Soltis Advisors Announces Capital Partnership with Estancia Capital Partners and LLR Partners to Accelerate Growth and Enhance Service Offerings

ST. GEORGE, Utah–(BUSINESS WIRE)– Soltis Investment Advisors (“Soltis”), a Registered Investment Adviser with more than $9 billion of client assets, today announced the company has entered into an agreement with Estancia Capital Partners (“Estancia”) and LLR Partners (“LLR”) for an investment to help support the firm’s next phase of growth.

The new partnership will help provide Soltis with an infusion of growth capital, as well as additional value creation resources and expertise to support the firm in delivering comprehensive wealth management and retirement plan services. In addition, the investment is aimed to help Soltis selectively grow its team of talented financial advisors, explore potential acquisitions and enhance service offerings.

“The wealth management industry in the U.S. is large and fragmented with many firms. Soltis represents the upper echelon of these firms, in terms of its collegial culture, dedicated advisor teams, and highly satisfied clients. This has led to Soltis advisors attracting a growing number of clients at an industry-leading pace.” said Estancia Managing Director Dana Alan Kurttila. Added Takashi Moriuchi, Co-Founder and Managing Director of Estancia, “We are thrilled to partner with Soltis and assist the company in bringing its advice and investment offerings to more markets. Management’s desire to
continue to innovate for the betterment of its clients and advisors is a clear differentiator that we will steadfastly support.”

“The RIA industry is at an exciting inflection point that presents firms like Soltis with the opportunity to accelerate growth both organically and through acquisitions,” says Sam Ryder, Principal at LLR Partners. “Soltis is a unique RIA platform with a highly talented team that we believe is well positioned to continue to capitalize on industry tailwinds in favor of the independent RIA offering.”

Since 1993, Soltis has been serving clients nationwide from its headquarters in St. George, Utah, and it expanded to Salt Lake City in 2015. Over the past 5 years, the growth of the firm led to the creation of additional offices in Phoenix AZ, Dallas TX, Seattle WA, Novi MI, and Boston MA. The firm currently has more than $9 billion in assets under management or advisement. In addition to wealth management and financial services to individuals, high net worth, and family offices, Soltis serves as a plan fiduciary under ERISA 3(21) and 3(38) for retirement plan clients, endowments and foundations.

Soltis is excited about what this partnership will mean to its firm and clients. “We’ve spent the last year evaluating our next phase of expansion and who our new institutional partner should be to help fuel growth in a competitive, financially secure way. Our chosen partner had to share our vision for growth and help us expand our capabilities,” says Kim D. Anderson, Soltis President and CEO. “We identified Estancia and LLR as the ideal fit.”

“As we expand our brand nationwide, this strategic partnership will help to augment our expertise and the services we offer our clients,” says Anderson. “We’ll have the capital to continue to expand our company ownership to additional partners and employees. We’ll also benefit from added compliance oversight and advisement, and from Estancia and LLR’s expanded knowledge of best practices they’ve observed throughout the industry.”

The management team at Soltis will continue in their respective roles. All current partners will retain ownership interests, with the new capital partnership helping to provide broader ownership opportunities for Soltis employees and capital to support growth initiatives.

Anderson added, “The continuing ownership by current partners and the addition of new partners in the future will better align our leadership team, motivate our entire firm to maintain our culture and values, and enhance client engagement. We’re driven by the same goal that has driven us since our founding–helping our clients achieve the financial freedom they need to do what brings them joy.”

“We are grateful for the essential contributions and innovative vision of our original founders Lon E. Henderson and Hyrum W. Smith. We have greatly enjoyed and will always appreciate our partnership with Emigrant Partners. As a Strategic Investor since 2010, Emigrant has provided capital and resources to assist Soltis in progressing to achieve our long-term objectives to deliver world class service to our clients and growth opportunities for our entire team,” says Hal G. Anderson, a Founder and Chairman of the Board. Emigrant Partners will exit its investment in Soltis in this transaction.

“It has been a pleasure working closely with the Soltis management team to support the Company as it has grown into the leading business it is today,” stated Emigrant Partners CEO, Jenny Souza. “With our partnership spanning more than a decade, Soltis exemplifies the value of Emigrant’s long-term investment philosophy. We wish them well in their continued evolution with Estancia and LLR.”

Soltis was advised by Moelis & Company LLC and Alston & Bird LLP. Estancia was advised by Ardea Partners LP and Dechert LLP and LLR was advised by William Blair and Company, LLC and Goodwin Procter LLP.

ABOUT SOLTIS

Soltis Investment Advisors, LLC is an SEC registered investment advisory firm based in St. George, Utah. With more than$9.0 billion in assets under management/assets under advisement, Soltis is one of the largest independently owned and operated wealth management firms in Utah. Soltis provides comprehensive financial planning and investment management services to individuals and families. In addition, the firm offers investment advice and consultation services to retirement plan sponsors (primarily small to medium sized businesses that have experienced a significant level of success). As a fee-only firm, Soltis does not receive any commissions or third-party compensation. The firm’s fiduciary status provides a legal framework within which clients enjoy professional financial advice and investment options driven by their best interests, goals and objectives. Soltis has been recognized by the Financial Times (top RIA and top Plan Sponsor lists) and Barron’s (the only Utah independent Registered Investment Advisory firm on the 2015 top independent advisors list). Soltis did not pay any compensation in connection with its inclusion in these recognitions, ranking or awards. Soltis, however, in most cases subsequently purchased marketing materials from the respective award sponsor. The firm, founded in 1993, is one of the few in Utah to have been recognized across multiple rankings in multiple years. At Soltis, the mission is to create, build, and manage wealth so clients are free to pursue life’s most important endeavors. For more information, including the selection criteria for the rankings and recognition by the publications mentioned, visit www.soltisadvisors.com.

ABOUT ESTANCIA

Estancia is a specialist private equity firm investing in lower middle-market companies providing mission-critical solutions to the financial system. Estancia’s Principals have a history of successfully partnering with management teams in providing buy-out and growth capital to facilitate strategic development of portfolio companies including management buy-outs from larger financial firms, private ownership/succession transitions, growth initiatives and team lift-outs. For more information, visit www.estanciapartners.com.

ABOUT LLR

LLR Partners is a private equity firm investing in technology, financial services and healthcare businesses. We collaborate with our portfolio companies to identify and execute on key growth initiatives and help create long-term value. Founded in 1999 and with more than $6 billion raised across seven funds, LLR is a flexible provider of equity capital for growth, recapitalizations and buyouts. Learn more at www.llrpartners.com.

ABOUT EMIGRANT PARTNERS

Emigrant Partners is a specialist capital and advice partner that makes minority non-voting investments into wealth and asset management businesses. EP has 20 partner firms overseeing more than $100 billion in assets under management and assets under advisement. EP crafts tailored, flexible solutions for each of its partner firms, and critically allows partner firms to retain control over their strategy, investment decisions and day-to-day operations. EP investments are structured for the long term. More information is available at: www.EmigrantPartners.com.

Contacts

Brent Moore
800-735-1601, brent@soltisadvisors.com
OR
Bryson Despain
435-272-6050, bryson@rukkusstrategies.com
OR
Emily Godfrey
484-467-8517, egodfrey@llrpartners.com