Financial Services Acquisitions in Pennsylvania

Bluespring Wealth Partners has partnered with Pittsburgh-based Coghill Investment Strategies, bringing the advisory firm and its approximately $600 million in AUM into Bluespring's network of partner firms. The move supports succession planning and platform expansion by integrating Coghill's experienced advisory team into Bluespring's community and operational resources.

The Baldwin Group (NASDAQ: BWIN) has completed its acquisition of Capstone Group, a Philadelphia‑area multi-line independent insurance brokerage. The deal expands Baldwin's regional footprint in the Philadelphia market and gives Capstone access to Baldwin's broader resources and scalable infrastructure while preserving Capstone's high‑touch service model.

Creative Planning has acquired Marshall Financial Group, a Doylestown, Pennsylvania-based registered investment advisor, adding more than $900 million in assets under management and 19 employees. The deal expands Creative Planning's Mid-Atlantic presence and gives Marshall Financial access to Creative Planning's nationwide planning, tax, trust, retirement, and family office capabilities.

Bluespring Wealth Partners has acquired Pittsburgh-based Signature Wealth, an RIA overseeing approximately $1.41 billion in client assets. The deal advances Bluespring's national expansion while providing Signature Wealth with scale, back-office capabilities, and continuity planning.

Carson Group (CWM, LLC) announced it has fully acquired the Carson Wealth location in Pittsburgh, Pennsylvania, led by Neal McGrath, which manages about $358 million in AUM. The move consolidates a long-standing partnership and integrates the Pittsburgh office more tightly into Carson's national platform to support future growth and deeper client service.

Cantilever Group has made a minority equity investment in Tecum Capital to support Tecum's expansion and strategic growth initiatives within the SBIC and lower-middle-market private credit space. Tecum's existing management will remain in place as the firm leverages Cantilever's capital and resources to build its leadership position and invest in team and platform growth.

CW Advisors, an SEC‑registered investment advisor and subsidiary of Osaic, has acquired two Pennsylvania RIAs — Capital Management Services (CMS) and CHB Investment Group — adding $575 million in assets under management. The deals expand CW Advisors’ presence in Pennsylvania and increase its AUM to approximately $14.5 billion; terms were not disclosed.

EdgeCo Holdings LP has completed the acquisition of Axios Advisory Group, Ltd., integrating Axios's American Pension Benefit retirement plan administration and Axios Wealth Management advisory services into its AmericanTCS business unit. The deal expands AmericanTCS's administration, recordkeeping and wealth capabilities as part of EdgeCo's ongoing roll-up strategy in the small- and mid-sized retirement plan market.

Northwest Bancshares, Inc. completed its merger with Penns Woods Bancorp, Inc., effective July 25, 2025, folding Penns Woods and its subsidiary banks into Northwest and Northwest Bank. The deal adds 21 branch locations across north-central and northeastern Pennsylvania and expands Northwest's retail footprint to 151 financial centers; Penns Woods CEO Richard A. Grafmyre was appointed to Northwest's board.

PACT Capital Partners completed a passive, non-voting minority balance-sheet investment in Graham Partners to provide long-term capital and enable broader team ownership participation. The investment will fund Graham’s organizational initiatives, including formation of Centers of Excellence and an internal Management Committee, while Graham’s day-to-day operations remain unchanged.

IQSTEL Inc. (NASDAQ: IQST) has acquired a 51% stake in GlobeTopper, a B2B fintech specialist in digital prepaid/top-up and gift-card solutions, with the transaction effective July 1, 2025. The deal is intended to accelerate IQSTEL’s fintech capability and revenue run rate—GlobeTopper forecasts significant H2 2025 revenue contribution and will remain led by CEO Craig Span under IQSTEL’s ownership.

Alera Group has acquired West Chester-based Trinity Advisors Group, a retirement plan consulting firm, in an asset purchase to expand Alera's Mid-Atlantic retirement plan capabilities. TAG will operate within The Ascent Group, an Alera company; terms were not disclosed.

Mid Penn Bancorp, Inc. completed its all-stock acquisition of William Penn Bancorporation on April 30, 2025 in a transaction valued at approximately $120 million. The merger combines William Penn Bank into Mid Penn Bank, expands Mid Penn’s footprint into the Greater Philadelphia and Southern New Jersey regions, and results in consolidated assets of about $6.3 billion; William Penn’s CEO Kenneth J. Stephon joins Mid Penn’s board and senior leadership.

