AlphaCore Acquires Streamline Family Office to Expand Ultra-High-Net-Worth Services
AlphaCore Wealth Advisory has acquired Streamline Family Office for $5 billion, forming AlphaCore Streamline as a dedicated family office division. This move enhances the firm's ability to serve ultra-high-net-worth families with high-touch services such as bill pay and balance sheet management. The acquisition adds Streamline’s 15-person team and nearly $5 billion in assets under management. AlphaCore, which previously had over $10 billion in AUM, aims to provide infrastructure for managing complex family wealth structures. CEO Dick Pfister emphasized the need for personalized services that AI cannot replace. Katie Sullivan, founder of Streamline, will lead the new division and become a partner at AlphaCore. The firm has also expanded into tax preparation and planning. This acquisition aligns with broader trends in the RIA industry to offer family office divisions as wealth management becomes more complex for high-net-worth clients.
Topics: Acquisition Family Office Services Wealth Management