United Capital Financial Advisers LLC, a Newport Beach, Calif., advisor rollup firm, has been expanding its national footprint and assets under management on the backs of numerous acquisitions. Now the firm has made a new purchase in Florida, one that's meant to expand not only its national presence, but its presence on the radio.
The company announced yesterday that it had bought Steven L. Pomeranz Financial Management in Boca Raton, a firm with approximately $200 million in assets under management. Though that is a relatively small feather in the cap of United Capital, which has $14 billion under advisement, the firm's namesake also brings with him a popular radio show broadcast in five states, "On the Money! With Steve Pomeranz."
The radio program will now include feature segments on United Capital's proprietary financial advisory approach. That includes the firm's "Honest Conversations," an interactive method of using color-coded cards to understand client passions and goals, and the Money Mind Analyzer, a Web game that helps clients understand their own money biases better.
An advertising campaign is planned in several markets before the radio show goes across the United States, which is part of United Capital's effort to create a national brand.
"Steve's radio show allows us to create an additional growth strategy for our firms around the country," says Jason Del Col, senior vice president of advisory services for United Capital."We believe this partnership represents a massive opportunity to take what Steve has built and combine it with United Capital's offering for a national program."
"Not since the mid-90s have I been this excited about my firm's growth potential and our opportunity to help investors. United Capital [reflects] what I believe to be the direction the advisory space is going," Pomeranz says.
With the acquisition, United Capital will have 38 offices nationwide and $14 billion in assets under advisement.