SEIA Adds $1.6B Select Money, AssetMark as Custodian

Los Angeles-based hybrid registered investment advisor Signature Estate & Investment Advisors continues to climb above the $30 billion in assets club with its second-largest acquisition.

SEIA has acquired Select Money Management, a $1.6 billion RIA based in Aliso Viejo, Calif. In April 2024, it bought its largest RIA, a Cleveland-based firm with $2 billion in assets.

With its latest California deal, SEIA also adds AssetMark as a custody option to complement Schwab and Fidelity. 

Having multiple custodians to lure advisors and more easily integrate clients will likely be helpful for the firm, which is publicly targeting $100 billion in client assets by about 2030. The firm’s acquisition push started in earnest in 2022 after Reverence Capital Partners invested an undisclosed amount in the RIA. 

SEIA currently has 28 offices and over 200 employees and is using a “three-pronged” approach to growth, which includes “advisor recruitment and development, acquiring culturally aligned firms, and enabling internal expansion through its hub-and-spoke model.” SEIA has a 1099 affiliation model to go along with its W-2 employee model and has recently been bringing advisors over from its 1099 into the employee fold.

It has also been hiring leadership quickly to oversee its advancement. In April, it brought on Matt Matrisian from AssetMark to be president, followed by naming finance and accounting specialist Stephen Masterson CFO, and finally, financial planning lead Brad Repinsky from Fidelity Investments as director of estate, tax and financial planning.

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The deal for Select Money will bring with it a new office in Orange County, 10 additional staff members, and a client base in various states in the nation. According to the announcement, the firm has had “consistent double-digit organic growth,” and it specializes in faith-based and values investing.

“This partnership is about continuity and care,” Tony Amaradio, founder and chief strategist of Select Money, said in a statement. “Partnering with SEIA provides the stability, scale, and succession planning needed to serve families for generations to come.”