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True North Wealth
True North Wealth operates as a multi-family office headquartered in Salt Lake City, Utah, founded by Todd L. Beman.
True North Wealth
True North Wealth operates as a multi-family office headquartered in Salt Lake City, Utah, founded by Todd L. Beman. The firm was structured to serve a concentrated group of high-net-worth families, combining traditional family-office services including estate and tax planning with direct access to private investments. Rather than functioning solely as an outsourced CIO allocating to external funds, True North originates and structures its own alternative investment opportunities, a model that aims to reduce the fee drag associated with layers of intermediaries. The firm deploys capital across a mix of private equity, private credit, and direct real estate, alongside more conventional liquid portfolio management. True North’s investment approach favors direct co-investments and proprietary deal structures, giving its families access to deal flow that is typically reserved for institutional investors. The real estate strategy has historically focused on multifamily and commercial properties in the Intermountain West and broader US growth markets. The firm’s credit arm structures bridge loans and mezzanine financing, often in partnership with regional operating partners. As a multi-family office, True North’s professional roster likely extends beyond investment staff to include in-house tax strategists, estate attorneys, and client-service professionals, though an exact headcount is not publicly disclosed. The firm is anchored by its founder’s advisory practice and has deliberately maintained a low public profile—a posture shared by many multi-family offices in the Mountain West corridor that prioritize privacy over brand-building. The firm does not publicly promote adjacent philanthropic foundations, club memberships, or separate operating companies in its limited public materials. True North’s structural differentiator lies in its role as a principal investor alongside its client families. By originating and syndicating its own private deals rather than solely feeding client capital into blind-pool funds, the firm aligns its own economics directly with investment outcomes. This internal deal-by-deal co-investment model contrasts with the predominantly fund-of-funds approach seen at many similarly sized multi-family offices.
General information
Firm type
Multi Family Office
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Salt Lake City
Corporate office
Salt Lake City, UT, United States
Principals
Todd L. Beman
Founder and Managing Director
Sector focus
Frequently asked questions
Who runs investment decisions at True North Wealth?
Todd L. Beman serves as the firm’s Founder and Managing Director, overseeing investment strategy and deal origination. While the full investment committee structure is not publicly documented, multi-family offices of this size typically centralize approval authority with the founder and a small group of senior advisors. The firm’s direct origination model suggests Beman plays a hands-on role in sourcing and structuring private transactions.
How does True North Wealth source proprietary deal flow?
True North Wealth originates deals directly rather than relying exclusively on external fund commitments, a model designed to give its families access to private equity, private credit, and real estate transactions that bypass traditional intermediaries. Based on its geography, the firm likely sources a meaningful portion of its direct real estate and credit deals through relationships with regional developers and operators in the Intermountain West. For private equity co-investments, the firm likely partners with larger sponsors seeking co-investment capital.
Does True North Wealth participate in fund commitments or only direct deals?
True North’s investment model emphasizes direct co-investments, direct real estate acquisitions, and proprietary credit structures, but a diversified multi-family-office portfolio often includes a core allocation to external fund commitments for asset classes where direct sourcing is inefficient. The firm pitches its direct origination capability as a differentiator rather than an exclusive mandate, meaning it likely blends fund commitments with its own originated deals. Specific fund commitments have not been publicly disclosed.
What investment stages does True North Wealth typically target?
The firm deploys capital across the full private capital stack: opportunistic real estate acquisitions and development, middle-market private equity co-investments, and private credit including bridge and mezzanine lending. True North does not publicly identify itself as a venture capital investor, which suggests its private equity activity concentrates on later-stage, cash-flowing businesses rather than early-stage technology companies.
How is True North Wealth different from a traditional wealth management practice?
Most wealth management practices outsource alternative-investment decisions to third-party fund managers and focus on financial planning and liquid portfolio construction. True North Wealth functions as a multi-family office that directly originates and co-invests in private deals, meaning the firm’s principals invest their own capital alongside clients and retain control over deal structuring. This hybrid model sits between a pure outsourced CIO and a fully internalized single-family office.
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