Vivaldi Capital Management, LP (“VCM”), a privately-owned wealth management firm, is pleased to announce the acquisition of San Diego based Cornerstone Wealth Management. Vivaldi is headquartered in Chicago with regional offices in San Francisco and Cleveland. Both Cornerstone and Vivaldi are noted as independent fee-only investment advisors with significant expertise in alternative investments. With the addition of Cornerstone on October 1, 2020, Vivaldi’s assets under management are expected to top $3 billion.
“I am confident that we are joining the very best Registered Investment Advisor in the country for Cornerstone and our clients” said Chris Meacham, founder of Cornerstone. “We could not hope for a better match in core values and Vivaldi brings significant depth from an investment and technology perspective that will be a direct benefit to our clients.”
Founded in 1999, Cornerstone has primarily served families in the San Diego area through a multi-family office approach. As of their latest SEC filing, Cornerstone managed $182 million in client assets. In addition to gaining Cornerstone’s wealth management practice, Vivaldi has also become the General Partner of Cornerstone Diversified Portfolio, a private fund primarily invested in Real Estate strategies.
In recent years, Vivaldi has attracted several advisors to partner with the firm. Vivaldi has an in-house alternatives platform that is built on a ten-person research team that performs manager due diligence across equities, fixed income, and alternatives such as hedge funds, real estate, and private equity. Vivaldi’s team delivers institutional investment strategies that allow advisors to spend more time on other value-add services such as financial planning.
“I can’t say enough about the quality of leadership and the team from Cornerstone. They are a great fit for us as a firm,” said Michael Peck, President of Vivaldi. “We are also very excited to expand our presence in California especially in a market as strong as San Diego.”
Vivaldi was founded in 2011 and has grown at a 30% annual rate each year since then. The firm was recently featured as a leader in alternatives as part of the Financial Times Top 300 RIA list. (https://www.ft.com/content/7a546652-fa20-4565-8dd0-100e8f204900)