The Nashville-Based Firm Enhances the Growing Kingswood U.S. Fee-Only Business and Asset Management Services for Affiliated Advisors
NEW YORK, Sept. 24, 2024 /PRNewswire/ — Kingswood U.S., part of a network of independent wealth management firms that oversees more than $15 billion in client assets globally, today announced the successful acquisition of the Nashville, Tennessee-based Eudaimonia Partners and Eudaimonia Advisors (“Eudaimonia”). Additionally, it entered a strategic alliance with Eudaimonia Asset Management, a turnkey asset management-based RIA. 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 advisors and support the robust Kingswood U.S. as president of his group. The 36-year industry veteran will maintain his $100 million book of business. In his executive role, he will report to Michael Nessim, CEO, President, and Managing Partner of Kingswood U.S.
“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 will help lead growth efforts nationwide, recruiting like-minded advisors and consulting on potential M&A-based expansion in this space. He will serve as the head of Kingswood’s Nashville office, located at 818 18th Avenue South. Kingswood U.S. and Eudaimonia have long-standing custodial relationships with Raymond James and Charles Schwab, which will enable a seamless transition for Eudaimonia’s advisors and clients, limiting significant repapering requirements.
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. Over the past several years, we have explored several partnerships that would provide us with meaningful back- and middle-office support and allow us to grow while maintaining our deeply held values. 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 advisor first in our decisions.”
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 and Kingswood U.S.-affiliated advisors can now utilize the TAMP as part of their client offerings.
Jamie Golden, Kingswood U.S. head of acquisitions who leads M&A-based growth nationally and will partner with Goodson in Nashville, said, “Working with Eudaimonia and expanding our presence in the increasingly important southern market positions Kingswood U.S. for additional large-scale acquisitions. I look forward to working closely with John and the rest of the Kingswood team to capitalize on our opportunities across the country.”
The deal closed on September 1, 2024.
About Kingswood U.S. / Kingswood Group
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, offering comprehensive wealth management and business-building services designed specifically for the independent financial advisor. With our parent company, we represent more than $15 billion in AUM, and support 400 registered individuals. Kingswood has the resources and capital of a very large financial services firm and the personalized touch and feel of a boutique company. Kingswood has earned a reputation as a firm built for advisors by advisors.
About Eudaimonia Group
Eudaimonia Group is a Southeastern US investment advisory firm providing expertise, technology and strategic resources to equip independent advisers with LIFEVESTING®, our holistic financial management process, to support their clients’ health, happiness and prosperity. A key offering is Eudaimonia Asset Management (EAM), providing asset management, research and portfolio allocation services to our adviser partners. Eudaimonia Group’s culture values transparency, trust and independence, backed by decades of proven financial advisory experience to guide our financial adviser partners toward fulfillment and success.
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SOURCE Kingswood U.S.
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