West Chester, Pa.-based Wealthcare Advisory Partners is expanding its West Coast footprint with the acquisition of $100 million AUM Sommers Financial.
With offices in Tuscon, Ariz. and Scappoose, Ore., Sommers Financial is led by Adam Sommers, who founded the business in 2002. The firm offers financial planning, wealth management, estate plan coordination and small business retirement plan services.
“We are thrilled to partner with Adam Sommers and the entire Sommers Financial team,” said Matt Regan, president of Wealthcare, in released comments. “Adam has built a top-notch organization that focuses on holistic financial planning and goals-linked investment solutions, the exact philosophy that Wealthcare has built our entire business upon. We will work diligently together to continue Sommers Financial’s superior client engagement and impressive growth as they transition into the Wealthcare network.”
Sommers cited Wealthcare’s proprietary technology and support services, as well as alignment of values, as reasons for the deal.
Sommers becomes Wealthcare’s third RIA acquisition in the past six months and brings total AUM over the $5 billion mark.