Pittsburgh-based Honeycomb Credit has acquired IFundWomen (IFW), integrating IFW's rewards crowdfunding, grant programs, and coaching into Honeycomb's community capital platform. IFW's team will join Honeycomb immediately, with founder Karen Cahn joining as a board member and principal advisor to help expand the combined offering for small and early-stage businesses.

Bain Capital will acquire a 9.9% equity stake in Lincoln National Corporation (Lincoln Financial) for $825 million via the purchase of approximately 18.8 million shares at $44.00 per share. The transaction establishes a 10-year strategic asset management relationship—with Bain serving as an investment manager across multiple private asset classes—and provides Lincoln with growth capital to advance its portfolio management and strategic priorities; closing is expected in the second half of 2025 subject to customary conditions.

Acrisure has acquired Pittsburgh-based actuarial firm Mockenhaupt Benefits Group and Philadelphia-area NewBridge Partners to strengthen its pension and employee benefits servicing in Pennsylvania. The deals expand Acrisure’s actuarial and union/large-group benefits capabilities across the state and position the firm to better serve municipal and union-sponsored retirement and benefits plans.

Waverly Advisors has acquired Planning Capital Management Corp., an investment advisory firm headquartered in Paoli, Pennsylvania, expanding Waverly's presence into the greater Philadelphia area. The deal, which closed on December 13, 2024, increases Waverly's AUM to approximately $15.9 billion and brings the entire Planning Capital team into Waverly.

Merit Financial Advisors announced that Trinity Financial Partners has merged into Merit, adding approximately $603 million in assets and establishing Merit's third office in Pennsylvania. Robyn E. Jameson will join Merit as Managing Director, Partner and Wealth Manager; financial terms were not disclosed.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Kades & Cheifetz LLC, a Pennsylvania-based registered investment adviser that manages approximately $440 million in client assets and serves affluent families in the Philadelphia "Main Line" area with additional coverage in Florida. The small, partner-led RIA will join Mercer's national platform to expand the firm's presence in Pennsylvania and Florida; financial terms were not disclosed.

AmeriServ Financial, Inc. completed the merger of its subsidiary AmeriServ Trust and Financial Services Company into its subsidiary bank, AmeriServ Financial Bank, effective October 1, 2024. The former trust company will operate as a division called AmeriServ Wealth & Capital Management, with all staff retained and David Finui named president of the new wealth division to drive operational efficiencies and broaden client access to bank services.

Wealth Enhancement Group, a national independent wealth management firm, has acquired Levy Wealth Management Group, LLC, a Philadelphia-based hybrid RIA that oversees more than $1.3 billion in client assets. The Levy team will operate as the Levy‑Clatterbuck‑Robostello Team at Wealth Enhancement Group, expanding WEG's presence in Pennsylvania and increasing its total client assets to over $90.5 billion.

The Bank of New York Mellon Corporation (BNY) entered into a definitive agreement on September 5, 2024 and closed its acquisition of Archer Holdco, LLC (Archer) on November 1, 2024. Archer is a technology-enabled provider of managed account middle- and back-office solutions for asset and wealth managers; the acquisition expands BNY’s managed-account manufacturing, distribution and servicing capabilities across retail, private wealth and institutional channels. Financial terms were not disclosed; BNY and Archer were advised by BofA Securities / Sullivan & Cromwell and Raymond James / DLA Piper, respectively, and private equity investor LLR Partners (an Archer investor since 2021) was referenced in the announcement.

Hub International Limited has acquired the assets of Flexible Benefits Plans, Inc., a Valley Forge, Pennsylvania-based employee benefits and general agency services firm. The acquisition will integrate FBP's team into Hub Greater Philadelphia to expand Hub's employee benefits capabilities and footprint in the Philadelphia market; terms were not disclosed.

Bluespring Wealth Partners, an acquirer of independent RIAs and hybrid wealth management firms, has acquired Rodgers & Associates Wealth Advisers, a Lancaster, Pennsylvania-based wealth management firm overseeing approximately $1.35 billion in client assets. Rodgers & Associates (about 25 employees) joins Bluespring to accelerate growth, technology adoption and succession planning while retaining its client-focused retirement planning practice.

Union Bay Acquisition LLC has acquired the commercial insurance business of Brookside Insurance, an Allentown, Pennsylvania-based insurance agency. The terms were not disclosed; Union Bay said this is its fourteenth acquisition as it continues to consolidate regional property-casualty agencies to expand its platform and capabilities.

