Last updated: 19:00 / Sunday, 25 January 2015
Adding $2bn in assets

Wunderlich Completes Acquisition of Dominick & Dominick Wealth Management

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Wunderlich Completes Acquisition of Dominick & Dominick Wealth Management
  • After the acquisition Wunderlich has more than $10 billion in assets under administration, and 600 associates
  • Dominick & Dominick adds 43 financial advisors and more than $2 billion in client assets
  • Dominick & Dominick has presence in New York, Miami and Atlanta
  • Terms of the transaction were not disclosed

Wunderlich Securities has completed its acquisition of the wealth management assets of Dominick & Dominick, a privately-held investment firm based in New York. Wunderlich, a leading full-service investment firm headquartered in Memphis, Tennessee, now has more than $10 billion in client assets under administration and 600 associates in 33 offices across 18 states. Approximately 150 Wunderlich associates are based in the New York area, the largest concentration in the firm's footprint.

"We are pleased to have successfully completed our largest acquisition to date, both in terms of client assets and associates," said Gary Wunderlich, Wunderlich CEO. "Through this combination, our firm has grown by approximately 20%, adding 43 financial advisors and more than $2 billion in client assets. Looking forward, we are excited about the opportunity to further expand our presence in New York, Miami and Atlanta."

"After working together to prepare for this acquisition, we are even more confident that our similar cultures and shared focus on client relationships will ensure a smooth transition for Dominick & Dominick clients," added Wunderlich. "Dominick & Dominick financial advisors are now able to offer their clients additional resources and expertise available through Wunderlich."

Dominick & Dominick (D &D) will operate as a division of Wunderlich Wealth Management, the firm's private client group. Robert X. Reilly, who was chief operating officer of D &D, joins Wunderlich as a Senior Managing Director. Reilly will serve as regional manager over D &D offices in New York, Atlanta and Miami, as well as two existing Wunderlich Wealth Management offices in the New York area.

Kevin McKay, previously D &D CEO, has been named General Counsel of Wunderlich Securities. Michael J. Campbell, former D &D chairman, will join the Wunderlich Securities board of directors. Both will continue to be located in the D &D New York office at 150 East 52nd Street.

Terms of the transaction were not disclosed. Keefe, Bruyette & Woods, Inc. served as Wunderlich's exclusive financial advisor in the transaction. Baker Donelson served as counsel.

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