United Capital adds two firms, $370 million in AUM

United Capital Financial Advisers has acquired two firms, Bedrock Capital Management in Los Altos, Calif., and Harvest Group Financial Services Corp. in Pennsylvania

Jan 26, 2016 @ 7:00 am

By Alessandra Malito

United Capital Financial Advisers has acquired two firms, Bedrock Capital Management in Los Altos, Calif., and Harvest Group Financial Services Corp. in Pennsylvania, gaining more than $370 million in assets under management.

What makes the two firms unique for United Capital is what the owners were doing before starting their businesses. Bedrock principal Joel Shaps acquired the firm while he was a client, in March 2001. Rosemary Caligiuri, founder of Harvest Group Financial, was a registered nurse and working with mothers who had high-risk pregnancies.

Mr. Shaps and two fellow principals at Bedrock, Eric Lewis and Tony Blagrove, will join United Capital as managing directors.

Since acquiring Bedrock, Mr. Shaps earned his certified financial planner designation. Ms. Caligiuri, who founded her firm in 1994, earned her retirement income certified professional designation.

“Our latest additions serve as proof that firms around the country are seeking to better their market positions and, more importantly, how they help clients,” said Matt Brinker, head of national partner development at United Capital, in the company press release. “Rosemary, Joel, Eric and Tony, and their unique backgrounds, underscore our appeal to advisers and investors.”

Ms. Caligiuri said by being a financial adviser she has been able to continue helping people.

“I built a great business,” she said. With United Capital, the firm will be able to “further our passion of being a guide and a coach … We will absolutely be able to help people at a much deeper level.”


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