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March 3, 2017

Meridian Bank to buy HJ Wealth Management

Meridian Bank has agreed to acquire Pennsylvania-based HJ Wealth Management for an undisclosed sum.

By Verdict Staff

Meridian Bank has agreed to acquire Pennsylvania-based HJ Wealth Management for an undisclosed sum.

Free Report
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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

HJ Wealth Management was set up in 2000 by Jay Heller and Brian Kohute. The firm offers a proprietary financial planning system, known as the Progression of Wealth, to connect the management of wealth to meaningful personal goals.

HJ Wealth will merge into Meridian’s wealth advisory group as part of the deal, leading to the creation of Meridian Wealth Partners that will operate as a wholly-owned subsidiary of Meridian Bank.

The takeover, which is expected to be completed on 1 April 2017, will boost Meridian’s assets under management to $700m.

Meridian Bank CEO Chris Annas said: “We are excited to add the depth and experience of HJ Wealth Management. Their Progression of Wealth platform has proven very successful in helping both individuals and companies with their investment and retirement portfolios.

“This addition will help us with our mission of bringing superior financial planning and wealth management services to a broad segment of customers. We look forward to continued organic growth and possible future acquisitions.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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