Canton, Ohio-based RIA to acquire $240 million crosstown firm

Canton, Ohio-based RIA to acquire $240 million crosstown firm
Combined RIA firm will have nearly $1 billion in discretionary assets.
AUG 21, 2019
By  Bloomberg

Beese Fulmer Private Wealth Management, a Canton, Ohio-based registered investment adviser managing about $675 million in discretionary assets, will acquire MacNealy Hoover Investment Management, an RIA also based in Canton and managing about $240 million, in October. [More:Calif.-based RIA acquires firm managing $250 million] The move will make Beese Fulmer one of the largest money managers in Northeast Ohio based on assets under management, the firm said in a release. Both firms use Schwab as their principal custodian, said Ryan Fulmer, CEO. "We explored multiple transition possibilities," said Harry MacNealy, CEO of MacNealy Hoover. "Sometimes, it just takes a while to recognize the solution is right under your nose. In our case, just four blocks south." [Recommended video: Schwab's Jeff Kleintop: Prep for volatility given China trade uncertainties] ​

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound