Flexpoint Ford-backed Clearstead buys wealth management firm Avalon Trust

• Avalon represents Clearstead’s second acquisition since Flexpoint Ford’s majority investment in February 2022
• Also, Avalon’s Andrew Wallerstein, Christine McDermott, and Julia Peters will become partners of Clearstead
• District Capital Partners served as financial advisor to Clearstead on the transaction while Colchester Partners served as financial advisor to Avalon Trust 

Clearstead Advisors, which is backed by Flexpoint Ford, has acquired New Mexico-based Avalon Trust, a wealth management firm. No financial terms were disclosed.

Avalon represents Clearstead’s second acquisition since Flexpoint Ford’s majority investment in February 2022.

Also, Avalon’s Andrew Wallerstein, Christine McDermott, and Julia Peters will become partners of Clearstead.

Clearstead Chairman and CEO Dave Fulton said in a statement, “We are excited to join forces with Avalon. Partnering with the Avalon team furthers our strategy of providing high net worth families across the United States a holistic and differentiated wealth management offering. The Avalon team members are outstanding individuals who have done a first-rate job in building a leading wealth management and trust business. In particular, Avalon’s focus on client values aligns with our Sustainable Clearstead initiatives. We are delighted to have them as partners.”

District Capital Partners served as financial advisor to Clearstead on the transaction while Colchester Partners served as financial advisor to Avalon Trust.

Founded in 1989, Clearstead is a Cleveland-based wealth management firm. The firm has $26 billion in assets under advisement and management.

Founded in 1998, Avalon manages approximately $2 billion in assets under management.