BakerAvenue Wealth Management (“BakerAvenue”), a national firm with $6.3 billion in assets under management1 offering Integrated Wealth Management and specialized concentrated stock management, today announced that it has closed on a strategic minority investment from Constellation Wealth Capital (“CWC”), an alternative asset management firm dedicated to investing in scaled, independent registered investment advisers (RIAs).

The partnership provides BakerAvenue with additional long-term capital to support its next phase of growth. Building on its integrated wealth management model, the firm plans to expand its integrated tax preparation and estate planning services and its corporate trustee services2, while pursuing opportunities in new markets, advisor recruitment and the development of additional organic growth channels.

BakerAvenue will continue to be majority-owned and controlled by its existing leadership team and will stay grounded in the values that have guided the firm since its founding: a commitment to delivering a high-quality client experience, investing in its people and culture, and evolving its capabilities to meet the changing needs of its clients.

“We founded BakerAvenue 22 years ago with a firm belief that people, community, and culture should be at the heart of everything we do. With CWC, we found a partner who shares those values and our vision for the future. We’re excited about what we can accomplish together as we look to broaden and deepen the impact we make for the families and clients we serve,” said Simon Baker, Founder & Executive Chairman.

BakerAvenue has built its reputation on a differentiated approach to wealth management and a history of strong organic growth, achieving a 23% compound annual growth rate in organic AUM from 2021 through 2025.3 The firm’s integrated model brings together in-house tax preparation and estate planning with investment management, allowing advisors to deliver coordinated, tax-aware guidance across a client’s full financial picture.

“This marks an exciting new chapter for BakerAvenue,” said Tom Ngo, CEO & Partner of BakerAvenue. “We were intentional in finding a partner aligned with our long-term vision. We believe CWC’s deep understanding of the wealth management industry, collaborative approach, and experience supporting the growth of independent wealth management firms will help us deepen what we do best and expand the infrastructure behind our operating model. Clients will continue working with the same team and philosophy, now supported by additional resources.”

“BakerAvenue has built a distinctive business, combining an integrated approach to wealth management with a strong culture and a deep commitment to its clients,” said Karl Heckenberg, President and Managing Partner of Constellation Wealth Capital. “Our partnership reflects a shared vision for the future and a commitment to long-term growth. We look forward to working alongside Simon, Tom and the entire BakerAvenue team as they continue to build on their success and pursue the next chapter for the firm.”

“BakerAvenue’s strong organic growth, integrated wealth management model, and compelling investment program provide a solid foundation for its next phase,” said Pat McHugh, Partner and Head of Investments at Constellation Wealth Capital. “We see significant opportunities to build on that foundation — our focus is on providing the long-term capital and strategic resources to help the team continue to execute on their strategic priorities. We’re excited about what we can accomplish together while supporting the independence and entrepreneurial approach that have contributed to BakerAvenue’s success.”

Colchester Partners LLC served as financial advisor to BakerAvenue, with Alston & Bird LLP serving as legal counsel. Gibson Dunn served as legal counsel to Constellation Wealth Capital.

About BakerAvenue

Since 2004, BakerAvenue has guided clients through personal and professional transitions, providing comprehensive wealth management and investment expertise for high-net-worth individuals, families, trusts, foundations, and endowments. The firm also offers specialized concentrated stock management and provides corporate trustee services through BakerAvenue Trust Company. For more information, visit www.bakerave.com.

About Constellation Wealth Capital

Constellation Wealth Capital (CWC) is an alternative asset management platform dedicated exclusively to the wealth management industry. CWC provides flexible, long-term capital solutions and strategic advisory support to scaled, high-performing wealth management firms, drawing on deep industry experience and relationships to support its partner firms. Learn more at www.constellationwealthcapital.com or contact us at info@constellationwealthcapital.com.

1 Assets under management figures are as of September 30, 2026, and include discretionary and non-discretionary assets as defined in the firm’s Form ADV. Registration as an investment adviser does not imply a certain level of skill or training. Past growth is not indicative of future results. Statements in this release regarding future plans, growth, or strategy are forward-looking, are not guarantees of future performance, and are subject to change. For additional information about BakerAvenue, including its services and fees, please refer to Form ADV Part 2A and Form CRS, available at www.adviserinfo.sec.gov.

2 Baker Avenue Asset Management LP is a Trust Representative Office of National Advisors Trust Company (NATC) and National Advisors Trust of South Dakota Inc. (NATSD) doing business as BakerAvenue Trust Company.

3 23% compound annual growth rate (CAGR) in organic AUM, 2021–2025.

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