WEST PALM BEACH, Fla., July 10, 2017 (GLOBE NEWSWIRE) -- Affiliated Managers Group, Inc. (NYSE:AMG), a global asset management company, announced that it has acquired a minority equity interest in Wealth Partners Capital Group, LLC ("WPCG"), a new venture which will invest, through partner firms, in smaller wealth management firms in need of operational infrastructure, with a 'hub-and-spoke' investment model giving the firms access to centralized support. As part of the investment in WPCG, AMG contributed its minority interest in Forbes Family Trust ("FFT") to WPCG, effective June 30, 2017. John Copeland, most recently President of AMG Wealth Partners, has stepped down to launch WPCG. With its existing wealth management Affiliates along with its investment in WPCG, AMG will continue to execute its strategy of selectively investing in leading large-scale independent wealth management firms seeking succession planning solutions. Managing approximately $40 billion in aggregate, AMG's wealth management Affiliates will continue to be part of the broader Affiliate group with no changes in their existing partnerships or economic relationships with AMG. "Our wealth management Affiliates include several of the best wealth management firms in the industry, and these Affiliates will continue to benefit from AMG's commitment, capabilities, and resources in succession-planning solutions, regulatory and compliance support, and other strategic advisory, along with a seamless transition in relationship management," said Nathaniel Dalton, President and Chief Operating Officer of AMG. "We are pleased to support the launch of WPCG, and believe the team will be successful in executing this distinct strategy among smaller wealth management firms. Given the backdrop of demographic trends which will continue to benefit independent, solutions-oriented wealth management firms, we look forward to continuing to selectively invest in additional wealth managers when opportunities arise with firms of meaningful scale and at valuations which align with our long-term discipline."