Merchant, River Wealth Advisors Partner to Set Stage for Next Generation of Growth
$1 Billion Central Pennsylvania RIA Completes Successful Leadership Succession
HARRISBURG, Pa.--(BUSINESS WIRE)--River Wealth Advisors (RWA), one of the largest independent registered investment advisory firms in Central Pennsylvania and the Lehigh Valley, has entered a partnership with Merchant as the firm looks to accelerate growth under newly-elevated leadership. Chief executive officer Edward O’Gorman, CFA®, who assumes this new role after 11 years at the firm, and chief client officer Rebecca Stevenson McClure, who joined the firm in 2018, have taken these expanded leadership roles along with Merchant making a minority investment to support their ambitious growth plans.
“We have seen other firms in our region give up their independence through roll-up mergers. We saw an opportunity with Merchant to uphold our promise to our clients and our team members by maintaining majority ownership and day-to-day operational control at the local level,” said O’Gorman, who also serves as chief investment officer of River Wealth Advisors. “This strategic partnership provides growth capital and resources to galvanize the future evolution of our firm.”
RWA’s partnership with Merchant, which closed in September 2021, sets the stage for the firm to build on an exceptional and distinctive client experience, implement formalized career development tracks for the firm’s team members, and pursue organic and inorganic growth.
Merchant’s deep, firsthand understanding of wealth management and its durable, long-term commitment of resources have already yielded results for RWA. Since September, RWA has surpassed $1 billion in assets and has formalized a team-based service model that offers clients access to RWA’s expertise at all levels, including investment strategy, financial planning, and ongoing relationship management.
“RWA has been uniquely supportive of the advisor-client relationship, working with advisor teams in central Pennsylvania and the Lehigh Valley to grow in a way that adds value well beyond the traditional wealth management offering. Also, a woman-owned, independent firm of its size is well-positioned to stand out as an attractive place for other advisors to bring their business. Our partnership is designed to help Ed, Becky and their team fully and truly capitalize on the future opportunity,” said Tim Bello, managing partner at Merchant.
About River Wealth Advisors
River Wealth Advisors is an independent, fee-only, SEC-registered investment advisor, offering wealth management and retirement planning for individuals, business retirement plans, along with investment management for trusts and estates. The firm harnesses the skills of highly accredited and experienced professionals to assist clients in protecting and growing their assets. For more information, visit riverwealthadvisors.com.
About Merchant Investment Management, LLC
Merchant is a private partnership providing growth capital, management resources, strategic opportunities and direction to independent financial services companies, particularly those focused on wealth and asset management. For additional information, please visit www.merchantim.com.