MHB Advisers, LLC

Specialist Investment Bankers Serving the Global Asset and Wealth Management Industries


Decades of experience providing investment banking services tailored to our clients’ needs

MHB was founded over 10 years ago to help executives and owners of asset and wealth management firms navigate a variety of important strategic initiatives.

Whether it’s helping our clients sell a stake in their firm, raise growth capital, acquire a new capability, execute a management buyout, or implement a succession plan, we provide steady guidance and practical advice every step of the way.

Our advice is grounded in extensive experience, but our success lies in careful listening. Every engagement we take on is tailored to the needs of our client. We take the time to understand our clients’ goals, objectives, sensitivities and timeframes. We then work collaboratively with them to develop and implement effective strategies that lead to optimal outcomes for all relevant stakeholders.

We’ve built our reputation as trusted advisors one client at a time, over a long period of time. While MHB is a decade old, the three of us have enjoyed working with one another for the better part of the last 20 years, first at Putnam Lovell and now MHB. Along the way we’ve been privileged to represent a variety of dynamic independent managers as well as some of the largest and most well-respected financial services firms in the world.

Like many of our clients, we’re entrepreneurs who work hard every day on behalf of the clients we serve. Our success is completely aligned with our clients’ success. We love what we do and we’re passionate about helping clients solve important problems and achieve exceptional results.

Our Firm

MHB Advisers is an investment banking advisory firm focused exclusively on the global asset and wealth management industries


Our three partners have over 75 years of combined financial services experience and more than 50 years of experience executing sell-side and buy-side M&A engagements, strategic consulting mandates and valuation assignments for clients around the world.


Our exclusive focus is on the asset and wealth management industries where we have served as trusted advisors to a broad array of traditional, alternative and private wealth managers covering nearly every asset class and investment style.


We have cultivated deep networks of industry executives and influencers around the world, providing superior market intelligence and access for our clients. We have successfully completed engagements with buyers and sellers in the U.S., Canada, Australia, Hong Kong, India, Singapore and Europe.


We are committed to providing unbiased advice and we have no other business lines that potentially create conflicts. Our engagements are highly customized such that our success is completely aligned with successful outcomes for our clients.

Our Services

We provide a variety of services focused on ownership transitions, from initial preparation through to transaction execution

M&A Advisory

  • Sell-Side M&A (Minority and Majority Sales)
  • Buy-Side M&A (Acquisitions, Investments)
  • Management-Led Buyouts
  • Recapitalizations

Strategic Advisory

  • Business and Governance Reviews
  • Equity Incentive Design
  • Succession Planning
  • Transaction Readiness and Valuations

Our Clients

Our partners have served as trusted advisors to a wide variety of investment firms since the mid-1990’s, from independent specialists to diversified global institutions

Wealth Managers

  • RIAs
  • Private Wealth Advisors
  • Family Offices

Traditional Asset Managers

  • Equity and Fixed Income Managers
  • Listed Real Estate Managers
  • Multi-Affiliate Managers

Alternative Asset Managers

  • Private Equity, Venture & Hedge Fund Managers
  • Alternative Credit Managers
  • Real Estate Managers

Our Partners

All three of our experienced partners are actively involved in each client engagement, delivering sound guidance, advice and analysis at every step along the way

Roger Hartley

Co-Founder and Managing Member


(415) 464-4940


(510) 207-1675



Jeff Bechtel

Managing Member


(415) 464-4941


(415) 867-1230



Robert Kennedy

Managing Member


(415) 464-4943


(415) 794-8487



Our Transactions

We have advised on more than 45 M&A transactions and numerous strategic advisory engagements, helping our clients transact more than $250 billion of assets under management

Merged with

Transacted AUM:

$600 million

Sellside Engagement – Advised on Strategic Sale

We represented Beekman Wealth Advisory, a leading provider of custom investment advisory services for select ultra high net worth families with approximately $600 million of AUM, on its sale to Prime Quadrant, a Canadian wealth manager and partner firm of Focus Financial Partners overseeing more than CAD$21bn of client assets.

Optimal outcome for Beekman with numerous strategic benefits for both firms:

  • Culturally compatible firms with a shared investment approach and vision for serving UHNW client families
  • Beekman becomes the U.S. beachhead for Prime Quadrant as it seeks to expand outside of Canada
  • Cross-border client servicing and referral opportunities for both firms
  • No change to Beekman client relationships and portfolios, ensuring continuity and continued service excellence
  • Full liquidity for Beekman’s founder at attractive terms
  • Increased professional growth opportunities for all Beekman team members

sold a strategic minority interest to

Transacted AUM:

A$10 billion

Sellside Engagement –Advised on Sale of Strategic Minority Interest

We represented Koda Capital, a leading independent Australian wealth management firm advising high net worth and

not-for-profit clients with more than A$10bn of AUM, on the sale of a strategic minority interest to Emigrant Partners,

a Connecticut-based investment firm focused on the wealth and asset management industry with 17 partner firms managing approximately $90b of aggregate AUM

The investment provides several strategic benefits to Koda Capital:

  • Experienced long-term partner making its first investment outside U.S.
  • Consolidated management ownership and provided liquidity to a number of early external non-management owners
  • Supports Koda’s next phase of growth via balance sheet capital and expertise
  • Continued independence and autonomy
  • Network of resources through Emigrant’s wealth manager partner firms
  • Strong cultural fit, with shared values and goals


Transacted AUM:

$200 million

Buyside Engagement –Advised on Strategic Acquisition

We represented True Capital Management, a specialized wealth and business management firm focused on professional athletes with more than $2bn of AUM, on the acquisition of FS Wealth Sports and Entertainment, a Nashville-based wealth manager serving athletes, entertainers and other high net worth clients with approximately $200m of AUM

The transaction provides a number of strategic benefits to True Capital:

  • Geographic expansion to the eastern half of the country, complementing its West coast footprint in San Francisco, Los Angeles and Seattle
  • On-the-ground presence in Nashville, one of the most dynamic sports and entertainment hubs in the US
  • Highly complementary client base across professional sports leagues including the NFL, NHL, MLB and PGA, and deeper penetration into the entertainment community, including musicians, singer-songwriters and actors
  • Significant business synergies and avenues for growth
  • Strong cultural fit, with shared values and goals
  • Attractive incentive-based financial structure that aligns interests of all parties to the transaction

sold a minority equity interest to an affiliate of

Transacted AUM:

$1.2 billion

Sellside Engagement – Advised on Sale of Minority Equity Interest

We represented True Capital Management, a specialized wealth and business management firm focused on professional athletes with more than $1.2bn of AUM, on the sale of a minority equity interest to an affiliate of Cresset Capital, a wealth manager and multi-family office with approx. $10bn of AUM

Transaction resulted in an optimal outcome for True Capital and its owners:

  • True remains an independent wealth manager on a strong growth trajectory, with the added support of a rapidly-growing partner
  • Ability to leverage Cresset’s national footprint, its financial and operational resources, and its unique alternative investment offerings for the benefit of clients 
  • Strong cultural fit, with shared values and goals
  • Significant equity ownership retained by principals of True
  • Liquidity for True’s initial seed investors, led by former San Francisco 49er and NFL Hall of Famer Ronnie Lott
  • Preservation of True’s unique culture fostered over more than a decade
  • Minimal disturbance to business and client relationships