Newport Beach, Calif.-based United Capital has announced the acquisition of HFI Wealth Management, a Shenandoah Valley-area advisory firm.
With offices in Shepherdstown, W.Va., and Winchester, Va., HFI represents United Capital’s first expansion into West Virginia. HFI works with more than 380 client households, managing more than $332 million in client assets.
HFI CEO and principal Rob Hoxton will become a managing director at United Capital, along with his colleague Julia Connell. Eight additional HFI staff will join United Capital.
“Over the years, we’ve seen and experienced significant changes to the financial planning industry, and we know there’s more to come on the horizon,” Hoxton said in a statement. “Not only does United Capital provide a way to address the technological and regulatory changes that our industry is about to experience, but the firm allows us to better our practice through aligning with a group of like-minded advisors.”
Hoxton founded HFI in 2002 after 16 years in the insurance industry, growing the firm through the establishment of the Rural Financial Planning Project, an education and training initiative within the firm.
United Capital now has $15 billion in assets under management and 82 offices nationwide.