California based investment advisory firm Hanson McClain Advisors has agreed to merge with Ohio-based counterpart Simply Money Advisors.
The deal, which is subject to regulatory nod, is Hanson McClain’s first such collaboration as part of a broader strategy to foray into new geographies.
The deal will result in the creation of a group with $3.3bn in assets. The merged entity will have a client base of more than 6,200.
Simply Money co-founders Nathan Bachrach and Ed Finke will continue to serve in the senior leadership team of the merged group.
“Over the past 20 plus years we have helped thousands of clients with their retirement planning needs. We are both industry leaders on our own, and we will be even stronger and better together,” Finke noted.
Hanson McClain founder and co-CEO Scott Hanson said: “Hanson McClain and Simply Money serve very similar client demographics with a consistent fiduciary, client-first, and planning-centric advisory experience. On a combined basis, we intend to make additional investments to continue improving the best-in-class client experience.”