The acquisition continues Clearstead’s rapid growth trajectory by establishing a new presence in Chicago and further developing Clearstead as a nationally recognized RIA. Upon closing, Clearstead and its subsidiaries will have approximately $47 billion in total assets under advisement,* including $22 billion in total assets under management*, more than 270 employees and 12 offices.

“Joining Clearstead is a major step forward for Waveland as we continue to better serve our clients with differentiated financial advising, tools and resources,” said Mr. Berg. “Clearstead’s rapid growth in the industry and sizeable presence in regional markets will give Waveland strength and capabilities as we seek to grow with high-net-worth families in new ways.”  Mr. Zaslavsky added “We have worked with Clearstead as a sub advisor since the inception of Waveland Family Office, LLC and are excited to continue our relationship as we together build out the Chicago market.”

“We welcome Waveland to the One Clearstead family as an important new addition to our Midwest footprint,” said Brad Knapp, president and CEO of Clearstead. “Their ability to offer comprehensive tax planning and compliance services aligns perfectly with our One Clearstead model.”

“Their impressive list of clients and skilled financial advisors made them a perfect fit into our team. We consider this an investment in the Chicago market where we intend to continue to grow our presence.”

Founded in 1989 with its headquarters in Cleveland, Ohio, Clearstead serves individual and family clients – integrating tax, planning, and family office services with investment management – in addition to hundreds of endowments and foundations, retirement plans, colleges and universities, and hospitals.

In 2022, Clearstead received a majority equity investment from Flexpoint Ford, a private equity firm specializing in financial services and healthcare investments. Since then, the firm has continued to grow organically and through acquisitions and liftouts. Recent acquisitions and expansions include Wilbanks, Smith & Thomas, LLC (“WST”); Baldwin Advisory; Burkhart & Co. and Snow Financial Advisors, both Cleveland-based wealth managers; Avalon Trust, a Santa Fe, New Mexico financial advisor; CLS Consulting, a provider of family trust company services to ultra-high net worth clients; and a seasoned team of advisors in Hudson, Ohio.