SACRAMENTO, Calif. – Hanson McClain Advisors (“Hanson McClain”) and Simply Money Advisors (“Simply Money”), two leading financial planning investment advisory firms, have announced that they will merge. The merger, which remains subject to standard regulatory approvals, will provide an opportunity for Simply Money and Hanson McClain to combine resources and expertise–as well as more than 45 years of cumulative experience–to best serve clients across the West Coast, Rocky Mountain, and Midwest markets. As a result of the partnership between Hanson McClain and Simply Money the combined organization will be serving more than 6,200 clients and managing an estimated $3.3 billion in assets.
Simply Money co-founders Nathan Bachrach and Ed Finke will remain involved in the senior leadership team of the combined organization and continue hosting their daily Simply Money radio show.
“We are very excited to partner with the Hanson McClain team,” says Nathan Bachrach, co-founder and CEO of Simply Money. “Hanson McClain has a strong history of leadership and expertise in the financial planning sector, and we look forward to learning together as we grow.”
“Hanson McClain and Simply Money serve very similar client demographics with a consistent fiduciary, client-first, and planning-centric advisory experience,” added Scott Hanson, founder and co-CEO of Hanson McClain. “On a combined basis, we intend to make additional investments to continue improving the best-in-class client experience.”
“Providing financial education through our financial planning process, radio, television, and print media, and excellent service to our clients is our top priority. Over the past 20 plus years we have helped thousands of clients with their retirement planning needs,” says Ed Finke, co-founder and president of Simply Money. “We are both industry leaders on our own, and we will be even stronger and better together.”
“Our partnership with Simply Money is a great opportunity to grow together and provide a best-in-class client experience to more households than either would otherwise be able to individually accomplish,” added Pat McClain, co-CEO at Hanson McClain. “The future is bright, and we look forward to working with the talented team at Simply Money.”
In the summer of 2017, Hanson McClain announced its partnership with Parthenon Capital Partners (“Parthenon”), a growth-oriented private equity firm, to enable continued investment in client-first technology, people, and systems. In addition, with Parthenon’s support, Hanson McClain is actively seeking mergers and acquisitions to expand its business model in new and existing markets. The merger with Simply Money represents Hanson McClain’s first such partnership as part of its goal of entering new geographies by combining forces with like-minded financial advisory firms.
Andrew Dodson, a managing partner at Parthenon, added, “We have built a relationship with Nathan, Ed, and the Simply Money team over the past several years and believe the combination with Hanson McClain represents a compelling combination of highly complementary firms. We look forward to working with the combined organization to promote additional client-first growth initiatives, including opportunities to partner with like-minded firms and advisors.”
About Hanson McClain Advisors
Hanson McClain Advisors (www.HansonMcClain.com) is an independent investment financial advisory firm that specializes in retirement planning, investment advising, and 401(k) management with a direct approach to financial planning. Hanson McClain delivers long- and short-term investment planning solutions and advice to help clients achieve their goals and plan strategically for retirement.
About Simply Money Advisors
Simply Money Advisors (www.simplymoneyadvisors.com), is an independent, Cincinnati based SEC Registered Investment Advisor. With almost 25-years serving individual clients, Simply Money Advisors creates and implements financial plans and investment strategies to guide clients now and through retirement. Simply Money Advisors provides financial education through Simply Money Media including radio, television, print, and digital content.
About Parthenon Capital Partners
Parthenon Capital Partners (www.parthenoncapitalpartners.com) is a leading mid-market private equity firm based in Boston and San Francisco. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in healthcare technology and services, financial and insurance services, and business services, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how. Parthenon’s investment team has deep experience in corporate strategy, human capital, capital markets, and operations, thereby enabling the firm to pursue complex, multi-faceted value creation opportunities.