Canton, Ohio-based RIA to acquire $240 million crosstown firm

Combined RIA firm will have nearly $1 billion in discretionary assets

Aug 21, 2019 @ 3:15 pm

By InvestmentNews

Beese Fulmer Private Wealth Management, a Canton, Ohio-based registered investment adviser managing about $675 million in discretionary assets, will acquire MacNealy Hoover Investment Management, an RIA also based in Canton and managing about $240 million, in October.

[More:Calif.-based RIA acquires firm managing $250 million]

The move will make Beese Fulmer one of the largest money managers in Northeast Ohio based on assets under management, the firm said in a release.

Both firms use Schwab as their principal custodian, said Ryan Fulmer, CEO.

"We explored multiple transition possibilities," said Harry MacNealy, CEO of MacNealy Hoover. "Sometimes, it just takes a while to recognize the solution is right under your nose. In our case, just four blocks south."

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