This Glastonbury wealth management firm spans the West Coast

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A Glastonbury-based wealth management firm has acquired an investment advisory firm headquartered in Olympia, Washington.

Apella Capital announced on Wednesday that it has purchased NR Smith and Associates, expanding its presence on the West Coast. This is Apella’s second acquisition in 2022.

NR Smith, with over $82 million in assets under management, is a wealth management firm and CPA practice with roots dating back to 1941.

“We view NR Smith as a catalyst for growth in the Pacific Northwest and beyond,” said Apella founder David Connelly. “They share our passion for planning, client service and evidence-based investing, making them the perfect cultural partner for our growing team. »

Stacie Nemetz, partner at NR Smith, said that as the company faces greater compliance and operational complexities, its agreement with Apella allows it to “focus on our local needs with the strength of a national team behind us”.

This is Apella’s 13th transaction since its inception in 2014. Apella, which had more than $2.7 billion in assets under management and administration as of December 31, 2021, has 13 offices in Massachusetts, Rhode Island , New York, Georgia, Tennessee, Texas, Washington, Colorado, Oregon and California.

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