RTD Financial Advisors Inc., a Philadelphia-based financial services firm, has acquired Pinnacle Financial Advisors LLC of Marlton, N.J., RTD announced Thursday.
After the merger, RTD will have $1.2 billion in assets under management. Both firms are well-known for embracing a holistic approach to financial life planning.
The deal is part of RTD’s continuing expansion plans and gives it a presence in a strategic area of New Jersey, says Richard J. Busillo, chairman and CEO of RTD. Afterward, the firm will have 34 employees in offices in Pennsylvania, New Jersey, Georgia and Florida.
“The acquisition adds greater strength for us in tax preparation and business succession areas. We always have an eye out for firms that are a good fit, and Pinnacle has the same core values and culture that we have, and geographically we did not have an office in that area,” Busillo says.
Pinnacle is an independent, fee-only financial planning firm founded in 1991 by Harry Scheyer and Jeff Metz, who will remain with the new firm. Pinnacle will operate under the RTD brand. The terms of the acquisition were not made public.
RTD was founded by financial life planning pioneer Roy Diliberto more than 30 years ago. Diliberto, who has been a contributor to Financial Advisor for much of the past decade, no longer runs the firm but remains involved.