Credent Wealth Management accelerates growth with capital

Auburn, IN, July 23, 2024 (GLOBE NEWSWIRE) — CX Institutional, LLC d/b/a Credent Wealth Management (“Credent”), a $2.6 billion RIA headquartered in Indiana, announced a strategic investment from Crestline Investors (“Crestline”), an alternative investment manager with over $18 billion in AUM. The funds will fuel Credent’s already active M&A strategy and will be used to further invest in the business, specifically Credent’s Advisor Solutions platform (“CAS”), a TAMP that leverages Credent’s best-in-class shared services platform to support independent advisors.

Since its launch in 2018, Credent Wealth Management has experienced robust organic and inorganic growth, with over 12 acquisitions. Credent’s growth has been driven by an integrated approach and investments in shared services, allowing advisors to focus on client service and growing their business. The company is led by a leading executive team who will continue in their existing roles through the partnership with Crestline.

David Hefty, CEO of Credent Wealth Management, emphasized the strategic importance of the partnership: “Working with Crestline enables us to continue our growth trajectory, accelerate investment in the business and expand our national footprint, while maintaining our commitment to exceptional client service and building a perpetual business owned by our advisors.”

“Credent has an exceptional management team with a strong track record of growth and is a perfect example of the type of companies we aim to support with Crestline’s flexible capital solutions,” said Albert Hicks, Vice President at Crestline. “We believe Credent is well positioned to continue executing on its growth strategy in an attractive, consolidating industry with its client-centric approach and differentiated investment platform solutions for advisors.”

Crestline’s investment will support Credent’s growth and development initiatives. Specifically, it will be used to fund additional M&A, invest in human capital to support expansion, and further develop the Credent Advisor Solutions platform, which enables advisors to run their own business with additional support from the Credent shared services team or join Credent’s RIA as an independent advisor.

“Credent had strong interest from many high-quality institutional investors and kudos to Crestline for creating a solution that was right for the company,” said Dan Seivert, CEO and Managing Partner of ECHELON Partners, who served as investment banker to Credent. “We are excited to see the returns and growth of this partnership in the years to come.”

ECHELON Partners served as Credent’s exclusive financial advisor on the transaction, while Katz Teller served as legal counsel. Alston & Bird served as legal counsel to Crestline.

About Credent Wealth Management

Credent Wealth Management provides commission-free, transparent, and impactful advice through financial planning, investments, and client-focused services. Credent has successfully acquired 12 RIAs in the past six years through a model that provides advisors with collaborative, customized transitions. In 2023, Credent was recognized by Forbes as one of the top RIA firms in the U.S.

About Crestline Investors, Inc.

Crestline Investors, Inc. is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York City, Toronto and Tokyo. The firm manages approximately $18 billion in assets (as of December 31, 2023) and specializes in private credit strategies, offering a diverse range of investment solutions through its direct lending, opportunistic and portfolio financing platforms. For more information, visit www.crestlineinvestors.com.

About ECHELON Partners

ECHELON Partners is a Los Angeles-based investment bank that provides a broad range of world-class investment banking, valuation and consulting services to the wealth and investment management industries. For more information, visit www.echelon-partners.com.