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

Canton, Ohio-based RIA to acquire $240 million crosstown firm
Combined RIA firm will have nearly $1 billion in discretionary assets.
AUG 21, 2019

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." [Recommended video: Schwab's Jeff Kleintop: Prep for volatility given China trade uncertainties] ​

Latest News

OECD maps AI’s biggest job risks but LPL’s chief economist sees potential upside
OECD maps AI’s biggest job risks but LPL’s chief economist sees potential upside

Dr Jeffrey Roach says a 19th-century paradox explains why efficiency gains may lift labor demand.

Why strategy matters more than performance
Why strategy matters more than performance

In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.

When Growth Outruns the System
When Growth Outruns the System

According to Flyer Financial Technologies, rising portfolio complexity is exposing the limits of legacy infrastructure and widening the gap between automation and reality

SEC to lose Hester Peirce, deepening a commissioner crisis
SEC to lose Hester Peirce, deepening a commissioner crisis

The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.

Florida B-D, RIA owner pitches bold long-term plan to sell to advisors
Florida B-D, RIA owner pitches bold long-term plan to sell to advisors

IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.

SPONSORED When Growth Outruns the System

According to Flyer Financial Technologies, rising portfolio complexity is exposing the limits of legacy infrastructure and widening the gap between automation and reality

SPONSORED Why strategy matters more than performance

In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.