Litman Gregory joins iM Global Partner network

iM Global Partner is to acquire Litman Gregory, a wealth and asset management boutique managing USD4 billion in assets under management and overseeing USD2.2 billion of assets under advisory.

Litman Gregory, founded by Ken Gregory and Craig Litman in 1987 and based in the San Francisco Bay Area, is a privately-owned company, and pioneer in providing independent asset management services to investors. For over three decades, Litman Gregory has focused on providing in-depth investment research and personalised wealth management to individuals and multigenerational families to help them achieve their financial goals. The company also supports non-profit organisations by serving as their fiduciary partner and outsourced chief investment officer. Since 1996, Litman Gregory has developed a broad range of US mutual funds.

In just a few years iM Global Partner has become a premier global asset management network. The addition of Litman Gregory in the US, once completed, is expected to bring assets under management of the group to over USD24 billion (from USD20 billion as at end of December 2020) and will enhance distribution capabilities in the US. It further demonstrates iM Global Partner’s commitment to continued cross-border growth in serving the needs of sophisticated investors.

iM Global Partner plans to operate Litman Gregory Wealth Management as a separate business unit to preserve the strong recognition, independence and expertise that it has built over many decades with its cross-generational clients.

Steve Savage, CEO of Litman Gregory, says: “We are excited to become a part of iM Global Partner as it improves our ability to deliver on our mission to excel for our clients. iM Global Partner brings complementary global research resources and strong alignment on total client focus. The combination of our organisations is a natural fit because of our shared research DNA, commitment to independent thinking, integrity and total client focus.”

Philippe Couvrecelle, CEO and founder of iM Global Partner, says: “Litman Gregory becoming a part of our group is a major step forward as we continue our US expansion. This strategic operation allows us to add Wealth Management as a new key activity for iM Global Partner. Our clients will benefit from the synergies that result when like-minded organisations leverage their talents and resources to enhance the client experience.”

Jeffrey Seeley, Deputy CEO at iM Global Partner US, adds: “We are thrilled to work with our Litman Gregory colleagues moving forward and see tremendous opportunities for the continued development of long-term investment solutions to serve various clients in the US and internationally.”

This operation is subject to the approval of the SEC (Securities and Exchange Commission) and is expected to close in the second quarter of 2021.

Law firm Seward & Kissel represented iM Global in connection with this transaction.

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