RWA intends to accelerate its growth strategies with Merchant’s support. Credit: Dylan Gillis on Unsplash

Merchant, which offers growth capital to independent financial services firms, has made a minority investment in River Wealth Advisors (RWA) as part of a partnership with the firm.

An independent RIA in Central Pennsylvania and the Lehigh Valley, RWA intends to accelerate its growth strategies with Merchant’s support.

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The alliance will help RWA carry out organic and inorganic growth, build a distinctive client experience, and implement formalised career development tracks for its employees.

RWA currently has a team-based service model in place, which enables its clients to gain access to its ongoing relationship management, investment strategy, and financial planning.

At present, the firm’s assets exceed $1bn and has completed a management transition.

Its CEO Edward O’Gorman, who takes on this responsibility after an 11-year stint at the firm, and chief client officer Rebecca Stevenson McClure, who joined the firm in 2018, have assumed these expanded leadership positions.

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O’Gorman stated: “We saw an opportunity with Merchant to uphold our promise to our clients and our team members by maintaining majority ownership and day-to-day operational control at the local level.

“This strategic partnership provides growth capital and resources to galvanise the future evolution of our firm.”

Merchant managing partner Tim Bello said: “RWA has been uniquely supportive of the adviser-client relationship, working with adviser teams in central Pennsylvania and the Lehigh Valley to grow in a way that adds value well beyond the traditional wealth management offering.

“Also, a woman-owned, independent firm of its size is well-positioned to stand out as an attractive place for other advisers to bring their business.”

Last month, Merchant made a minority investment in US-based RIA Private Advisor Group, with over $30bn in assets.