Transaction is the largest advisor practice acquisition in the history of Northwestern Mutual

NEW YORK, March 22, 2023 /PRNewswire/ -- Ben Feldman and Peter Tiboris, wealth management advisors and founding partners of Northwestern Mutual's Private Client Group Park Avenue Capital, have acquired Westport, Conn.-based Wunder Financial, a Barron's Top 1,200 firm.

"As a part of our continuity and succession planning, I'm delighted to partner with Pete and Ben's group that has shared values, talented people, and a philosophical alignment that resonates with me and my team," said Matthew Wunder, CEO of Wunder Financial. "I'm thrilled with the opportunity to merge the best of both worlds as we deepen our relationships with clients and continue evolving a world-class wealth management offering." 

Wunder remains head of Park Avenue Capital - Westport and has been named head of strategy and development for Park Avenue Capital's Advisor Succession Solutions division.

"Matthew has a tremendous high-caliber team that brings depth, knowledge and experience that drives instant strategic value for our organization," said Tiboris. "Matthew's insights will be critical as we continue to scale in this, the first of many strategic partnerships within Park Avenue Capital," said Tiboris.

With this acquisition, Park Avenue Capital approaches $2 billion in assets under management with offices in New York City, New Jersey and Connecticut. This transaction is the largest advisor practice acquisition in the history of Northwestern Mutual.

Feldman, Tiboris and Wunder are part of Northwestern Mutual's exclusive Private Client Group, an elite collection of advisors and firms that have the experience, sophistication and tools to customize advisory strategies and deliver better outcomes for high-net-worth clients. Visit Northwestern Mutual's Private Client Group to learn more.

About Northwestern Mutual 

Northwestern Mutual has been helping people and businesses achieve financial security for more than 165 years. Through a comprehensive planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what's most important. With more than $558 billion of total assets being managed across the company's institutional portfolio as well as retail investment client portfolios, nearly $35 billion in revenues, and $2.2 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than five million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. Northwestern Mutual ranked 97 on the 2022 FORTUNE 500. 

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance). Not all Northwestern Mutual representatives are advisors. Only those representatives with "Advisor" in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services.

Asset are under management of Northwestern Mutual Wealth Management Company. Figure refers to assets managed by NMWMC being serviced by NMWMC representatives associated with Wunder Financial and Park Avenue Capital as of March 2023.

Benjamin Peter Feldman, Richard A Goldman, David J Hachey, Ernest Peter Tiboris, Matthew Wunder and Seth Andrew Rivers use Park Avenue Capital as a marketing name for doing business as representatives of Northwestern Mutual. Park Avenue Capital is not a registered investment adviser, broker-dealer, insurance agency or federal savings bank. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM) (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Benjamin Peter Feldman, Richard A Goldman, David J Hachey, Ernest Peter Tiboris, Matthew Wunder and Seth Andrew Rivers provide investment advisory services as Advisors of Northwestern Mutual Wealth Management Company® (NMWMC), Milwaukee, WI, a subsidiary of NM and federal savings bank. Benjamin Peter Feldman, Richard A Goldman, Benjamin Peter Feldman, Richard A Goldman, David J Hachey, Ernest Peter Tiboris, Matthew Wunder, and Seth Andrew Rivers provide investment brokerage services as Registered Representatives of Northwestern Mutual Investment Services, LLC (NMIS), a subsidiary of NM, registered investment adviser, broker-dealer and member FINRA (finra.org) and SIPC (sipc.org). Benjamin Peter Feldman, Richard A Goldman, David J Hachey, Ernest Peter Tiboris, and Matthew Wunder are Insurance Agents of NM.

Northwestern Mutual Private Client Group is a select group of Northwestern Mutual advisors and representatives. Northwestern Mutual Private Client Group is not a registered investment adviser, broker-dealer, insurance agency, federal savings bank or other legal entity.

NORTHWESTERN MUTUAL AND ITS ADVISORS DO NOT PAY FOR PLACEMENT ON 3RD PARTY RATINGS OR RANKINGS, BUT MAY PAY MARKETING FEES TO THESE ORGANIZATIONS TO PROMOTE THE RATING OR RANKING. RANKINGS AND RECOGNITIONS ARE NO GUARANTEE OF FUTURE INVESTMENT SUCCESS. BARRON'S TOP 1200 FINANCIAL ADVISORS, PUBLISHED ANNUALLY IN MARCH BASED UPON DATA AS OF SEPTEMBER 30 OF THE PRIOR YEAR. 

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SOURCE Park Avenue Capital Corp.