WSFS Financial Corporation has acquired the assets of West Capital Management, an independent, fee-only wealth management firm which operates under a multi-family office philosophy.
West Capital, founded in 1994 by Matthew West, is headquartered in Philadelphia, Pennsylvania.
Its proprietary Tripod relationship model focuses on collaboration among its distinct advisory, investment research and wealth planning departments. It has 17 members of staff.
“This partnership significantly bolsters our wealth management capabilities and is consistent with our objective of becoming a premier provider of products and services that enable our customers to meet their financial goals,” says Rodger Levenson, executive vice president and chief corporate development officer. “From a financial perspective this all-cash transaction is consistent with WSFS’ communicated strategy on fee-based acquisitions and will be immediately accretive to EPS and ROA.”
West says: “Partnering with WSFS is an exciting opportunity for us. Their dedication to customer service mirrors our commitment to our client relationships. WSFS continues to expand and diversify their wealth management offerings, growing their customer base and footprint in the region. Being an integral part of this is an honour for us and positions us for even greater success.”
West will continue to serve as president of West Capital Management and all members of the West Capital Management team will become WSFS associates.
The company will continue to operate as West Capital Management and will be a subsidiary of WSFS Financial Corporation.
