On December 7, 2023, Cornerstone Wealth Group announced that it will acquire Sutton Wealth Advisors.
Under the terms of the transaction, Cornerstone Wealth Group (“Cornerstone”) announced that it will acquire Sutton Wealth Advisors (“Sutton”). The transaction is expected to close in the first quarter of 2024. Further terms of the deal were not disclosed.
Cornerstone, based in Huntersville, North Carolina, is a wealth management firm that offers financial advice to individuals, families, and businesses. Cornerstone is a partner firm of Focus Financial Partners (Nasdaq: FOCS). As of October 2023, Cornerstone had $1.1 million in assets under management.
Sutton, based in Tampa, Florida, is a wealth management firm with a focus on financial and estate planning for high-net-worth individuals and families. As of November 2023, Sutton had $392.7 million in assets under management.
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