The PennZone

PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)--Pinnacle Advisory Group, a leading Wealth Management Firm in Columbia, MD with an office in Miami has sold to Congress Wealth Management, a Boston-based RIA. Pinnacle manages approximately $2.4 Billion in assets for 1250 families, and the combined business now has $5.8 Billion in assets, 83 employees and 7 offices nationwide.

According to Pinnacle Managing Partner Dwight Mikulis, "After a lifetime of working with clients, the partners at Pinnacle Advisory Group were looking for an investment banking firm that could navigate not only the financial aspects of selling a practice after 28 years but also work with a diverse group of shareholders. Mike Bilotta and Gladstone Associates LLC accomplished everything we were hoping for including finding a wonderful firm to take care of our clients and employees. There is no question that they can handle any transaction in the RIA space whether representing buyers or sellers. They have the experience and patience to complete a complicated process and make it seem simpler for their clients."

More on The PennZone

• WebDrafter Highlights How AI Search Is Reshaping Online Visibility
• Socialhose Eyes Southeast Asia and Rejects the Copy-Paste Expansion Playbook
• $40 Billion Global Market Value by 2030 Projected in Unmanned Aerial Vehicle or Other Drone Technology Sector, Growing at 9.2% Compound Annual Growth
• A.M. Logging Returns to Ag Progress Days for Eighth Year
• $620 Million in Recent Government Contract Awards with More Than $1.2 Billion in Annualized Revenue: Circle8 Group (N A S D A Q: CIRC)

Per Scott Dell'Orfano, Chief Strategic Officer for Congress Wealth: "Paul Lonergan (Congress' President), CI Financial and our team have been actively considering acquisition opportunities with a like-minded firm that brought great talent and a compatible culture to the table, in order to help with our strategic growth initiatives. Pinnacle Advisory Group is an excellent fit for the values and high-level client engagement that Congress has been known for since our creation, and they were well-represented by Gladstone."

Gladstone Associates LLC is a Pennsylvania corporation providing M&A- Advisory and Consulting services on a national basis to Independent Financial Advisory Firms.

---

Show All News | Disclaimer | Report Violation