# Salem Partners Wealth Management

Salem Partners Wealth Management is a Multi Family Office based in Los Angeles, United States.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Los Angeles, United States
- **Region:** North America
- **Address:** Los Angeles, CA, United States
- **Founded:** 1997
- **Assets under management:** 413 (Altss estimate)
- **Website:** http://www.salempartners.com
- **LinkedIn:** https://www.linkedin.com/company/salem-partners-wealth-management

## About

Salem Partners Wealth Management was established by Stephen Prough and John Dyett. The firm operates as a multi-family office serving high-net-worth families, entrepreneurs, and closely held businesses. The firm deploys capital across private equity, real estate, hedge funds, private credit, and fund-of-funds vehicles. Confirmed holdings include a minority stake in Clipper Media Holdings through Salem Clipper Investors and management of SW Contego, a hedge fund manager. Geographic focus centers on North America with additional activity in Hawaii through a 2015 advisory mandate. The firm lists 413 million USD in assets. It maintains offices in Los Angeles and Southlake, Texas. Stephen Prough serves on multiple boards including the CalSavers Retirement Savings Board since September 2019 and the Berti Prough Family Foundation. John Dyett holds board positions at OncoNano Medicine and Coronado Aesthetics. The firm participates in direct co-investments and SPVs alongside its advisory practice. Governance ties link principals to operating businesses and philanthropic vehicles in entertainment and education.

## Sectors

- Media & Entertainment
- Healthcare Services
- FinTech
- PropTech
- Industrial Tech

## Offices

- Southlake, TX, United States

## People

- Stephen Prough — Co-Founder
- John Dyett — Co-Founder

## Questions

### Who runs investment decisions at Salem Partners Wealth Management?

John R. Costello serves as President of Salem Partners and oversees the wealth management division alongside the investment banking practice. The firm operates under his leadership across both the advisory and asset management arms, with investment decisions guided by the internal investment committee.

### Is Salem Partners a single-family office or an investment bank?

Salem Partners is structured as a hybrid: a registered investment advisor and an SEC-registered investment bank operating under the same leadership. The wealth management arm serves multiple high-net-worth families and institutions, while the investment bank advises companies on M&A and capital raising. This makes it a multi-family wealth practice integrated with a boutique investment bank, not a single-family office.

### What types of alternative assets does Salem Partners offer its wealth clients?

Through its investment banking origination network, Salem Partners sources private credit, commercial real estate, and private equity co-investment opportunities for its wealth management clients. The firm's advisory focus on media, technology, and healthcare creates deal flow in those sectors, though allocations are portfolio-specific and not pooled into a proprietary fund.

### Which sectors does Salem Partners explicitly avoid?

Salem Partners has not publicly listed explicit avoidance criteria. However, its investment bank concentrates on media, entertainment, technology, and healthcare, and the wealth management practice's alternative sourcing reflects those sectors. Defense, heavy industrials, and commodity-driven businesses are absent from both its advisory track record and published sector focus.

### How is Salem Partners regulated?

The wealth management division operates as an SEC-registered investment advisor under the Investment Advisers Act of 1940, with Form ADV filings available through the SEC's IAPD database. The investment bank is separately registered with the SEC and FINRA as a broker-dealer, creating a dual regulatory framework uncommon among family-wealth practices.

## Related profiles

- [John G. and Marie Stella Kenedy Memorial Foundation (KMF)](https://altss.com/profile/john-g-and-marie-stella-kenedy-memorial-foundation-kmf)
- [Enerprev](https://altss.com/profile/enerprev)

---

Last updated: 2026-07-08T21:10:38.246Z

Canonical page: https://altss.com/profile/salem-partners-wealth-management-spwm

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology