OnePoint BFG Acquires $2B Spahn Financial Partners

OnePoint BFG Wealth Partners, a registered investment advisor backed by Rise Growth Partners, has acquired Spahn Financial Partners, a Chicago-based advisory practice with $2 billion in assets under management. It is OnePoint BFG’s largest deal to date, bringing its total client assets to over $15 billion and the number of professionals nationwide to 200. Spahn Financial was founded in 1994 by Kevin Spahn, and the firm has been affiliated with Northwestern Mutual since then. Spahn still leads the firm, along with Timothy Funke, Kyle DeRaedt and Nirav Patel, all four of whom will become equity holders of OnePoint BFG. 

The practice will come under OnePoint BFG’s W-2 model, which was introduced earlier this year. 

This follows OnePoint BFG’s rebranding over the summer to signify its role as a one-stop shop for clients’ financial needs; the firm was previously known as Bleakley Financial Group, which became Rise Growth Partners’ first RIA investment last year. Rise Growth is the RIA investing company launched last year by former United Capital CEO Joe Duran. 

“When we unveiled our new brand earlier this year, I said that OnePoint BFG was designed to inspire—to represent not just where we are today, but where we’re going. Welcoming the Spahn team is a clear example of that vision in action,” Andy Schwartz, CEO of OnePoint BFG, said in a statement. “They share our purpose, our planning-driven approach, and our commitment to building something enduring for both clients and advisors.”

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The deal is one of numerous changes at the RIA since Rise Growth’s investment. OnePoint has launched an equity program for its advisors, hired a new chief growth officer and dropped its brokerage affiliation with LPL Financial in a move toward fee-based services. 

Fairfield, N.J.-based OnePoint BFG was founded in 1985 by twin brothers Scott and Andy Schwartz as a practice affiliated with Northwestern Mutual. 

Last week, Rise Growth made its third minority investment, taking a stake in Krilogy, a St. Louis-based registered investment advisor with more than $4 billion in client assets.