The firm currently provides comprehensive financial planning, and investment and wealth management services to more than 500 families and institutions.
In 2024, Wescott was recognized as one of the Top 10 Advisors in Pennsylvania on Barron’s Top 1200 Financial Advisors by State list (Awarded March 2024 – No fee was paid for participation in the rankings, however Wescott pays a fee to receive expanded profile features on the ranking website.), marking our tenth consecutive year in the top 10. Forbes named Wescott a Top 3 Private Wealth Advisor in Pennsylvania on their 2024 Best in State Wealth Advisor ranking (Awarded April 2024 – No fee was paid for participation in the rankings, however Wescott pays a fee to receive expanded profile features on the ranking website.). In addition, Wescott is included in Forbes’ 2023 Top 100 RIA Firms (Awarded October 2023 – No fee was paid for participation in the rankings, however Wescott pays a fee to receive expanded profile features on the ranking website.), in the Top 20 of Barron’s 2023 Top 100 Independent Advisors list (Awarded September 2023 – No fee was paid for participation in the rankings, however Wescott pays a fee to receive expanded profile features on the ranking website.) and is a Barron’s 2019 Hall of Fame inductee (Awarded September 2019 – No fee was paid for participation in the rankings, however Wescott pays a fee to receive expanded profile features on the ranking website.). The firm is also proud to be a Certified B Corporation®(Certification received May 2020. B Corp Certification is a designation that a business is meeting high standards of verified performance, accountability, and transparency on factors from employee benefits and charitable giving to supply chain practices and input materials. Wescott pays a fee and submits an Impact Assessment to qualify for and maintain this certification.).
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, a Ph.D., MBAs, CFP®s and CLUs, and efficient and leverageable 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.
Learn more about what our firm is looking for and our plans for the future in the recent Barron’s feature, Grant Rawdin: $3.5 Billion RIA Patiently Weighs Its Options.
To discuss growth opportunities with Wescott, please contact Carrie Delgott, Wescott’s Chief Operating Officer and Chief Compliance Officer.