Peoples Financial Services Corp. (PFIS) completed the merger with FNCB Bancorp, Inc., effective July 1, 2024, and merged FNCB Bank into Peoples Security Bank and Trust Company (PSBT). PFIS executives rang the Nasdaq closing bell on July 30, 2024 to commemorate the combination, which PFIS says will expand its market presence and strengthen service capabilities across its community banking footprint.

ACNB Corporation (NASDAQ: ACNB) has agreed to acquire Traditions Bancorp, Inc., the holding company for Traditions Bank, in an all-stock transaction valued at approximately $73.5 million. The deal, expected to close in Q1 2025 pending approvals, expands ACNB's community banking footprint in York and Lancaster counties and creates a combined pro forma company with about $3.3 billion in assets.

Bain Capital, with participation from Reverence Capital and Norwest, agreed to acquire Envestnet for $63.15 per share in a transaction valuing the company at approximately $4.5 billion. Strategic partners BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors committed to minority investments in the private company; the deal is intended to support Envestnet's growth and further investment in its wealth management platform.

Fulton Financial Corporation’s bank subsidiary, Fulton Bank, N.A., has acquired substantially all of the assets and assumed substantially all of the deposits of Republic First Bank (d/b/a Republic Bank) from the Federal Deposit Insurance Corporation. The FDIC-assisted transaction adds approximately $6.0 billion of assets and roughly $4.0 billion of deposits to Fulton and significantly expands Fulton’s presence in the Philadelphia market.

Union Bay Acquisition LLC, an aggregator of property-casualty insurance agencies based in Lansdale, Pennsylvania, has acquired Cornerstone Insurance Services of Elkins Park, Pennsylvania. The acquisition will augment Union Bay's portfolio and expand its expertise and presence servicing clients in New Jersey and Pennsylvania; terms were not disclosed.

JA Mitsui Leasing, Ltd., through its subsidiary JA Mitsui Leasing USA Holdings, Inc., has acquired 100% of Oakmont Capital Holdings, LLC (dba Oakmont Capital Services), a specialty commercial equipment finance lender based in West Chester, Pennsylvania. The acquisition strengthens JAML's North American capabilities by adding Oakmont's small-ticket equipment finance platform, experienced team and technology-enabled lending capability.

Lee Equity Partners has acquired a majority interest in PCS Retirement, a Philadelphia-based retirement plan recordkeeper; as part of the transaction, prior investor LLR Partners will exit and Scott David will join PCS as CEO. The investment is intended to accelerate new business sales, expand relationships, enhance digital and service capabilities, and support PCS's M&A strategy; terms were not disclosed.

An affiliate of Cerberus Capital Management has completed the acquisition of Spring EQ, a U.S. home equity lender. Spring EQ will join Cerberus' Residential Opportunities platform and continue to be led by founder and CEO Jerry Schiano, with Cerberus supporting technology investment, commercial growth, and operational initiatives.

Cadex Solutions, a portfolio company of Trivest Partners, has acquired DAL, Inc., a Philadelphia-based commercial accounts receivable management and legal recovery firm founded in 1974. DAL will operate as a standalone brand within the Cadex family with Donna Daniels named President as founder Dominick Longhi retires; the deal expands Cadex’s order-to-cash and commercial collections capabilities across domestic and international markets.

Class Valuation, a national appraisal management company headquartered in Troy, Michigan, has acquired Valuation Connect, an appraisal management subsidiary of Mortgage Connect LP. The acquisition (a divestiture by Mortgage Connect) is intended to strengthen Class Valuation's appraisal capabilities, expand its retail presence, and accelerate development of appraisal technology and modernization products.

Creative Planning, a leading independent RIA based in Overland Park, Kansas, has acquired Kistler-Tiffany Advisors, an independent fiduciary specializing in wealth management, estate planning and business succession for high-net-worth families. The acquisition expands Creative Planning’s advisory capabilities and client service offerings by integrating Kistler-Tiffany’s experienced team and specialized expertise.

WEX (NYSE: WEX) agreed to acquire the health and benefits unit of Ascensus for $180 million, according to an SEC filing; the transaction is expected to close this year. The purchase expands WEX’s benefits administration and ACA compliance capabilities as the company grows its Benefits segment.

