The parent company of Forbes Family Trust and LGL Partners has agreed to buy another multifamily office, expanding its footprint in Florida.
FWM Holdings said in a statement it was acquiring AM Global Family Investment Office, a multifamily office that manages approximately $400 million for a couple dozen clients.
Andrew Mehalko, who co-founded the West Palm Beach, Fla.-based AM Global in 2012, will become the co-chief investment officer of Forbes Family Trust. Before starting AM Global, Mehalko was the chief investment officer of GenSpring Family Offices, one of the more notable multifamily offices that oversees more than $13 billion.
“This combination will allow us to better serve our Florida-based high net worth clients and continue to enhance our comprehensive global investment solutions,” said Keith Bloomfield, the founding partner and CEO of Forbes Family Trust.
Forbes Family Trust is a global multifamily office based in New York City and Philadelphia, Pa., founded to serve the investment and planning needs of members of the Forbes family. In 2009, it began working with additional families and now advises on almost $5 billion in client assets.
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