Acquisition-hungry Newport Beach wealth manager United Capital is at it again, this time buying a Philadelphia financial planning shop and its $170 million in AUM.
Buying Vantage Point Advisors gives United Capital better reach into Philadelphia society as well as local institutional circles -- and plenty of planning-oriented expertise.
If anything, the incremental AUM add seems almost trivial when you consider that United Capital has already grown to become a $13 billion national behemoth in its 5-year lifespan.
This, in turn, highlights the firm's M&A strategy: buy synergistic fits, not just brute scale. It will be interesting to see just how well the newly renamed "United Capital Private Wealth Counseling" integrates into the larger picture -- and how well it can project its new identity into the Philadelphia market.