Warburg Pincus has made a significant growth investment in Pareto Health, joining existing investor Great Hill Partners (which will retain an equal stake) alongside a continuing investment from the company's management team. The capital will be used to accelerate ParetoHealth's growth and expand its employee-benefits platform that helps small and midsized employers self-insure and manage healthcare costs.

Savant Wealth Management has acquired Domani Wealth, a Lancaster, Pennsylvania-based RIA with $1.53 billion in AUM and 23 employees. The deal expands Savant's footprint in the Mid-Atlantic to 32 offices across 11 states and raises its combined AUM to $19.5 billion.

EP Wealth Advisors, a Torrance, California–based independent RIA backed by Berkshire Partners, has acquired Media, Pennsylvania–based Lehman & DeRafelo Financial Resources, LLC. The deal adds four advisors and two support staff to EP Wealth, expands its Philadelphia-region presence and is expected to add more than $1 billion to EP Wealth's AUM, strengthening its East Coast footprint and alternative-investment capabilities.

Mercer Global Advisors, Inc. (Mercer Advisors) acquired Andesa Financial Management, Inc., a wealth management firm based in Allentown, Pennsylvania. The deal expands Mercer Advisors' presence in Pennsylvania and the Eastern U.S., adding Andesa's team, approximately $330 million AUM and 260 clients to Mercer's national RIA platform.

Comvest Credit Partners acted as administrative agent on a $30 million senior secured credit facility to The JG Wentworth Company to fund a strategic acquisition and provide capital for growth. The financing supports JG Wentworth’s expansion of its consumer financial services offerings, including structured-settlement purchasing, debt resolution, and an upcoming online lending platform.

Carnegie Investment Counsel has acquired RiverStone Wealth Management, an independent wealth advisory firm headquartered in Wexford, Pennsylvania. RiverStone, founded in 2008 with about $230 million in assets under management, will join Carnegie to expand Carnegie’s client footprint and AUM.

LTC Global, Inc. has acquired Pittsburgh Brokerage Services, Inc. (PBS), a Capitas Financial partner headquartered in Pittsburgh. PBS Founder Thomas Hall will continue to manage the business as PBS is integrated with other Capitas partner agencies to expand distribution and share resources across LTC Global's agency network.

Civista Bancshares, Inc. (NASDAQ: CIVB) signed a definitive agreement to acquire all outstanding shares of Pittsburgh-based Vision Financial Group, Inc., a privately held equipment leasing and finance company founded in 1991. Vision Financial Group will become a subsidiary of Civista Bank and continue operating under its name, with management and employees remaining in place; the deal consideration includes cash, Civista common stock and potential earn-out stock payments.

LPL Financial has entered into a definitive purchase agreement to acquire the Private Client Group business of Boenning & Scattergood, a 108-year-old family-owned broker/dealer and RIA based in West Conshohocken, Pennsylvania. The asset purchase will onboard approximately 40 advisors and about $5 billion of advisory and brokerage assets onto LPL's employee advisor model, and is expected to close in early 2023 subject to regulatory approvals.

HUB International Limited acquired the assets of Heritage Wealth Management Group, LLC, a Moon Township, Pennsylvania-based independent financial advisory firm. Terms were not disclosed; Heritage serves about 300 clients with more than $205 million in assets under management and Michael Finnell and his team will join Hub's Retirement and Private Wealth business to bolster its retirement and wealth advisory capabilities in Western Pennsylvania.

Alera Group Wealth Services, a division of Alera Group, has acquired Wharton Business Group, an employee-owned Pennsylvania wealth services firm that manages more than $3.5 billion in assets. The deal expands Alera's wealth management AUM and Pennsylvania presence; financial and legal advisors to Wharton Business Group were DeVoe & Company and Alston & Bird, respectively. Terms were not disclosed.

Fulton Financial Corporation completed its acquisition of Prudential Bancorp, Inc., merging Prudential into Fulton in a stock-and-cash transaction and pledging $2.0 million to community causes in Philadelphia. The deal, which received required regulatory approvals, will ultimately merge Prudential Bank into Fulton Bank and expands Fulton’s presence in the Philadelphia market; Prudential shareholders received 0.7974 shares of Fulton plus $3.65 in cash per Prudential share.

EdgeCo Holdings LP has acquired VMS Hub, the NSCC trading workflow automation solution, from Financeware (a NewSpring Holdings platform company). The acquisition transfers the VMS Hub team to EdgeCo and expands EdgeCo's Trust and Retirement Services technology offerings to better serve recordkeepers, custodians and retirement plans.