NU Online News Service, June 13, 11:30 a.m. – United Insurance Agency Inc., Williamsville, N.Y., a subsidiary of UNB Corp., Canton, Ohio, says it will merge with Rownd Financial Advisors Corp., North Canton, Ohio. Terms of the transaction were not disclosed.
The products and services offered by Robert and Lora Rownd, principals, will be incorporated into United Insurance Agency Inc., which will be renamed United Financial Advisors Inc. The new company will be headquartered in North Canton, Ohio.
Robert and Lora Rownd will continue to offer securities and investment advisory services through Lincoln Financial Advisors Corp., Philadelphia.
The transaction represents UNB Corp.’s effort to expand its wealth management unit and increase fee-based income. Last year, the Federal Reserve Bank granted UNB Corp. financial holding company status, which allows the company to diversify into non-traditional, fee-driven businesses such as insurance, brokerage services and financial planning.