West Hartford, Connecticut-based Apella Wealth announced that it added about $928 million in assets under management (AUM) through the acquisitions of Longview Financial Advisors in San Rafael, California, and Mount Pleasant, South Carolina-based RIA Morris Financial Concepts.
Longview Financial Advisors
Apella announced Wednesday that its acquisition of Longview, which closed Tuesday, added about $384 million in AUM.
Longview serves professionals, families and retirees and was led by Founder Tim Harrington, who joined Apella along with the rest of the Longview team, according to Apella.
“Tim has built a firm with a strong client-first culture and a thoughtful approach to advice,” Jim Scanlan, CEO of Apella, said in a press release. “Longview is a strong cultural and strategic fit for Apella, and we’re excited to welcome Tim and his team while continuing to grow our West Coast footprint.”
“We chose to join Apella because of the strong alignment in our investment philosophy, planning-led approach and client-first cultures,” Harrington said in the release. “This partnership allows us to expand the resources and expertise available to our clients while preserving the personal relationships, independent advice and fiduciary approach that have always defined Longview.”
The transaction represents Apella’s 29th acquisition overall and 18th with Wealth Partners Capital Group (WPCG), which invested in Apella in September 2021, Apella said.
“Tim and the Longview team’s evidence-based investment philosophy paired with holistic advice built around each client’s full financial picture aligns extremely well with Apella’s own approach,” Madison Snider, Director at WPCG, said in the release. “That shared foundation is what makes Longview such a natural fit as Apella continues to expand its presence nationally.”
Longview was represented by Jessica Polito of Turkey Hill Management for the transaction, Apella said.
Morris Financial Concepts
Apella announced Tuesday that its acquisition of Morris Financial Concepts, which closed Sept. 11, added about $544 million in AUM.
Morris Financial Concepts was founded in 1983 by Kyra Hollowell Morris and provides wealth management services to individuals and families.
Morris and her son, James “Tucker” Morris, Chief Compliance Officer, joined Apella alongside the entire Morris team, Apella said.
“Morris has built a strong reputation for thoughtful, client-centered advice,” Scanlan said. “Kyra and her team share our commitment to helping clients navigate important financial decisions with confidence. We’re pleased to welcome Morris to Apella as we continue to grow our presence in the Southeast.”
“We spent more than a year thoughtfully searching for a firm that shared our fiduciary, planning-first approach and would allow us to continue serving clients the way we have for more than four decades,” Hollowell Morris said in a press release. “With Apella, we gain the benefit of greater resources and support while maintaining our voice and the ability to contribute to the firm’s continued evolution.”
She added, “We believe this partnership brings together the strengths of both firms to create something even greater for our clients and our team.”
“Mount Pleasant is a market where deep local relationships matter, and Morris has spent four decades building them,” WPCG’s Snider said in the release. “This transaction gives Apella a meaningful foothold in coastal South Carolina with a trusted local team whose culture and philosophy closely mirror those of Apella.”
As of the closing of the Longview transaction, Apella had about $12 billion in AUM, it said.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
