Bessemer Venture Partners and Grail Partners, who invested in UCFP’s prior rounds of equity financing, are also investing in this transaction.

The firm said it will invest the new capital in marketing and branding, including the development of new lead generation and service models, while continuing to recruit advisors and making “targeted acquisitions” to expand its geographic footprint. A portion of the funding will also provide liquidity to existing advisor partners, it added.

Established in 2005, United Capital has 47 offices in the US; the firm has $9 billion in assets under management and an additional $9 billion under advisement through its pension consulting affiliate.

In other recent news, earlier this month UCFA acquired a Scottsdale, AZ-based wealth management firm called Brotherton Investment Consultants, in a move adding some $150 million in assets under advisement.