Alera Group Wealth Services says it has acquired Pennsylvania-based Wharton Business Group, which it says “significantly increases” its assets under management.
Founded in 1992, WBG offers investment advisory and business continuity services, including leadership succession and estate planning, portfolio evaluation, investment policy development, manager selection, security selection, continuous active management, portfolio rebalancing and investment fee analysis, according to Alera.
Alera managed $1.27 billion for 2,681 accounts as of March 21, the most recent update to its Form ADV.
WBG, meanwhile, oversees more than $3.5 billion for business owners and institutions, according to the firm.
“For more than three decades, we’ve provided clients with unbiased investment management and business succession advice,” B.J. Webster, managing director and founding partner of WBG, said in the announcement. “Now as part of Alera Group, we’ll continue providing these services, but can also offer to connect clients with a network of experts and advisors in other planning areas whose interests are aligned with theirs.”
For Alera, the addition of WBG “is part of a long-term strategic initiative to grow the assets and geographic reach of Alera Group Wealth Services both organically and through acquisition,” the company said in the announcement.
Alera Group Wealth Services is a division of Alera Group, an insurance and wealth services firm with more than $980 million in annual revenue, according to the firm.
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