Advisory M&A News – 1/27/25

NFP Acquires Tycor Benefit Administrators Expands Presence in the Philadelphia Area 

NFP acquired of Tycor Benefit Administrators, Inc., a multidisciplinary professional services firm based in Wayne, Pennsylvania. Founded in 1980, Tycor manages and advises approximately $500 million in assets. 

The firm works with clients in Philadelphia and the tri-state area, focusing primarily on providing third-party administration recordkeeping and retirement services while also offering employee benefits, wealth management services, financial planning and individual insurance products. 

The principals of Tycor, Lauren Stuart and J. Timothy Corle, will join NFP as senior vice presidents and report to Jessica Espinoza, managing director of Retirement in NFP’s Atlantic region. 

“I’m excited to welcome Lauren, Tim and the Tycor team to NFP,” Espinoza said, in a statement. “This acquisition is a great opportunity to grow our presence in the greater Philadelphia market and round out our capabilities. We’re especially looking forward to expanding our ability to scale our retirement plan advisory and third-party administration services nationally with Tycor’s offerings.” 

Wealth Enhancement Announces Acquisition of VanceGray Wealth Management and Northwest Investment Counselors  

Wealth Enhancement has announced the acquisition of two independent RIA firms: VanceGray Wealth Management, Inc., in Bangor and Ellsworth, Maine and of Northwest Investment Counselors, in Lake Oswego, Oregon.  

VanceGray is a team of four advisers and six support staff oversees more than $409 million in client assets and is led by Vance Gray, president. Northwest Investment Counselors, led by Mark Scarlett, principal, portfolio manager, Matthew Roehr, principal, portfolio manager, and Michelle Castano Garcia, principal, wealth manager, is team of five advisers and three support staff overseeing more than $673 million in client assets. 

Founded in 2006, VanceGray Wealth Management offers investment and asset management, retirement planning, customized tax strategies, and comprehensive estate planning. VanceGray Wealth Management specializes in working with retirees, seniors, small business owners, and individuals with a desire to grow their financial future. 

Founded in 1998, Northwest Investment Counselors operates under the principle ‘Live well, retire better.’ The firm supports clients from initial investing and navigating finances after major life changes to retirement and estate planning. Specializing in investment management, trust services, and financial planning, Northwest Investment Counselors primarily serves clients based in Oregon and Washington. 

Citizens Deepens Investment in Florida with Addition of $700 Million Advisory Team 

Citizens Financial Group, Inc. further expanded its wealth management reach in southern Florida. 

Citizens Private Wealth added a team of wealth advisers led by Dustin Smith and James Rubinton, who bring more than six decades of combined experience to the firm.  

Based in Naples, these senior advisers specialize in customized wealth management solutions for high-net-worth and ultra-high-net-worth individuals, families and businesses, having previously managed nearly $700 million in client assets. This Naples-based team follows the addition of a wealth advisory team based in Boca Raton, Fla. in the fall. 

“Dustin and James’ dedication to their clients and shared vision for providing outstanding wealth management solutions make them an excellent addition to our organization,” Paul Casey, head of Wealth at Citizens, said in a statement.