The RIA Experts

The Strategic Capital Partner for Independent Wealth Management Firms.

ATON Associates partners with exceptional RIAs and wealth management businesses seeking growth capital, strategic guidance, and long-term alignment.

Our Approach Contact Us

Industry Experts

Decades of experience advising, operating, and investing in wealth management businesses.

Aligned Partners

We invest alongside founders and management teams with a long-term, values-driven approach.

Growth Focused

Providing the capital, strategic insight, and resources to accelerate organic and inorganic growth.

Preserve Independence

We empower management teams to lead and build enduring, client-focused enterprises.

Our Approach

Industry Expertise Creates Value at Every Stage

Sourcing

  • 80+ years combined experience
  • Powerful network of RIA relationships
  • Personal brands developed over decades
  • Access to opportunities outside banker-led auctions

Underwriting

  • Identifying firms of the future
  • Platforms with ability to scale
  • Firms optimizing key growth drivers
  • Next generation client acquisition
  • Differentiated products and services

Managing

  • Continuous value add post-investment
  • Client referrals and centers of influence
  • M&A strategy and execution
  • Advisor recruiting support
  • Direct to consumer marketing

What We Invest In

Disciplined Criteria. Long-Term Partnership.

Financial Criteria

  • $2B+ Assets Under Management
  • $2M+ EBITDA
  • $10M+ check size
  • Up to 24.9% equity stakes (no client consents required)

Operational Criteria

  • 10%+ annual organic growth
  • Management continuity with deep bench
  • Fee-only or fee-based model
  • Clean regulatory background
~$15T
Projected RIA market by 2028
~98%
Average RIA client retention rate
$84T
Generational wealth transfer underway

Value-Added Services

More Than Capital

What differentiates ATON relative to other capital providers are the value-added services we provide to help firms unlock growth and lasting performance.

M&A Guidance

  • Acquisition strategy and deal sourcing
  • RIA valuation and due diligence
  • Deal structuring and negotiation
  • Integration planning
  • Succession planning and exit strategies

Growth Initiatives

  • Organic growth initiatives
  • Platform capabilities development
  • Referral program optimization
  • Advisor recruiting support
  • Share of wallet expansion

Operations Consulting

  • Service expansion (buy, build, partner)
  • Custodian and vendor fee negotiation
  • Technology integration and optimization
  • PR strategy and brand building
  • Partner meeting assistance

Financial Consulting

  • Client segmentation and pricing
  • Financial and strategic planning
  • Compensation structure design
  • Equity and incentive plans
  • Increased use of alternatives

Our Team

The Leadership Team

Peter Nesvold, Partner at ATON Associates

Peter Nesvold

JD, CFA, CPA

Partner

25+ years Wall Street experience. Former Bear Stearns Senior MD, former Lazard portfolio manager. Author of 4 books on M&A.

David Canter, Partner at ATON Associates

David Canter

JD

Partner

Former Head of Fidelity RIA & Family Office. Former President Bluespring Wealth Partners. Strategic advisor to CAIS and McKinsey.

Harris Komishane, Partner at ATON Associates

Harris Komishane

CFA, CPA

Partner

Former Head of Finance & Strategy at Fidelity Investments. Former CFO/COO Devonshire Investors. 28-year Fidelity career.

Ruotao Wang, Director at ATON Associates

Ruotao Wang

CFA, JD

Director

Former VP Raymond James IB. Former Barclays associate, JP Morgan analyst. Harvard Law JD.

Track Record

Current Portfolio

Selected Personal Investments

Indivisible Partners Modern Wealth Management Pathstone Family Office Pure Financial Stratos Wealth Partners Vanilla VestGen Wealth Partners XY Planning

Contact

Let's Start a Conversation

We work with a select number of exceptional RIA firms. If you're seeking a long-term strategic partner — not just capital — we'd like to hear from you.

Get In Touch

ATONassociates.com