United Capital adds two firms and more than $1.5B in assets

United Capital Financial Advisers announced Monday it was adding more than $1.5 billion in assets through two acquisitions.
The first, PSA Insurance & Financial Services of Hunt Valley, Md., has a retirement plans practice with $1.1 billion in assets under advisement and a wealth management practice with about $189 million in assets under management.
“This transition is a win-win for all parties,” Trevor “Chip” Lewis, managing director at PSA, said in a statement. “We found an ideal destination for our advisers, clients and retirement plan participants and a great opportunity to serve one another’s client base in an ongoing manner.”
United Capital announced it also would acquire Select Financial Group, which has $270 million in assets under advisement. Founder John Abriola is now a partner and managing director, bringing his seven employees to United Capital.
“The driving force for me has been the culmination of what I’ve witnessed as a boutique owner over the past two and half decades,” Mr. Abriola said. “The industry has drastically changed and made it difficult to conduct business. I came to the conclusion that my team and clients deserved an environment that would offer a path of success and succession.”