Blue Water Capital Management LLC and Lumin Financial LLC Further Expansion into New York and Michigan
SAN FRANCISCO, March. 5, 2024
Perigon Wealth Management LLC (“Perigon”), a rapidly growing independent wealth management firm with offices across the country and approximately $6.9 billion as of Jan, 31, 2024,1 in client assets, today announced it has acquired Blue Water Capital Management LLC (“Blue Water”) of New York and Lumin Financial LLC (“Lumin Financial”) of Michigan. The firms have collective Assets Under Management (AUM) of approximately $375 million in AUM. Terms were not disclosed.
“We are thrilled to welcome these teams to Perigon. Our range of affiliation models and advisor support continue to make our majority advisor-owned firm an attractive partner for growing financial practices. We look forward to a partnership that allows the advisors and staff joining Perigon to continue delivering results for their clients.” ~ Arthur Ambarik, Perigon’s CEO
- Blue Water Capital Management is a Syracuse, New York-based registered investment advisor (“RIA”) founded in 2007 to provide portfolio management for financial advisors, retirement plan solutions for employers, and financial planning for investors. The firm has approximately $200 million in AUM.2
- Lumin Financial is a Southfield, Michigan, advisory firm founded in 2000 to provide investment advisory services to employer-sponsored ERISA retirement plans and 401(k) plan participants. It also provides investment advisory services to high-net-worth investors. The firm has approximately $175 million in AUM as of Jan. 3, 2024.3
Perigon, an advisor-led firm, recently announced Constellation Wealth Capital as a new minority investment partner to enhance its strategic expansion through flexible affiliations. The firm added teams and offices across six major markets since December 2021. Perigon was named one of RIA Channel’s 2022 Top 50 Wealth Managers by Growth in Assets and included on the Forbes Top RIA list.4 In September 2022, the firm announced a merger with PM Wealth Management LLC, and formed a strategic alliance with Prager Metis CPAs LLC, a tax advisory firm. In November of that year, Perigon announced it acquired Nauset Wealth Management LLC, and expanded its Atlanta office.
Perigon estimates approximately $375 million will be added to its AUM upon the close of the transactions.
Alaris Acquisitions, an M&A advisory firm exclusive to the wealth management industry, served as the advisor for the Blue Water transaction. FP Transitions supported Lumin Financial in its transaction.
1 Perigon provides investment advisory and related services for clients nationally; Perigon will maintain all applicable registrations and licenses as required by the various states in which it conducts business. For more information, please visit www.perigonwealth.com or the Security and Exchange Commission’s (“SEC’s”) website at www.adviserinfo.sec.gov and search with Perigon’s CRD# 131037.
2 and 3 Additional information about Blue Water (CRD# 143414) and Lumin Financial (CRD# 124138) is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the firm names and their CRD#’s.
4 Learn more about RIA Channel’s 2022 Top 50 Wealth Managers at https://www.riachannel.com/2022-top-50-wealth-managers-by-growth-methodology/ and Forbes” Top RIA ranking methodology at https://www.forbes.com/sites/rjshook/2022/10/25/methodology-americas-top-ria-firms-2022/?sh=4058511e17d9
