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.
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The terms of the deal were not disclosed, but the transaction is expected to be completed in the first quarter of 2019.