Leading RIA receives a minority investment from one of the nation’s largest community banks, expanding and deepening its service offering for clients
Leading independent wealth management firm Exencial Wealth Advisors (Exencial) announces its partnership with First United Bank (First United), a Spend Life Wisely Company® and one of the nation’s premier financial institutions, which has acquired a minority stake in the firm.
“At First United, our purpose is to inspire and empower others to spend life wisely”
As part of this strategic partnership, Exencial and First United are taking a technology and data enabled approach to collectively provide a broader, enhanced service offering for clients.
“Our newly formed relationship with First United is emblematic of our broader goal to help people live the lives of their dreams. This partnership will provide our advisor teams with unmatched depth in each area of our wealth management platform,” said John Burns, Chief Executive Officer of Exencial. “Further, First United’s unwavering commitment to their relationships with clients, communities, and employees mirror those of our own. It’s truly a perfect match.”
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Exencial clients will now have access to First United’s personal banking, commercial lending, insurance, and mortgage services. Similarly, Exencial’s comprehensive wealth management offering, including financial and estate planning, investment management, tax and accounting services, will be made available to First United clients.
Following Exencial’s acquisition of Netting & Pace, CPAs in 2016 and Willingdon Wealth Management in 2020, this partnership will provide the capital deployment and flexibility necessary to further support Exencial’s regional expansion efforts and fund future deals as the firm enters the next phase of its evolution as a fully integrated financial services provider.
“At First United, our purpose is to inspire and empower others to spend life wisely,” shared Greg Massey, President and Chief Executive Officer at First United. “Our partnership with Exencial will support our efforts by providing our customers with a broader range of services in one location. We hope this will give them more time to focus on what’s most important and truly enable them to spend life wisely.”
“Together, First United and Exencial will further their collective mission to return to a world of hand-shake banking and integrated financial planning, where service frictions are reduced and clients can easily do business and transact while focusing on the important things in life,” added Burns.
Advisor Growth Strategies, LLC, a leading consulting firm serving the wealth management community, provided transaction advisory services to Exencial.
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