Syntrinsic joins forces with IMA

IMA Financial Group , a North American insurance brokerage firm specializing in risk management, insurance, wholesale brokerage and wealth management, will add purpose-driven investing to its value-added services through a strategic partnership with Denver-based Syntrinsic , an investment firm for foundations, endowments and nonprofits and the people affiliated with them. The deal is effective July 1, 2023.

Taking the name Syntrinsic, an IMA Company, the investment firm will retain its local identity, leadership and associates. In late 2023, Syntrinsic will relocate to IMA’s headquarters in Denver’s Union Station. Its team of experienced professionals will have the opportunity to become employee owners and be personally involved in the growth and success of IMA Financial Group.

“With Syntrinsic as a partner, we can offer more to our diverse client base and further our mission to protect assets and make a difference in the community,” said IMA Chairman and CEO Rob Cohen. “Together we can build a better tomorrow for inspirational and dynamic clients by combining Syntrinsic’s investment proficiencies with IMA’s risk management expertise and shared resources.”

Foundations, nonprofits and endowments comprise 90% of Syntrinsic’s $2.4B assets under advisement. By focusing on charitable organizations, its knowledgeable team serves as impactful strategic partners, providing solutions beyond basic investment strategies, such as donor engagement, next-generation education and mission-aligned investing.

“We have always admired IMA’s dedication to nonprofit organizations and creating positive change in the community,” said Syntrinsic Co-President, Ben Valore-Caplan.

“Community betterment is our shared DNA,” continued Syntrinsic Co-President and Head of Impact Investing Akasha Absher. “Together, we can help more organizations align their investment strategy with their mission and values in a highly personalized manner.”

The Syntrinsic team will work with its IMA colleagues to capture best practices, realize efficiencies and tap into IMA’s robust shared resources to enhance services to public and nonprofit clients and their growing risk profiles. The company’s deep connections with Colorado-based and national nonprofits will strengthen IMA’s ties to the community and IMA’s proven, values-driven growth strategy will advance Syntrinsic’s success. Echelon Partners served as the exclusive M&A advisor to Syntrinsic in the transaction.