Private equity firm Warburg Pincus is partnering with The Mutual Fund Store to further expand and develop the US investment adviser’s operations.
Warburg Pincus will bring its investment and expertise to the company, which will continue to be run by founder and CEO Adam Bold and his management team. Terms of the transactions were not disclosed.
The Mutual Fund Store delivers independent fee-only investment advice to clients in more than 70 company-owned and franchised stores across the US and its nationally syndicated radio program, “The Mutual Fund Show”, which Bold hosts.
“We started The Mutual Fund Store more than 15 years ago to provide fee-only, independent investment advice to hard working Americans. Our message has resonated with this group of people who have been largely ignored by the traditional financial services industry,” says Adam Bold, founder of The Mutual Fund Store. “We are very excited to partner with Warburg Pincus. This gives us the opportunity to grow and provide more hard working Americans the level of service and expertise our clients have come to expect.”
Michael Martin, Managing Director and Co-Head of Warburg Pincus’ Financial Services Group, says: “Through a commitment to an underserved market and an alignment of interests with its customers, The Mutual Fund Store has built a loyal following across the US. We believe there is a tremendous opportunity to build on The Mutual Fund Store’s success in providing sound investment advice to the mass affluent market. We are excited about partnering with Adam and the rest of The Mutual Fund Store team to accelerate the company’s growth plans.”
