US-based specialist investment bank Waller Helms Advisors (WHA), which specialises in insurance, healthcare, wealth, and financial technology, is set to acquire Park Sutton Advisors (PSA) for an undisclosed sum.

The transaction is subject to approval by FINRA.

Founded in 2008 and led by Steven Levitt, PSA is an investment bank focused on M&A advisory for the wealth and investment management space.

Last year, the firm completed 25 wealth management transactions.

WHA CEO James Anderson said that the addition of PSA would significantly enhance the firm’s capabilities in the wealth and investment management segment and form a specialist firm with 11 managing directors.

“Steve, along with Dan Erichson, CFA and John Eubanks, CFP, has built an enviable practice and we believe the combination with Waller Helms will allow the team to better serve clients in this rapidly transforming sector.  We look forward to welcoming them and all our new colleagues from Park Sutton to Waller Helms,” added Anderson.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Following the acquisition, Levitt, Erichson and Eubanks will join WHA as managing directors and partners.

The deal is expected to help WHA expand its services to a number of new companies and investors across healthcare services and fintech.

Furthermore, the combination of insurance and wealth management advisory practices of the two firms is said to reflect the ongoing consolidation trends in these industries.

This week, Wisconsin-based wealth management firm Baird bought Hefren-Tillotson, a full-service wealth management firm based in Pittsburgh.

Last week, Advisor Group struck a deal to purchase Infinex Financial Holdings, the holding company of a privately-held broker-dealer.