Payne Wealth Partners, a wealth management firm in Evansville, Ind., has been acquired by United Capital Financial Advisors LLC, United Capital announced Thursday.
Payne Wealth Partners brings $530 million in AUM and 13 employees to United Capital. The firm serves approximately 300 households. Terms of the acquisition were not announced.
Taylor Payne, president of Payne Wealth Partners, will join United Capital as a managing director. Ann Pendley and Perry Moore, also co-owners at Payne Wealth Partners, will join United Capital. Payne founded the firm in 1989 as a fee-only investment management firm, which evolved into a full service planning firm.
During 2017, United Capital grew its assets under management to more than $20 billion, partially through the addition of firms managing a total of $8.18 billon.