The firm currently provides comprehensive financial planning, and investment and wealth management services to more than 500 families and institutions.
In 2018, Wescott was recognized by Barron’s as #3 in Pennsylvania on their Top 1200 Financial Advisors by State list, marking our fifth consecutive year in the top 3. Wescott is also #22 on Barron’s 2017 Top 100 Independent Advisors list and was the winner of Fidelity Investment’s inaugural “Be Greater” Award in 2015. We have also been named to the Forbes list of Top 100 Wealth Managers, ranked #17 on CNBC’s list of Top 100 Wealth Management Firms, #14 on Bloomberg’s Top 50 Registered Investment Advisors, and our Investment Research Group was named a Top 5 Investment Research Team by Financial Advisor magazine. We are also proud to be named a Best Place to Work by the Philadelphia and South Florida Business Journals.
The firm’s highly regarded Investment Research Group maintains a model investment portfolio that uses a unique and advantageous blending of active and passive management. In addition, Wescott’s long-time affiliation with the AMLaw Top 100 firm, Duane Morris LLP, and its network of 30 offices, affords both infrastructure and a virtual footprint for expansion around the United States.
With a diversified team of JDs, LLMs, Ph.D.s, MBAs, CFP®s and CLUs, and efficient and leveragable operational systems and infrastructure, Wescott is well poised to take advantage of growth opportunities both in current markets, regionally and in other major markets across the United States. Specific expansion efforts include:
Acquiring smaller advisory firms (under $500 million in AUM) that are limited in their ability to grow in the Philadelphia, Florida and California markets.
Wescott is interested in speaking with and potentially entering into negotiations with independent financial advisors who would like to grow their practices but who are unable or do not desire to expand because of systems, operations, investment, marketing capital or other infrastructure limitations. Ideal candidates will be entrepreneurs having less than $500 million in AUM and who are fee-only, have a compatible client base and wealth management philosophy and might see the benefit of joining a well-established organization. Acquisition considerations can include valuation/earn out of current client assets, future growth of those existing assets, a competitive base salary, commission for new client sales and business development, as well as generous benefits and profit-sharing and the potential of equity.
Team lift-outs in the Philadelphia, Florida and California markets.
Wescott is interested in speaking with and potentially acquiring the assets, personnel and resources of existing wealth management teams whose client base and wealth management philosophy are compatible with Wescott values and practices and where there is a clear and obvious benefit to all parties. Considerations will include valuation/earn-out of current client assets, future growth of those existing assets, competitive compensation for team members, commission for new client sales and business development, as well as generous benefits and profit sharing. Lift-out opportunities will be subject to due diligence and resolution around competitive restrictions.
Large firm acquisitions (national markets).
Wescott is interested in speaking with and potentially acquiring established, strategically located RIAs having $500 million to $1 billion in AUM and whose client bases and wealth management philosophies are compatible with Wescott values and practices. Ideal candidates will see an obvious benefit from merging with a well-established and growing firm that has a clear vision and value proposition as well as a desire to pursue building a national wealth management brand. We are interested in firms that would actively like to participate in growing a national brand as well as those firms whose owners may be seeking a viable and fair exit strategy.
To discuss growth opportunities with Wescott, please contact Harold Weinstein, Wescott’s Director of Organizational and Talent Development.