MONECO Advisors Receives Strategic Minority Investment from Emigrant Partners

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Jun 26, 2023, 12:00 ET

NEW YORK, June 26, 2023 /PRNewswire/ -- Emigrant Partners ("EP") announced a strategic, nonvoting minority investment in MONECO Advisors ("MONECO"), its third direct investment in 2023 which expands EP's current portfolio to a total of 21 platform investments. MONECO is an independent wealth management business headquartered in Fairfield, CT managing more than $1.5B in assets under management across more than 2,300 clients. EP's partnership will provide MONECO with capital and strategic resources to support the firm in its next phase of growth.

"We are excited to welcome the MONECO team to the Emigrant Partners network. MONECO's differentiated client and community-centric model, advisor partnership platform, and organic growth engine are highly compelling. We were thoroughly impressed with MONECO's leadership team and they are well positioned for future growth in the New York Tri-State area" said Jenny Souza, CEO and President of Emigrant Partners.

Charlie Rocco, a Managing Partner at MONECO, said, "When looking for a capital partner, we were determined to find a team that shared our commitment to our culture, clients, advisors and staff. EP's alignment with our vision allows us to maintain our core mission of putting 'clients first, always', while simultaneously providing us the scale to position our firm for long term success through both organic and inorganic growth. We look forward to our shared future."

"We feel the industry is undergoing massive change in how firms are structured to foster multigenerational relationships with clients. In partnering with EP, we are creating a new ecosystem to provide smooth succession planning while also developing the next generation of advisor to become equity partners." added Derrek Metz, a Managing Partner at MONECO. "By solving the equity question, we can all focus on what matters most: serving our clients both now and well into the future."

Republic Capital Group served as MONECO's exclusive financial advisor. Finn Dixon & Herling LLP served as MONECO's legal counsel.

MONECO Advisors, LLC

MONECO Advisors was founded in 1980 at a time when transactions ruled, and clients' best interests were often lost in the shuffle. Since its inception, the team at MONECO always felt that clients deserved more. The firm was built to provide a truly client centric approach: In-depth financial planning that puts each client's needs, priorities, and goals at the center of its relationships. The MONECO team is headquartered in Fairfield County, CT with offices in Connecticut, New Jersey, and Rhode Island. For more information, visit www.monecoadvisors.com

Emigrant Partners, LLC

Emigrant Partners is a specialist capital and advice partner that makes minority, non-voting investments into wealth and alternative asset management businesses. EP is currently partnered with 21 firms overseeing more than $90 billion in aggregate AUM and AUA. EP crafts tailored, flexible solutions for each of its partner firms, and critically, allows partner firms to retain control over their strategy, investment decisions, and day-to-day operations. EP is owned by Emigrant Bank. Howard Milstein and Barry Friedberg are Chairman and Co-Chairman of Emigrant Bank. More information is available at www.emigrantpartners.com.

Media Contacts:
Emigrant Partners: Lucy O'Brien, PRCG, [email protected]
MONECO Advisors: Eric Johnson, [email protected]

SOURCE Emigrant Partners