Steven M. MacNamara has been named chief investment officer of Wescott Financial Advisory Group, a wealth management firm with more than $2.3 billion in assets under management based in Philadelphia, Wescott announced Wednesday.

He will succeed Lydia Sheckels, who will remain as a partner, senior investment strategist and senior financial advisor.

MacNamara will transition into his new role over the next several months as part of Wescott’s succession planning. He most recently served as CEO and CIO of Horizons West Capital Partners LLC, a boutique investment advisor and asset manager based in Sandy Hook, Conn.