LOS ANGELES–(BUSINESS WIRE)–Lido Advisors, LLC (“Lido”), a leading wealth management firm for high-net-worth individuals, announced today the key strategic acquisition of Enterprise Trust & Investment Company (“ETIC”). ETIC is a leading California-based trust company providing private trustee services and investment management to high-net-worth individuals and families, local foundations, and endowments. The acquisition will enable Lido to expand its comprehensive wealth planning process designed to grow, protect, and maximize clients’ wealth.
Founded in 1995 and based in the Greater San Francisco Bay Area, ETIC manages approximately $800 million in assets, providing its clients with trust, fiduciary, and investment management services. ETIC has grown considerably over the years through a unique combination of trust expertise and personalized asset management.
“Given our family office approach to wealth management, Lido is constantly innovating to enhance our clients’ lives and legacies through high caliber wealth planning and investment solutions,” noted Jason Ozur, Lido’s Chief Executive Officer. “Our partnership with ETIC further solidifies that commitment by enabling personal trust services for all of our clients. We are incredibly impressed by ETIC and their management team, and the potential value they can bring to our platform and clients is truly exciting.”
Added Marc Rebboah, President & Chief Executive Officer of ETIC: “The core of ETIC’s vision has always been to provide our clients with an unparalleled level of personalized attention and act in their sole best interest to protect their assets. Lido shares our vision and commitment to excellence, while bringing significant resources and highly complementary expertise. We look forward to a long and successful partnership.”
The transaction is expected to close in Q3 2022, subject to customary closing conditions and regulatory approvals. Financial terms of the transaction were not disclosed. Alston & Bird LLP served as legal counsel to Lido. Piper Sandler served as exclusive financial advisor to ETIC and Manatt, Phelps & Phillips, LLP served as its legal counsel.
About Lido Advisors
Lido Advisors is a nationally recognized wealth advisory firm headquartered in Los Angeles, California, with over $11 billion in assets under management and 27 offices across the United States. The firm embraces an active approach to asset management focused on risk mitigation and access to alternative, core, and tactical investment strategies. Lido provides a family office experience to its clients with a deep commitment to personalized, comprehensive wealth planning and access to affiliated professionals providing bespoke tax, estate, and legacy solutions. Lido is focused on creating an innovative, high-touch client experience and becoming its clients’ financial life partner. For more information, please visit www.lidoadvisors.com.
About Enterprise Trust & Investment Company
Enterprise Trust & Investment Company is a California-chartered trust company headquartered in Los Gatos, California, with approximately $800 million in assets under management. The firm was founded in 1995 with the vision of serving as a local independent trust company that would deliver quality investment management and fiduciary services to high-net worth individuals and their families. Over 25 years later, ETIC continues to provide individualized attention, at the highest professional service levels, with a non-product and non-commission orientation. For more information, please visit www.enterprise-trust.com.
Contacts
Hirsch Leatherwood for Lido Advisors
lido-advisors@hirschleatherwood.com
