Both firms, offering fee-only wealth management, are fiduciaries and share similar investment philosophies. They utilize a long-term investment approach, including broad portfolio diversification and no market timing. Parsec will retain Mimosa’s staff and Winston-Salem office and is excited to see the combined expertise of the two firms serve investors in the Triad.
“We welcome the clients and employees of Mimosa Investment Management. Parsec already has an existing footprint in the Triad region of North Carolina and this acquisition grows our presence in the area. It is our goal to keep the legacy of great advice and service that Mimosa Investment Management clients have grown to expect, as well as bring new capabilities and resources to our relationship. Above all else, both companies believe that providing financial advice as a fiduciary is of utmost importance. Putting clients’ interests first is the overriding sentiment that allows our other similarities to fall in line.” – Rick Manske, CEO of Parsec
“We are delighted at the prospect of establishing a Triad office for Parsec. Our firm shares many similarities to Parsec, however, through their size and additional resources, we will be able to provide service to our clients at a higher level than ever before. This business combination is a win for our clients.” – Chuck Patton, Managing Member of Mimosa
The purchase will be effective July 1, 2017.