“Through our affiliation with AMG Wealth Partners, we will retain the essential elements of our firm’s operating culture and three-decade history of success while gaining access to enhanced opportunities for growth, especially in our non-domestic business, given the scale and resources of a global financial partner,” said Mr. Clarfeld, the firm’s President and Chief Executive Officer. “We are extremely proud of our success in serving senior executives of major corporations, and other successful individuals and their families, with our holistic approach to wealth management delivered by our team of talented and credentialed professionals. Diversifying our ownership structure through this transaction will ensure our sustained commitment to client excellence well into the future.”As part of the transaction, a broad group of Clarfeld’s senior professionals has made long-term employment commitments to the firm. The terms of the transaction were not disclosed. About AMG Wealth Partners AMG Wealth Partners is a subsidiary of Affiliated Managers Group. Inc. (NYSE: AMG), a global asset management company with equity investments in leading boutique investment management firms. As of June 30, 2013, the aggregate assets under management of AMG’s Affiliates were over $470 billion in more than 400 investment products across a broad range of investment styles, asset classes and distribution channels. AMG’s strategy is to generate growth through the internal growth of existing Affiliates, as well as through investments in new Affiliates. In addition, AMG provides centralized assistance to its Affiliates in strategic matters, marketing, distribution, product development and operations. AMG Wealth Partners employs the essential elements of AMG’s proven partnership model, with an approach tailored to meet the unique attributes and needs of independent wealth advisory firms. The firm seeks permanent partnerships with the most highly regarded wealth management firms and provides capital, strategic guidance and infrastructure capabilities to help them grow, scale their businesses and better serve their clients.
Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including changes in the securities or financial markets or in general economic conditions, the availability of equity and debt financing, competition for acquisitions of interests in investment management firms, the ability to close pending investments, the investment performance of our Affiliates and their ability to effectively market their investment strategies, and other risks detailed from time to time in AMG’s filings with the SEC. Reference is hereby made to the “Risk Factors” set forth in AMG’s Form 10-K for the year ended December 31, 2012.AMG routinely posts information that may be significant for investors in the Investor Information section of its website, and encourages investors to consult that section regularly. For additional information, please visit www.amg.com .