United Capital Financial Partners, Inc., the parent holding company of United Capital Financial Advisers, a Newport Beach, CA-based registered investment advisory (RIA) firm, has received $38m in growth capital.
The round was led by a $30m investment from Sageview Capital, with participation from Bessemer Venture Partners (BVP) and Grail Partners.
Founded in 2005 by CEO Joe Duran, United Capital provides investors with an open architecture investment platform that enables a wide array of investment management solutions and strategies tailored specifically to their needs. It has 47 offices nationwide with $9 billion in assets under management and an additional $9 billion under advisement through its pension consulting affiliate.
The company will invest the new capital in marketing and branding, including the development of new lead generation and service models, while continuing to recruit advisers and making targeted acquisitions to expand capabilities and fill out its geographic presence. A portion of this funding will provide liquidity to existing adviser partners.