Financial Institutions, Inc. completed the merger of its wholly owned SEC-registered investment advisory firms. As a result, HNP Capital, LLC merged with and into Courier Capital, LLC.
“This merger formally unites our company’s two well-regarded wealth management firms and is the next natural step in the evolution for our investment advisory business line,” said Martin Birmingham, president and CEO of Financial Institutions.
He added that the deal not only supports Courier Capital’s growth but also streamlines the company’s ability to provide innovative financial products and services to current and prospective clients.
Financial Institutions entered the investment advisory space in 2016 with its acquisition of Courier Capital and further strengthened its offering through the acquisition of Williamsville-based Robshaw & Julian Associates, Inc. in 2017.
In 2018, it announced the acquisition of HNP Capital, which expanded the company’s wealth management reach to the Rochester market and bolstered its retirement plan and institutional offerings.
As one of the largest registered investment advisory firms in Western New York with assets under management of some $2.7 billion, Courier Capital provides customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans.
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