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Financial Advisory  + RIAs & Financial Advisors  | 
RIA Wealthcare Advisory Acquires Sommers Financial Management

RIA Wealthcare Advisory Acquires Sommers Financial Management

Registered investment advisor (RIA) Wealthcare Advisory Partners LLC, a NewSpring Holdings platform company, has acquired Sommers Financial Management.

This is the third RIA acquisition for the West Chester, PA-based firm that manages $5bn in assets in the past six months and expands the company’s presence in the direct advisory market.

Led by founder Adam Sommers in 2002, Sommers Financial has advisors in Scappoose, Oregon, and Tucson, Arizona, and advises about 400 clients on more than $100mn in assets.

Sommers Financial’s planning and investing strategies are expected to be enhanced through their access to Wealthcare’s proprietary goals-based technology platform and its broader wealth management services offering.

Wealthcare comprises two RIAs, Wealthcare Advisory Partners LLC and Wealthcare Capital Management LLC.

The RIA recently acquired Eagle Financial Management Services in Shreveport, LA., with $120 million in client assets, followed in the fall by Fellows Financial Group in Leesburg, VA., with $100 million in assets.

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Wealthcare Advisory PartnersNewSpring Capital

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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