Deals Of The Day: The Latest In Wealth Management M&A – Private Advisor Group

Editorial Staff

14 September 2023

Private Advisor Group, WP Financial
WP Financial, affiliated with US-based Private Advisor Group, has acquired Sage Financial, a $95 million firm in its neighboring community in Connecticut. The deal brings WP’s AUM up to $650 million.

The financial terms of the acquisition were not disclosed.

Private Advisor Group supported the transition with compliance and communication resources as well as multi-custodial capabilities.

WP Financial was founded and led by Bill Rabbitt CFP®. The firm was approached for the acquisition, following the untimely passing of Robert Sheldon Thompson, president of Sage Financial Design.

"Bob was a well-known figure in my hometown, and his work laid a solid and respected foundation for financial planning," Rabbitt said. "Our goal is to honor his legacy, minimize any disruption for investors, and elevate their planning support through technological advancements and innovation. While upholding the professionalism and high-quality service that the firm is known for, we will optimize operations and introduce new solutions that benefit our valued clients."

With four full-time employees, the acquired business will continue to operate in Connecticut as the Simsbury branch of WP Financial. This expansion in Simsbury follows WP Financial's previous addition of Elizabeth DeBassio and her practice.