A MAJOR MILESTONE & STRATEGIC PARTNERSHIP
I hope this message finds you well and thriving! I’m excited to share that Bay Street and Maridea Wealth Management have signed a Letter of Intent for the acquisition and partnership of Bay Street’s wealth management business. Although we are still a few weeks away from finalizing the transaction, we want to make sure that everyone is aware of the upcoming partnership. Over the next few weeks, we will connect with you 1:1 to introduce you to our new, expanded team.
Maridea is a distinguished firm known for their comprehensive wealth management and risk management services. Mier Wang, the Managing Partner and Founder, is a seasoned investor with experience as a senior professional at Silver Point Capital, a $20 billion asset manager. Maridea’s senior advisors, Dan Lidawer and Larry Koehler, joined after respectively stewarding Cresset ($40 billion) and Hightower ($130 billion) to the firms they are today.
What Our Partnership with Maridea Means to You:
- More Frequent Communication & Direct Access to Myself & Our Team
- Access to a Broader Range of Services
- Greater Expertise & Specialization
- Enhanced Client Security & Risk Management
- A Stronger and More Competitive Team
Acquisition Considerations:
Maridea is purchasing Bay Street’s wealth management practice at an industry-leading valuation. The partnership is a testament to you, our amazing clients, and the growth we’ve all experienced over the years. Our team realizes how fortunate we are to have your continued support and we look forward to sharing this moment with you.
Maridea will also be introducing capital for our hospitality funds. This component of our partnership with Maridea separated their team from the six other unsolicited offers we received over the last several months.
Although the final terms remain subject to the definitive agreement and transaction closing, we are very pleased with the overall respect and consideration Maridea has taken to establish this partnership.
How We Got Here:
In 2023, we crossed an amazing milestone at Bay Street by serving over 500 families. With our increased media exposure, award recognition, and growing number of clients, we’ve been looking for the most effective way for our clients to work with experienced, high-performing advisors to achieve new milestones.
A Few Important Points:
- As an existing client, you will still have direct access and support from me and the rest of the team at Bay Street. Additionally, you will gain access to a broader range of experienced advisors who will be able to streamline and directly address your unique financial needs.
- For all future clients, we will collaborate with Maridea.
- All Charles Schwab accounts and account access will remain the same.
By harnessing our combined expertise, resources, and shared commitment to excellence, we are excited for our expanded team to pioneer new standards of customer service and client success.
Our ultimate goal has always been to provide excellent customer service. As we’ve grown, we’ve seen a need for a broader range of support and services that we will now be able to offer through this partnership.
What’s Next?
- If you would like to proactively schedule a time to learn more, please schedule a call.
- Over the next few weeks, you will receive a positive consent form acknowledging that you agree to continue to work with me and our expanded team.
- I will be dual registered with the SEC as an advisor at Bay Street and Maridea. This will allow me to leverage both teams’ expertise more broadly and enrich our service offerings to you.
Expanded Leadership:
Closing Thoughts:
This partnership represents our unwavering commitment to providing you with the highest quality of service and expertise. We are enthusiastic about the opportunities this collaboration opens up for you and are eager to discuss how we can further your financial objectives through these enhanced capabilities.
Please text or call me (650-464-8275) with any questions about our exciting new chapter.
Thank you again for your continued trust and support. We look forward to serving you with greater resources and expertise.
With gratitude,
