SAN DIEGO, March 4, 2024 – Pure Financial Advisors, LLC (“Pure”) today announces the closing of two acquisitions to end 2023 with Northern California-based Symphony Financial Planning, LLC (“Symphony”) and Oregon-based Crestline Capital, LLC (“Crestline”). Both transactions further expand Pure’s presence across the Western U.S. All principals and employees of both firms joined Pure as a result of the transactions.
“Our focus continues to be on growing organically, with a secondary aim at making very few, select acquisitions and partnerships wherein the culture, business, and strategic fit exists,” said Jason Carver, CFO & Managing Partner of Pure. “In each of these cases, the connection and opportunity between our businesses was so natural and outright compelling that both sides were eager to partner together.”
Based in the university town of Davis, CA, Symphony managed approximately $240 million in assets for 170 families at the time of closing. Paul Meyerhoff, who holds a Ph.D. in Plant Physiology from U.C. Davis, founded the company in 2006 to help families bring their finances and life goals into harmony. “After building for the last 17 years, I was looking for a partner who could not only continue the legacy of serving clients in Davis and the greater Sacramento area but also ensure that my team has career paths and upside with a strong, organically growing firm, as I know M&A can only take you so far. Pure proved to be in a league of their own in terms of offering the culture, the growth, the service-offering, and the mission that we could all rally around,” stated Mr. Meyerhoff.
Also in 2006, Crestline was started by Michael Moore in Lake Oswego, OR, a suburb of Portland, and managed over $90 million in assets across 50 families at the time of closing. An institutional bond salesman by background, Mr. Moore moved to the retail side and started his own registered investment advisor after seeing how clients were underserved by the brokers he was surrounded by at the large wirehouses. After being on his own for so long, Mr. Moore was looking to offload many of the administrative tasks of the business, gain more resources for himself and his clients, and free up his time so he could better serve his clients and bring in new clients. Said Mr. Moore, “Pure’s mantra of being ‘client first, advisor second, and company third’ really resonated with me given it’s the reverse order at many other wealth firms. That coupled with their technology and resources to free up my time and help me grow made the choice to join them extremely easy.”
Pure has now completed four transactions since the end of 2021. “We have a track record of opening offices in new locations and doubling, tripling and quadrupling them in very short periods of time, entirely organically through our unique marketing and lead generation capabilities. We grew our assets over 30% organically (excluding M&A) in 2023 alone,” stated Joe Anderson, CEO & President of Pure. “Both Symphony and Crestline provide us strong bases to build on and our goal is to deploy those same capabilities in their respective regions to grow their businesses and service the under or ill-serviced who they haven’t yet reached.” Pure is looking to hire additional advisors and planners in both the Portland and Northern California regions, in addition to other regions across the Central and Western U.S.
Founded in 2007 and headquartered in San Diego, CA, Pure Financial Advisors, LLC is a registered investment advisor offering independent, fee-only financial planning, education, and investment advice to clients nationwide. Pure has eight offices throughout California, the Pacific Northwest, Colorado, and Illinois, and as of January 2, 2024, manages over $6.0 billion in client assets. Pure is driven by its mission of providing financial education, planning, and advice to all those in need of it, which currently translates to serving over 4,500 families and clients. Pure grows predominately through its Media channel (featuring the Your Money Your Wealth TV, Radio, and Podcast shows), its Education channel, and its Digital channel.
Pure has been named to many industry awards and rankings over the years including most recently Top Regional Fee-Only RIAs by InvestmentNews (2023), #66 on Barron’s Top 100 RIAs (2023), #107 on Financial Advisor Magazine’s Top RIAs in the Nation (2023), Best Places to Work in San Diego by San Diego Business Journal (2023), and Top 50 in Glassdoor’s Best Places to Work US SMB (2022).
For any questions about the rankings mentioned, please visit https://purefinancial.com/why-pure/news/, or for more information, please visit www.purefinancial.com.
