Focus Monetary Companions introduced that its advisory agency XML Monetary Group, primarily based in Rockland, Md., has agreed to amass Samson Wealth Administration Group, an impartial advisory agency in Fort Washington, Pa.
Anticipated to shut within the third quarter of this yr, the transaction will develop XML’s presence within the Mid-Atlantic area.
Mark Samson based Samson Wealth Administration, affiliated with Wells Fargo Advisors Monetary Community, in 2012, offering wealth and funding administration companies to high-net-worth people and households nationwide. He has been named to the Forbes Finest-In-State Wealth Advisors record every year because it was first printed in 2018.
“Mark and his group take a client-first strategy to wealth administration that aligns nicely with our philosophy at XML,” stated XML CEO and co-founder Brett Bernstein. “We sit up for this deal closing in the summertime and to a few years of continued success.”
As soon as the deal is concluded, Samson will be part of the XML management group and proceed operation below the XML banner. Phrases of the merger weren’t disclosed.
In response to its most up-to-date Kind ADV submitting, XML manages greater than $2.25 billion in shopper property from places in Virginia, Maryland and Colorado. This newest acquisition will change into XML’s first Pennsylvania location.
XML Monetary Group is amongst Focus Monetary Companions’ community of 85 registered impartial advisory companies.
“That is the third transaction for XML since becoming a member of Focus,” stated Focus CEO, Chairman and founder Rudy Adolf, “one other demonstration of how we add worth to our companion companies by means of strategic M&A.”