Historic global wealth management firm acquires area company

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NAPLES — A New York City wealth and money management firm that dates back to before the Civil War has acquired Naples Wealth Planning, a registered investment advisor (RIA) with four offices in Florida.  

Terms of the deal — Laidlaw Wealth Management buying Naples Wealth Planning —weren’t disclosed. The agreement, according to a statement, will add four new offices, in Naples, Tampa, Stuart and Miami, to Laidlaw’s existing Florida location in Boca Raton. Naples Wealth Planning will continue to operate under its brand name and will be led by Brian Bruneau, the COO of both Naples Wealth Management and its parent company, Capital Wealth Planning LLC. Upon completion of the transaction, Bruneau, with senior management experience at MetLife, Hartford Private Capital Management, Bank of America/Columbia Management and Zurich Financial Services, will join the Investment Committee for Laidlaw Wealth Management, the release adds.

Courtesy. Laidlaw Wealth Management CEO Richard Calhoun

“We are very excited about this opportunity to expand our presence in Florida and further serve that community with the great team at NWP,” Laidlaw Wealth Management CEO Richard Calhoun says in the release. “Both firms have experienced rapid organic growth and have a very strong cultural alignment. The combination of these two high quality platforms enhances our value proposition for our clients and advisors. In addition, having a presence in Miami is key to the growth of our international business, where we have a unique offering, existing client base and a strong desire to grow.”

In addition, adding Naples Wealth Planning allows Laidlaw to service and expand the 1099 model for advisors, the release states. “There is very little overlap since both companies work with the same custodian and technology stack, meaning the transition will be faster with very little disruption to our clients and advisors,” Bruneau says in the statement.

In addition to its New York City headquarters, Laidlaw & Co., founded in 1842 as one of the first investment banking firms on Wall Street, has additional offices in London, San Francisco, Greenwich, Conn., Boca Raton, Toms River, N.J. and Long Island, N.Y. Laidlaw is a full-service investment bank, brokerage and wealth management firm offering personalized investment advice for high net worth individuals.