Pure Financial Advisors Expands Midwest Presence with Fairhaven Wealth Acquisition
Deal News | Apr 15, 2025 | Lee Equity
In a strategic move to enhance its Midwest presence, Pure Financial Advisors, LLC, a San Diego-based financial education and advisory firm, announced its acquisition of Fairhaven Wealth Management, LLC, a firm located in suburban Chicago. Fairhaven, which manages nearly $900 million in client assets, joins Pure at the celebration of its 10-year milestone, bringing broader services and maintaining its distinct client-centric approach. This acquisition is Pure's second in 2025 and marks significant growth in the Chicago area, aligning with its intent to build on existing retirement consulting capabilities. Funded by Lee Equity Partners LLC and Emigrant Partners, LLC, this acquisition brings about an integrated service platform through cultural synergy anticipated to elevate the client experience and service offerings. Legal representation during the acquisition for Pure was provided by Katz Teller, while Hue Partners and Brightstar Law Group represented Fairhaven.
Sectors
- Financial Services
- Private Equity
Geography
- United States – The companies involved are based in the U.S., with Pure Financial Advisors located in California and Fairhaven Wealth Management in Illinois.
- Midwest, USA – The acquisition enhances Pure's presence in the Midwest region, a strategic focus area for growth.
Industry
- Financial Services – The acquisition is centered around financial planning, wealth management, and investment advice services, which fall under the financial services sector.
- Private Equity – Lee Equity Partners, a private equity firm, is a key participant in the transaction, providing backing and strategic support to Pure Financial Advisors.
Financials
- $900 million – The amount in client assets managed by Fairhaven Wealth Management.
- $8.02 billion – The amount in client assets managed by Pure Financial Advisors as of March 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pure Financial Advisors, LLC | Buyer | Company | A financial advisory firm headquartered in San Diego, California, focused on providing fee-only financial education and wealth management services. |
| Fairhaven Wealth Management, LLC | Target | Company | A financial planning and investment management firm based in Wheaton, Illinois, managing nearly $900 million in client assets. |
| Lee Equity Partners LLC | Private Equity Backer | Company | A middle-market private equity firm involved in funding the transaction and supporting Pure Financial Advisors. |
| Emigrant Partners, LLC | Connector/Advisor | Company | A capital and advice partner that played a role in connecting Pure Financial Advisors with Fairhaven Wealth Management. |
| Hue Partners | Representation for Fairhaven | Company | Advised Fairhaven Wealth Management during the transaction. |
| Brightstar Law Group | Legal Advisor for Fairhaven | Company | Provided legal advice to Fairhaven in the acquisition transaction. |
| Katz Teller | Legal Advisor for Pure | Company | Provided legal representation for Pure Financial Advisors in the transaction. |