Terms of the deal, announced Thursday, Dec. 19, were not disclosed.
The Beachwood office is to be managed by Proper Analysis principals and current Vivaldi partners William Proper and Greg Goldfeder.
“As we’ve rapidly grown across our Chicago headquarters and California locations, we continue to seek out firms that are a strong cultural fit within our wealth management philosophy,” said Vivaldi president Michael Peck in a statement. “Both Bill and Greg are highly regarded in the industry and their practice is a natural extension of the Chicago platform.”
The Northeast Ohio firm, founded in 1993 as a fee-only registered investment advisor (RIA) by Proper, reported $291 million in assets under management (AUM) in its most recent public filing.
Vivaldi, founded in 2011, has grown at a 30% annual rate each year since then, according to the company, and presently reports about $2.8 billion in AUM through its group of affiliates. The firm was recognized as the 36th fastest-growing RIA in 2019 by Financial Advisor Magazine.
For Vivaldi, the expansion extends the company farther east, adding to its Chicago headquarters and three other offices in California.