Jentner Wealth Management has purchased Living Well Financial Group, a financial services firm based in Akron, Ohio for an undisclosed sum.
The acquisition will add $25 million in assets under management and 32 clients to Jentner Wealth, according to Hudson Hub-Times.
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The purchase of Living Well Financial will boost Jentner Wealth’s assets under its management to $255 million and increase its number of clients to 175.
As part of the deal, Living Well Financial’s owner Daniel Bloom will join Jentner Wealth Management as the director of financial planning, effective 1 September 2014.
In his new role, Bloom will oversee financial planning activities for clients of Jentner Wealth Management and will work closely with the firm’s other certified financial planner staff.
Additionally, Jentner will recruit three new staff to support their new clients and its expanding client portfolio.
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By GlobalDataBloom said: "The most important criterion for me was finding a fee-only firm that is held to a fiduciary standard. I know my clients will be served well by Jentner Wealth Management because they are fee-only and do not receive commissions so they always have their client’s best interest at heart."
Bruce Jentner, president of Jentner Wealth Management, said: "We are thrilled to welcome Daniel to the team and know that his commitment to personal client relationships, comprehensive financial planning and globally diversified investing will be a tangible benefit to our current and future clients."
