Rockefeller Capital Management has agreed to acquire Financial Clarity Inc, a multi-family office based in Mountain View, California. No financial terms were disclosed. Also, Stan Young, who founded Financial Clarity in 1992, will join Rockefeller as managing director and senior client adviser.
NEW YORK–(BUSINESS WIRE)–Rockefeller Capital Management today announced it has reached a definitive agreement to acquire Financial Clarity Inc., a multi-family office based in Mountain View, California. The acquisition represents the expansion of the Rockefeller Global Family Office into Northern California.
For over 25 years, Financial Clarity has partnered with Silicon Valley founders, venture partners and top executives in managing their expanding wealth, in addressing their increasingly complex financial planning needs, and in assisting in transferring their assets and values to the next generation. Stan Young, who founded Financial Clarity in 1992, will join Rockefeller as Managing Director and Senior Client Advisor. He will be a senior member of the team leading the Global Family Office’s Silicon Valley efforts.
“Stan Young is a talented and astute advisor to an exclusive group of highly sophisticated clients. I am impressed with the business he has carefully built centered around trusted advice and exceptional client service,” Timothy D. O’Hara, President of the Global Family Office said. “Stan is a pioneer in the space, early in launching a multi-family office to serve the broad needs of the ultra-wealthy with an unwavering commitment to clients. Financial Clarity’s distinctive business model, client base and collaborative culture make it an ideal fit with the Rockefeller Global Family Office. I look forward to working closely with Stan and expanding our presence in Silicon Valley.’’
“Since our founding, we have advised wealthy families on multi-generational planning, trust and estates structuring, investment advisory and areas of philanthropy that are most important to them,” Young said. “I greatly look forward to becoming a part of the Rockefeller team to continue this tradition.”
Financial Clarity oversees approximately $2.3 billion in client assets.
Rockefeller has recently expanded its presence on the West Coast, opening offices in San Francisco and Los Angeles. The Silicon Valley location is an important part of Rockefeller’s national strategy as the firm extends its footprint to align with where clients build businesses and create wealth. The transaction is subject to customary closing conditions and expected to close early in the fourth quarter of 2019.
Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Rockefeller.
About Rockefeller Capital Management
Rockefeller Capital Management is a leading independent, privately-owned financial services firm offering global family office, asset management and strategic advisory services to ultra-high-net-worth individuals and families, institutions and corporations.