Courtesy HK Wealth Management
By Rod Bacon
Earlier this year, HK Wealth Management Group, headquartered in Clifton Park, expanded its reach with the acquisition of two area financial advisors.
Burnt Hills Financial and Wilbur Financial Group of Greenwich were brought into the HK family. The client base from both practices and some physical assets in Greenwich were purchased.
Burnt Hills Financial was founded in 2016 by Thomas Lansing Jr., while Wilbur Financial Group was established in 2005 by Larry J. Wilbur. According to Kevin M. Hedley, MS, CPA, PFS, HK’s founder and principal adviser, the acquisition of these firms is a good fit because they all use the same broker-dealer and money managers, so the transition has been seamless.
“This acquisition allows us to continue serving more individuals and families throughout the region while maintaining a local presence,” he said. “It also enables clients to benefit from the resources of our broker-dealer partners and leading asset management platforms such as AssetMark. As one of AssetMark’s higher-tier firms we are able to provide a broader ranger of planning and investment solutions than may have previously been available.”
According to Hedley, the acquisition added approximately $100 million in client assets and expanded the number of families the firm serves throughout the Capital Region and Washington County.
“This is a meaningful increase in assets under management and client relationships,” he said. “More importantly, it allows us to leverage additional scale and resources while continuing to provide the personalized service our clients expect.”
While the Burnt Hills office has been closed, the Greenwich office will continue to serve clients. Former Burnt Hills clients can access full financial services at HK’s Clifton Park location.
“Because Wilbur Financial has been a staple in that community for many years we felt it is important to keep it open and staffed to make it as convenient as possible for our new and existing Washington County clients to see us,” said Hedley.
Jennifer Casey, the existing client service associate, will continue serving clients at that office.
Hedley emphasized that all of the firm’s financial planning and wealth management services are available at both locations.
“We assist clients in all facets of their financial life, from preparing for retirement during their working years to managing their finances once retired. We work with multi-generation families, small business retirement plans, and also offer various insurance solutions. A major focus of our firm is managing money for our clients,” he said.
This is the first acquisition for the firm, but Hedley said they would definitely do it again if things lined up to benefit all parties concerned.
HK Wealth Management Group is located at 1593 Route 9 in Clifton Park. Key personnel include client liaison Shelly DeCicco and registered representative Joel Bennett.
The Greenwich office is located at 75 Main St.
For more information, go to hkwmg.com or hedleycpa.com.