BlueSky Wealth Advisors, a fee-only RIA that operates through its affiliate office D.L. Blain & Co. in New Bern, N.C., has acquired Pleasanton Financial Advisors.
California-based Pleasanton Financial, which continues to do business under its own name, manages approximately $126 million in assets. This brought the total assets under management for BlueSky Wealth Advisors to about $200 million after the deal closed on August 30th.
The two owners of Pleasanton Financial, Gary Smith, founder and principal owner, and Mark Janer will be retiring, but both will stay on for a period of time to help with the transition.
David L. Blain, CFA, president and chief investment officer of BlueSky Wealth Advisors engaged FP Transitions to help in the search for an opportunity to purchase another practice.
The acquisition allows BlueSky Wealth Advisors to consolidate administrative and operational functions, deploy new technology and better comply with industry regulations, the company said. All the advisors in the combined firm provide comprehensive financial planning and day-to-day client advisory needs.