Kingswood U.S., part of a network of independent wealth management firms that oversees more than $15 billion in client assets globally, announced the acquisition of the Nashville-based Eudaimonia Partners and Eudaimonia Advisors. Additionally, the firm entered a strategic alliance with Eudaimonia Asset Management, a turnkey asset management-based registered investment adviser. According to Kingswood, the three RIAs under the Eudaimonia Group collectively represent more than $1 billion in total client assets.
Eudaimonia founder and president John Goodson will continue to lead his team of 17 advisers and support Kingswood U.S. as president of his group, serving as the head of Kingswood’s Nashville office.
Goodson will also help lead growth efforts nationwide, recruiting like-minded advisers and consulting on potential M&A-based expansion. The 36-year industry veteran will maintain his $100 million book of business and will report to Michael Nessim, chief executive officer, president, and managing partner of Kingswood U.S.
Scott Poore, who heads Eudaimonia Asset Management, will continue to oversee its operations. Kingswood U.S. will serve as a strategic partner to the TAMP, or turnkey asset management program, and Kingswood U.S.-affiliated advisers can now utilize the TAMP as part of their client offerings.
“As the wealth management industry continues to evolve, it is critical for a firm of our size to seek additional scale and exceptional talent to ensure we are positioned to succeed in the future,” said Nessim. “John, Scott, and the entire Eudaimonia team are the right partners for Kingswood U.S. Their expertise in growing advisory businesses, coupled with their experience in running an exceptional TAMP, make them the perfect fit for our growing business.”
Goodson said: “Our goal has always been to enhance the lives of everyone we touch, and our strategic partnership with Kingswood U.S. is a critical component of our continued success. After working with Mike and the Kingswood leadership team, it became clear that Kingswood was the right choice for our firm to achieve our goals and keep our commitment to always put the adviser first in our decisions.”
As previously reported by The DI Wire, Kingswood also recently added four new members to leadership roles in its investment banking team.
Kingswood U.S., part of the Kingswood Group, is a network of wealth management firms that includes an SEC-registered RIA and a FINRA-licensed broker-dealer. It offers comprehensive wealth management and business-building services designed specifically for the independent financial adviser. The company represents more than $15 billion in assets under management and supports 400 registered individuals.
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