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Aspiriant acquires Deloitte US advisory group

Aspiriant Investment Advisors plans to acquire Deloitte Investment Advisors (DIA), an investment advisory group owned by Deloitte Tax, a subsidiary of Deloitte US.

DIA was launched in 1998 and has about 40 professionals staff who provide investment advisory services to individual and institutional investors. It has a reported $2.9bn in assets under advisement for more than 450 clients.

Deloitte decided to sell DIA after a review of strategic opportunities for the business and an analysis of regulatory considerations.

The firm concluded divesting DIA provided the best opportunity for the group’s future growth.

“As part of the Aspiriant organisation, [DIA] will have greater latitude for growth through offering additional services and pursuing its own marketplace interests,” Deloitte Tax chairman and chief executive Chet Wood said.

The transaction is expected to be complete in September.

Aspiriant Investment Advisors is a subsidiary of US wealth management firm Aspiriant.

 

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