Riverview Bank, a subsidiary of Riverview Financial, has agreed to acquire Shrawder Financial Services, an independent financial services firm based in Sunbury, Pennsylvania for an undisclosed sum.
Shrawder will continue to operate from its Sunbury office under the name Riverview Wealth Management, a division of Riverview Bank. The firm will continue to use LPL Financial as the broker dealer of record.
Shrawder CEO Laura Shrawder-Miles will remain with Riverview in a leadership role and continue to service existing clients.
"This combination will be mutually beneficial, but one of the most important aspects for me was the long term stability and support for my clients, without having to sacrifice the independent nature of how I built my business," she said.
Laura Shrawder-Miles started, owned and operated Shrawder for the past 11 years.
"Riverview's style of service will be a good fit for my existing clientele and I am excited to be in a position to add retail investment clients from Riverview's branch network in the near future," she added.
Shrawder, which served the Sunbury and surrounding markets since 2005, is Riverview’s second wealth management acquisition deal since May 2016. In June 2016, Riverview Bank agreed to buy Your Vision Financial Services, a Palmyra, Pennsylvania-based independent financial advisory firm.
Riverview Financial president Brett Fulk said: "We look forward to supporting Laura as she continues to operate as she has as an independent advisor, providing both she and her client base with additional support, products and services for the benefit of her valued clients."