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