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ESL to buy Cooper/Haims Advisors
ESL to buy Cooper/Haims Advisors
Listen to this articleESL Federal Credit Union is slated to make its first acquisition: Victor-based Cooper/Haims Advisors, this fall.
Made through ESL Investment Services, a subsidiary of the credit union, the deal is expected to serve as an expansion of the Wealth Management department of ESL, specifically by adding broader services in retirement, insurance, financial, estate, tax and investment planning. Founded in 1981, Cooper/Haims offers a broad array of advisement services across those fields.
“This acquisition of Cooper/Haims will enhance and expand the broad wealth management services we already offer and is a part of our long-term plans to continually address the evolving needs of our market,” said Faheem Masood, president and CEO of ESL, in a statement. “The Cooper/Haims team has an outstanding history of providing high-quality services and solutions to clients”
The deal, expected to be completed in October or November, will bring the assets of ESL Wealth Management to $2 billion in invested assets. According to the National Credit Union Administration, ESL has a total of just under $6.7 billion in assets and 364,479 total members, spread across 21 branches in the Greater Rochester area. Following completion of the acquisition, Cooper/Haims will retain both its name and headquarters at 50 Square Drive.
“Being a part of ESL will provide additional resources to enable us to deliver even better service,” said Jared Haims, partner at Cooper/Haims. “Changes in investments, technology, taxes, estate planning, and regulations are happening with increasing speed. The ESL team has done such a phenomenal job building their experience and expertise over the years that joining the organization will enhance our service offering at a level of depth not possible entirely on our own.”
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