Pittsburgh-based Signature Financial Planning today announced that it has merged with another local company, Marbury Wealth Management, to create a new entity with $ 772.7 million in assets under management.
The merger, which went into effect Jan. 1, will provide Marbury clients with an expanded range of services and organizations, while Signature and its clients will benefit from the depth and breadth of knowledge of Marbury’s wealth management advisors, the announcement said .
Scott Tobe, President and CEO of Signature Financial Planning, said the union brings together two strong long-established companies in the city, Signature Financial, 30 years old and Marbury 21 years old. “This joint venture will make Signature Financial one of the top 20 wealth management companies in Pittsburgh,” he said in a statement.
Signature brings in $ 542.7 million to the partnership, while Marbury brings in more than $ 230 million. The new company will have 16 employees.
Scott Oehrle, President and CEO of Marbury Wealth Management, said the shutdown amid the Covid-19 pandemic had given him an opportunity to pause and think about the future of his company and customers. “Since I worked in asset management for more than 30 years and had no continuity in the second generation, it was important for me to join a strong company that enables me and my team to continue to maintain all of our customer relationships with the opportunity to create more value for their utility and financial success, ”he said in a statement.
“Our companies have known each other for more than 15 years and this was the only choice going forward,” he added.
Partner advisor Denise Quinn and two members of the administration team join Oehrle at Signature Financial. Marbury will keep its downtown office until the lease expires in 2023.
To read more stories click here