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June 9, 2022

Alera Group Wealth Services scoops up $3.5bn Pennsylvania wealth firm

Alera Group Wealth Services, a division of Alera Group, has acquired Pennsylvania-based employee-owned wealth services firm Wharton Business Group (WBG) for an undisclosed amount.

The deal increases Alera Group Wealth Services’ asset under management (AuM) by $3.5bn.

Established in 1992, WBG provides custom investment advisory services and business continuity services, including leadership succession and estate planning.

The firm also offers investment services, such as investment policy development, portfolio evaluation, security selection, manager selection, continuous active management, portfolio rebalancing and investment fee analysis.

Alera Group CEO Alan Levitz said: “Wharton Business Group has more than 30 years of experience serving clients and is an exciting addition to our national wealth services platform.

“The team shares our fierce commitment to collaboration, and we look forward to leveraging its expertise to bolster our existing wealth management services and national presence.”

Alera Group Wealth Services specialises in services that address the financial planning, investment and wealth management requirements of individuals and families.

The acquisition follows the firm’s long-term strategic initiative to grow its assets and expand geographic reach, both organically and through acquisition.

Commenting on the deal, Wharton Business Group founding partner and managing director BJ Webster said: “For more than three decades, we’ve provided clients with unbiased investment management and business succession advice.

“Now as part of Alera Group, we’ll continue providing these services, but can also offer to connect clients with a network of experts and advisors in other planning areas whose interests are aligned with theirs.”

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