Independent registered investment advisory firm AlphaCore Wealth Advisory announced it is acquiring SPC Financial, a Rockville, Maryland-based wealth-advisory and tax-services firm. The deal brings approximately $1.5 billion in client assets and expands AlphaCore’s team by nearly 40 professionals, including advisors and tax specialists.
SPC Financial, founded in 1970 and led by President & CEO Edward “Jeff” Sella, serves the Washington, D.C./Maryland/Virginia region and specializes in integrated tax & wealth-planning services.
At the closing of the deal, the combined firms will have over $8.5 billion in client assets and over 100 employees, serving clients from AlphaCore’s La Jolla, California headquarters, and additional offices in Denver, Colorado; Austin, Texas; Greenwich, Connecticut; and Rockville, Maryland.
The acquisition helps expand its East Coast presence (specifically the Mid-Atlantic region); deepen in-house tax-planning capabilities and integrated wealth services; and increase scale and resources for existing and prospective clients.
KEY QUOTES:
“When we founded AlphaCore, our vision was to build an enduring boutique wealth management firm that delivers a premium client experience through both scale and comprehensive services. This partnership with SPC, following our acquisition earlier this year with Callan Capital, is transformative for our firm, our advisors, and the clients we serve.”
Dick Pfister, Founder and CEO, AlphaCore
“Joining AlphaCore represents a natural evolution for SPC and our clients. We share a commitment to a fiduciary mindset of integrity and long-term client success. What made this compelling for our team was the idea that the firm was motivated to build a lasting business that fostered more opportunities for our clients and advisors.”
Jeff Sella, Managing Partner, SPC
“We have spent considerable time building a relationship with Jeff and the SPC leadership team, and that trust is at the center of this partnership. Their team will be central to our next phase of growth and the continued development of our tax and advisory capabilities.”
Aidan Walsh, Head of Corporate Development, AlphaCore
“We have almost doubled our capacity to serve clients this calendar year through a combination of thoughtful acquisitions and underlying organic growth. This progress does not happen without cultivating a community of clients, advisors, and professionals who share our vision for the future of wealth management. The addition of the SPC team marks a defining moment as we continue building toward that vision.”
Dick Pfister, Founder and CEO, AlphaCore
