Lido Advisors[1], a Los Angeles-based registered investment adviser managing $11 billion, has acquired Enterprise Trust & Investment Company, a Los Gatos, California-based trust company managing $800 million.
The transaction, terms of which were not disclosed, is expected to close in the third quarter, Lido Advisors said in a press release[2] Tuesday,
Founded in 1995, Enterprise Trust is based in the Greater San Francisco Bay Area. The firm provides investment management and fiduciary services to high-net worth individuals and their families.
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References
- ^ Lido Advisors (www.investmentnews.com)
- ^ press release (www.businesswire.com)
- ^ The 4 key drivers of RIA consolidation (www.investmentnews.com)
- ^ reprints and licensing (www.parsintl.com)