
“Changes in the industry, including new tech offerings, increased regulatory complexity and the growth of private investment opportunities, have increased the advantages of being a part of a larger wealth management firm,” Matias said in a statement.
Robertson Stephens now has 77 employees across 16 locations throughout the country.
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