Wealth management firms from Cumberland, Adams counties merge
Two Central Pennsylvania wealth management firms have joined forces with an eye on more regional growth.
Wormleysburg-based Stonebridge Financial Group has merged with James Kampstra and his team at Ferrara Kampstra Wealth Management in Gettysburg. The Stonebridge name remains following the merger, which took effect Thursday.
Terms of the deal were not disclosed.
"We see this merger as the first step to creating a regional corporate services presence," said Stonebridge director Jonathan Freeman. "For Stonebridge, this is the first inorganic move for growth."
Stonebridge has 13 employees; Ferrara Kampstra has six. All 19 employees will remain with the firm.
Freeman said he hopes the move will trigger additional growth for the firm as it looks to expand into Lancaster and York counties. He believes that could come through additional mergers or acquisitions.
"Our industry has changed a lot. It used to be more sales and now it is more of a professional services industry," he said. "We need to create an infrastructure for advisers entering the field."
In addition to the merger, Stonebridge also announced a new affiliation with Triad Advisors LLC in Atlanta. Triad will be broker-dealer and parent advisory firm for Stonebridge. The firm had been working with Wells Fargo Advisors.
Officials said the new affiliation with Triad will give Stonebridge more flexibility in choosing financial custodians and technology vendors to serve its clients. Accordingly, the firm has selected TD Ameritrade as the custodian for advisory accounts and Fidelity National Financial for clearing and custody for brokerage business.