Corient, one of the largest and fastest-growing national wealth advisors in the U.S., announced the addition of Stonehage Fleming, one of the world’s leading independently owned multi-family offices, and Stanhope Capital Group, one of Europe’s largest independent wealth management and advisory firms.
Together, Stonehage Fleming and Stanhope Capital will bring more than $214 billion in client assets to Corient, as well as distinct but complementary strengths. This move marks a significant expansion of Corient’s global reach, establishing a presence in Europe, the Middle East, and Africa and further deepening the firm’s expertise in serving ultra-high-net-worth (UHNW) families.
“With this expansion, Corient becomes the world’s largest independent advisory firm focused on the holistic needs of ultra-high-net-worth and high-net-worth clients,” said Kurt MacAlpine, Partner and Chief Executive Officer of Corient. “This combination of three storied firms creates a truly global wealth manager and multi-family office with formidable resources and deep expertise in serving the world’s wealthiest individuals and families.
“By integrating the strengths of each organization, Corient will be able to deliver seamless, end-to-end service to clients anywhere in the world – in a way that doesn’t exist today,” Mr. MacAlpine said. “Furthermore, our advantage extends beyond capabilities to how we deliver them. Under our international partnership, which will consist of more than 300 firm owners aligned under one vision, we’re building a new type of wealth management firm, one that is global, collaborative and evolving to meet the dynamic needs of sophisticated clients.”
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As part of the transaction, Corient’s private partnership model, under which more than 260 Partners own and operate the firm, will be extended to the international operations.
“Our unique partnership structure was an important factor in attracting these prestigious firms to Corient,” Mr. MacAlpine said. “The partnership allows us to serve clients differently. Unlike most wealth management models that limit the client experience to a single advisor, the Corient partnership fosters teamwork across our expansive roster of experienced advisors and other professionals – ensuring that clients benefit from the capabilities of the firm as a whole. We are excited to extend our partnership to our international colleagues to create the first global professional services partnership in wealth management.”
Stonehage Fleming is a global leader in family office and fiduciary services, with nearly 50 years of experience supporting some of the world’s most prominent families and wealth creators. With over $175 billion in combined assets – as well as offices in 12 jurisdictions – the firm’s comprehensive offering includes cross-border and multi-generational structuring, wealth and investment management, governance and succession planning, legal and tax advisory, trust and fiduciary, philanthropic and art management services. With deep roots as advisor to international families, including the Fleming family, the firm embraces values of moral courage, family and excellence that strongly align with Corient’s culture.
“This next chapter enables us to remain true to our history while expanding our reach and impact for clients,” said Giuseppe Ciucci, Executive Chairman of Stonehage Fleming. “Corient shares our commitment to integrity and excellence, while its robust value proposition for ultra-high-net-worth clients will provide even greater scale and resources to the benefit of the families we serve. We also see Corient as the perfect home for our people, given its unique partnership model and commitment to collaboration and professionalism.”
Stanhope Capital, founded in 2004 by Daniel Pinto, is one of Europe’s largest independent wealth management and advisory firms, with close to $40 billion in assets. The firm provides services across wealth management, consulting, merchant banking and private investments, with a team comprising seasoned investment professionals and former executives from leading global financial institutions. Stanhope has built its reputation on three core pillars: objectivity, alignment of interest, and innovation – principles that mirror Corient’s fiduciary model.
The Stanhope Capital Group includes New York-based FWM Holdings, owner of FFT Wealth Management, a multi-family office that provides investment management and family office services to ultra-high-net-worth families in the United States and globally.
“Since our firm’s inception, we’ve focused on providing objective, innovative advice and solutions that put our clients’ interests first,” said Mr. Pinto, Chairman of the Board, Chief Executive Officer and Founding Partner at Stanhope Capital. “Joining Corient allows us to accelerate these efforts alongside a team that understands the importance of unbiased, client-centered service. We’re excited about joining the Corient partnership and the expanded capabilities this combination brings to the families and institutions we serve.”