Riverwater Partners acquires Germantown investment advisory firm

Deal creates largest Wisconsin-based advisor focused on responsible investing

Greg Wait
Greg Wait

Milwaukee-based institutional money management firm Riverwater Partners announced today that it has acquired Germantown-based Falcons Rock Investment Counsel LLC.

Terms of the transaction were not disclosed.

The deal creates a firm with more than $500 million in assets. It will be the largest Wisconsin-based advisor focused on responsible investing, according to a news release from Riverwater Partners.

Greg Wait, who founded Falcons Rock in 2003, will join Riverwater Partners as a partner.

“Riverwater shares my dedication to responsible investing and personalized client service,” Wait said it the news release. “I’m honored to join the Riverwater team and bring the combined firm’s resources to bear for both current and future clients.”

In addition to Wait, two Riverwater team members will also become partners of Riverwater Partners. Cindy Bohlen and Nathan Fredrick will join in ownership with Wait and Riverwater’s existing partners: Adam Peck, Laura Peck and Matt Drvaric. Wait and his team will move their offices to Riverwater’s downtown Milwaukee location.

Adam and Laura Peck co-founded Riverwater Partners in 2016 as the first firm in Wisconsin solely dedicated to responsible investing. Riverwater manages small- and mid-cap domestic equity portfolios for both institutional and individual investors. Riverwater applies environmental, social and governance criteria as it builds portfolios.

The acquisition of Falcons Rock adds expertise in serving institutions, nonprofits and high-net-worth clients, Riverwater said in its news release.

“Riverwater’s mission is to achieve superior returns through value(s) investing while also generating positive impacts on society,” Adam Peck said. “We are excited to join with Greg and his team to continue to build a firm dedicated to responsible investing. Together we can bring more depth and experience to serve institutions, nonprofits and individuals.”

Sign up for the BizTimes email newsletter

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.

No posts to display