WEST CHESTER, Pa., Jan. 12, 2023 /PRNewswire/ — Wealthcare Advisory Partners LLC (“Wealthcare” or the “Business”), a technological innovation-enabled whole-service RIA that supports unbiased economic advisors and a NewSpring Holdings platform business, these days announced the acquisition of Sommers Money Administration (“Sommers Financial”). This deal marks Wealthcare’s third RIA acquisition in the past 6 months and expands the Firm’s presence in the direct advisory industry.
With advisors in Scappoose, OR, and Tucson, AZ, Sommers Fiscal was founded in 2002 and advises on additional than $100 million in property less than administration (“AUM”). Next this acquisition, Wealthcare’s advisor staff includes additional than 150 prosperity management advisors throughout the country with $5 billion in AUM.
“We are thrilled to lover with Adam Sommers and the full Sommers Financial workforce. Adam has created a top-notch corporation that focuses on holistic fiscal arranging and objectives-connected investment decision options, the specific philosophy that Wealthcare has designed our full company on,” claims Matt Regan, President of Wealthcare. “We will function diligently jointly to carry on Sommers Financial’s exceptional consumer engagement and extraordinary development as they changeover into the Wealthcare network. Our integrator method to M&A development allows our group to advantage from the practical experience of our new companions when we strengthen our thorough giving for advisors. We glimpse forward to learning from the Sommers team as we strive to make Wealthcare even greater.”
Led by founder Adam Sommers, the Sommers Economical team will stay absolutely engaged with their clientele. Sommers Financial’s intention of preparing effectively and investing effectively for their shoppers will be increased by means of their access to Wealthcare’s proprietary objectives-dependent technologies system and its broader wealth management companies providing.
Sommers states, “I am thrilled to sign up for Wealthcare, a business that shares our values and presents a compelling resolution by way of their proprietary technological innovation and market-major support solutions. The Sommers group has normally excelled at servicing our clients, and this blend will deliver us an even bigger ability to emphasis on driving profitable customer results.”
“Congrats to the Sommers Economic and Wealthcare teams on this interesting acquisition,” claims Jim Ashton, General Husband or wife NewSpring Holdings. “This partnership underscores Wealthcare’s dedication to provide like-minded wealth management practices an industry-major platform that leverages a sturdy technological innovation and servicing presenting to enrich the client practical experience.”
Wealthcare architected its primary targets-centered organizing and investing methodology much more than 20 a long time back and holds 12 patents on its set up ambitions management course of action. Run by its patented Comfort Zone®, Wealthcare’s tactic options innovative, personalized encounters and stage-by-move equipment that make deeper relationships involving advisors and investors. Wealthcare empowers firms and advisors to go independent and develop their advisory firms by giving GDX360® – Wealthcare’s confirmed fiduciary course of action that seamlessly integrates organizing, investing, and investing – and a full-suite of practice-management providers. Wealthcare includes two RIAs, Wealthcare Advisory Companions LLC and Wealthcare Cash Management LLC. Study a lot more at www.wealthcaregdx.com.
About NewSpring Holdings
NewSpring’s dedicated holding firm with a system centered on handle buyouts and platform builds, provides a wealth of know-how, working experience, and methods to choose worthwhile, rising businesses to the next amount as a result of acquisitions and confirmed organic methodologies. Launched in 1999, NewSpring companions with the innovators, makers, and operators of substantial-carrying out businesses in dynamic industries to catalyze new growth and seize persuasive alternatives. The firm manages over $2.5 billion across five distinct techniques masking the spectrum from progress fairness and command buyouts to mezzanine financial debt. Partnering with administration teams to aid build their corporations into sector leaders, NewSpring identifies alternatives and builds interactions applying its community of business leaders and influencers throughout a extensive array of operational locations and industries. Check out NewSpring at www.newspringcapital.com.
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