Fulton Bank of Lancaster, Pennsylvania, says it is buying Forney Financial Solutions, a wealth group with some $250 million based in Altoona, Pennsylvania, and affiliated with Raymond James.
Fulton Bank has some $11 billion of assets in its wealth operations, which does business as Fulton Financial Advisors.
“As part of our succession planning, we have searched for almost a year to find a like-minded firm with which to align, and we were delighted to find Fulton,” said John Forney, who founded Forney Financial Solutions with his wife, Sherry, in 2001, in a statement.
“Sherry and I will continue to be involved in providing the best service, with the size and strength of Fulton Financial and our continued relationship with Raymond James supporting those efforts,” he added.
The terms of the deal were not disclosed, but the transaction is expected to be completed in the first quarter of 2019.