Riverwater Partners, a domestic small- and midcap equity manager that specializes in responsible investing, acquired financial adviser Falcons Rock Investment Counsel, confirmed Riverwater spokeswoman Jody R. Lowe.
Terms of the deal, which closed Aug. 30, were not disclosed.
This acquisition brings Riverwater's assets under management to more than $500 million.
Falcons Rock founder Greg Wait will join Riverwater as a partner, while two Riverwater team members, Cindy Bohlen, chief mindfulness officer and an analyst, and analyst Nathan Fredrick, will be promoted to partner.
"We are excited to join with Greg and his team to continue to build a firm dedicated to responsible investing," said Adam J. Peck, co-founder of Riverwater Partners and chief investment officer, in a news release. "Together we can bring more depth and experience to serve institutions, non-profits and individuals."
Mr. Wait and his team will move to Riverwater's office in Milwaukee.
