ClearsTead wins the foundation of the Agoikago area with $ 420 million RIA


ClearsTead Advisors announced its entry into the Agoikago market and its first acquisition under the new president and CEO Bradley KNAPP with the purchase of Wavelland Family Office, a Deerfield -based RIA with $ 420 million in AUM.

ClearsTead closed the Wavelland deal on January 31, bringing six employees, including directors Allen C. Berg and Dennis Zaslavsky, who will join as capital partners in ClearsTead. Firms did not reveal the terms of the agreement.

Purchase is the first since ClearsTead by the name KNApp President and CEO in December. He followed David C. Fulton Jr., who took over in 2014 when the firm had $ 2.2 billion in AUM and 55 employees.

With the addition of Wavelland, ClearsTead now has 270 employees in 12 offices, $ 22 billion in AUM and $ 47 billion as wealth under advice, including its subsidiaries.

Wavelland has a family office practice that serves high value families. Its services include financial and assets planning, investment management and tax planning and compliance.

RIA has worked with Cleveland based ClearsTead as a subadvisor since its inception, and now employees will operate under the name ClearsTead.

“Cleararstead is a big step forward for Wavelland as we continue to serve our customers with differentiated financial counseling, tools and resources,” Berg said in a statement. “The rapid growth of ClearsTead in the industry and a significant presence in regional markets will give strength and skill Wavelland as we seek to grow with high -value families in new ways.”

KNAPP said the firm considered the purchase “an investment in the Agoikagos market” with plans to continue expansion.

KNAPP joined ClearsTead in 2016 as the leader of the private client group and, two years later, took over the practice of faith. He was appointed President in 2023.

In 2022, ClearsTead received a majority investment of net capital by Flexpoint Ford, a private capital firm. Its other recent purchases were in Ohio, New Mexico and Virginia.



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