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Verdence Capital Advisors Sells Minority Stake to Emigrant Verdence will use the fresh capital to hunt for more talent and further develop its family office and financial planning services. Emigrant Partners, a private equity subsidiary of New York Private Bank & Trust, has taken on another growth project in the registered investment advisory space. On Wednesday, it completed its minority investment in Verdence Capital Advisors, a wealth management and family-office firm based in Baltimore. Verdence opted for convertible equity, a type of seed financing for young companies, under the advisement of investment bank Park Sutton Advisors. Leo Kelly, CEO and founder of Verdence, said his firm will use the capital to expand its national brand through acquisitions and invest in its advisor and client-facing technology. 

North rockUnited statesLeo kellyKarl heckenbergYork private bankStratos wealth holdingsEmigrant partnersNew york private bankVerdence capital advisorsPark suttonRadnor financial advisorsSummit wealth partnersNorthrock partnersPure financial advisorsParallel advisorsFinancial advisors