Brumbaugh Wealth Management, a strategy-driven firm based in Exton that designs comprehensive and flexible financial solutions for clients that help meet the needs of today while laying the foundation for tomorrow, has acquired the local investment advisory practice of a peer in the Lincoln Financial Advisors Corp.
The purchase of the Berwyn-based practice of Barbara Morse, who is retiring, will add $55 million in assets under management to Brumbaugh Wealth Management, as the firm will expand its service of clients from 20 to 24 states.
The acquisition is part of Brumbaugh Wealth Management’s strategic growth initiative, which began in 2017 with a move to larger, more contemporary office space on Eagleview Boulevard.
“Barbara has a tenure of 17 years in the industry, and with her retirement on the horizon and the current turmoil in the stock market, she wanted her clients to be well taken care of,” said Kimberly Brumbaugh, CEO of Brumbaugh Wealth Management. “She sought us out, knowing that our firms share the values of transparency and putting clients first.”
To ensure continuity with client relationships, Morse’s full-time employee, Lauren Patrick, began working at Brumbaugh Wealth Management for one day a week starting in October 2017.
“Barbara’s clients have received us well,” Brumbaugh said. “We’ve spent a fair amount of time meeting with them to understand their financial situations.”
With a heavy concentration of Morse’s clients located on the Main Line and in Philadelphia, Brumbaugh noted that the acquisition enables her firm to further expand its footprint in those areas.
Brumbaugh Wealth Management was founded in 2004 to return the world of financial planning back where it belongs: to the client. The fully-independent firm is inspired by clients’ values, motivated by their goals, and driven to provide lasting solutions. Affirmed by the unrivaled support of Lincoln Financial Advisors, Brumbaugh Wealth Management adheres to its philosophy of “service first, last, and always.”
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