Great Valley Advisor Group (GVA) has acquired Massachusetts-based full-service RIA US Financial Advisors (USFA) for an unknown sum.
Led by president and CEO John Napolitano, the acquired company offers customised investment, insurance, and wealth management services for its clients and manages $725m in assets.
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The deal expands GVA’s overall wealth and investment management capabilities in the HNW segment and bolsters its presence in the Greater Boston, Massachusetts region.
As part of the deal, the full USFA team will transfer to GVA.
Napolitano will oversee GVA’s dedicated HNW practice, which will offer family office services under the USFA brand. The HNW practice will include five additional advisors.
Commenting on the deal, Napolitano said: “Our partnership with GVA and the resources its leadership team offer will support our focus on building a dedicated HNW practice and providing the integrated and comprehensive support this specific client group needs.”
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By GlobalDataGVA CEO and managing director Ryan Todd said that USFA’s experience and expertise in serving the HNW base aligns with the company’s focus on elevating its offering and positioning it for future growth.
GVA noted that it has been strategically adding resources with the aim of helping the advisors in its network.
The company has expanded its in-house technology resources and tools for advisors in the last five years.
In 2016, the firm set up its dedicated asset management arm, Valor Asset Management.
It was supported by LPL Financial’s M&A Solutions new premium buyer programme in completing the USFA transaction, which was closed this week.
LPL senior vice-president and head of advisor financial solutions Jeremy Holly said: “The GVA team has been strategic in its development, building the right capabilities and structure to support a deal of this magnitude.
“We believe this acquisition will be a true benefit to their current and future clients.”
