Univest Corporation, a bank holding company headquartered in Souderton, Pa., has agreed to acquire Girard Partners Ltd., a registered investment advisory firm with more than $500 million in assets under management, Univest announced today.
The acquisition, anticipated to close in January, will increase Univest’s assets under management to $3 billion and further strengthen its advisory capabilities, according to the firm. Terms of the deal were not released.
Girard Partners, a fee-only RIA, will continue to operate with its present management structure from its main office in King of Prussia, Pa., and satellite offices in Richmond, Va., and Fort Myers, Fla. Richard B. Seidel is chairman and Kevin B. Norris is president and chief investment officer.
Univest Corporation of Pennsylvania (Nasdaq:UVSP) is the parent company of Univest Bank and Trust Co., which has insurance, investments and equipment financing subsidiaries. The company was founded in 1876 and serves several counties in eastern Pennsylvania.