United Capital Financial Advisers, based in Newport Beach, Calif., and which bills itself as a “private wealth counseling firm,” is a subsidiary of United Capital Financial Partners, which has more than $13 billion of client assets under advisement at 29 offices around the country.
Vantage Point, based in the Philadelphia suburb of Lower Gwynedd, Pa., will now be known as United Capital Private Wealth Counseling.
"The team at United Capital thinks differently about our business and is looking to change the conveyor belt approach to the investment advisory industry by focusing on the client’s whole financial life,” said Terry Siman (left), founder of Vantage Point Advisors, in a statement. “The cultural fit was also significant for a tenured firm like us, and it was clear from our meetings with United Capital that their partnership group is made up of the kind of people who will change the financial services landscape over the coming years.”
Siman, who formed Vantage Point Advisors in 1984, is a past president and chairman of the board of the Institute of Certified Financial Planners, a national professional association. Also, he was the first attorney to achieve the CFP designation in Pennsylvania’s Delaware Valley. With the consummation of the deal, United Capital adds more than $170 million of fee-based assets under management.
“With the addition of Terry Siman and his great team, we’ve strengthened an already experienced group of investment and wealth counselors with a pure fee-based practice,” United Capital CEO Joe Duran (left) said in a statement. “As we continue to execute on our organic and strategic growth plans, it is teams of professionals like these that set the stage for growth in this new market for us.”