IAA Forms Strategic Partnership with Cleveland Family Office

Brownhelm Capital makes long-term commitment to the growth of IAA and its advisors in acquiring a substantial ownership position in Pecunia Management

ORLANDO, Fla., April 10, 2023 /PRNewswire/ -- After receiving the proper regulatory approvals, the owners of Pecunia Management, the holding company for International Assets Advisory (IAA), Primus, International Assets Investment Management and Global Assets Advisory have entered into an agreement granting Brownhelm Capital a substantial ownership stake in Pecunia. Under the terms of the agreement, the entire management team will remain intact with Ed Cofrancesco continuing as CEO of Pecunia and all of its operating entities.

"I'm very proud of the spectacular growth that IAA has enjoyed over the last 16 years. But, the fact is I am not getting any younger and I needed to develop a succession strategy so the company would continue and the advisors and their clients would be taken care of beyond my tenure," said Ed Cofrancesco, IAA President and CEO. "Aligning IAA with a well-capitalized strategic partner, ideally a family office already involved in a different area of financial services, was important to me. Brownhelm was exactly the firm I had envisioned, and they too were searching for new opportunities."

"Brownhelm has a deep history in financial services and we have tremendous respect for what Ed has built here and the company's robust performance under his leadership," said Max Weber, Director of Investment Strategy for Brownhelm Capital. "IAA is a great company and we look forward to working with Ed and his outstanding management team to continue to grow the business and present new opportunities and additional support to IAA's network of advisors."

Going forward IAA will remain an independently operating organization with its own distinct brand, executive management team, and operational identity. It will not be consolidated with any of Brownhelm's other financial services operating entities, but rather exist as a sister organization alongside other Brownhelm assets.

The partnership with Brownhelm will give IAA improved access to growth capital to invest in additional products and services to help the firm's advisors build their businesses. Brownhelm is also assisting IAA with a range of high-value added services around human resources, W2 employee recruitment/training, corporate budgeting, and other back office functions.

"Our culture of independence is IAA's secret sauce and it was imperative to me that it be retained," Cofrancesco added. "From our first meeting, I could tell that Brownhelm, as a family office internally managed by involved family members, would have a unique understanding of the need to preserve the culture that we have worked so hard to establish and distill across our network."

About Brownhelm Capital

Brownhelm Capital is a single family office based in Cleveland, Ohio, focused on partnering with fund managers and management teams to create long term value. In addition to investing through third party fund structures, Brownhelm enjoys a flexible mandate to invest directly and opportunistically across a company's capital structure, lifecycle, industry, and geography. Our firm and founding family have a long history and association with the financial services and real estate sectors, and we seek opportunities to be a value-added investor in these industries. Brownhelm Capital is led by an experienced team with significant investment and operational experience, backed by a pool of permanent capital.

For more information visit https://www.brownhelmcapital.com/

About International Assets Advisory, LLC

International Assets Advisory, LLC ("IAA"), founded in 1982, is a privately held Broker-Dealer registered with the SEC and FINRA for over 30 years. At IAA, our vision is to excel as a relationship-driven, full service, independent financial services platform. As specialists in world financial markets, we enable investors to capitalize on a wide array of investment opportunities around the globe, including domestic and foreign stocks, bonds, mutual funds, options, insurance, annuities, and sophisticated retirement and estate planning services. The vision of our firm, since its very inception in the early 1980s, has been to take an investment approach that is not limited by frontiers. Opportunity abounds across the globe, not merely in our backyard. As a complementary approach, we also offer sophisticated retirement and estate planning services. Our objective in terms of our relationship with our clients is to provide a "holistic" methodology, one that does not look at investment portfolios or strategies in isolation. We seek to understand how our clients live in order to provide recommendations that make sense, not merely in the more limited terms of their financial lives, but more importantly in the wider context of their family, occupation, goals and dreams. IAA is headquartered out of Orlando, FL, but has independent advisors and branch offices throughout the United States. Further information is available at www.iaac.com

Securities Offered through International Assets Advisory, LLC Member FINRA/SIPC

CONTACT: Lisa Aldape
JConnelly
973 525 6550
[email protected]

SOURCE International Assets Advisory

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