These Two Financial Planning Firms Have Combined into Form $1.eight Billion Practice #Press_Release

These Two Financial Planning Firms Have Combined into Form $1.eight Billion Practice #Press_Release

July 11, 2019 0 By NewsTakers

Two New York-based financial planning practices with unique specialties have come to form an Albany, N.Y.-based wealth management firm with a combined $1.8 million in assets under management, the companies say.
HJA, founded in 2005 by Hugh Johnson and several of the firm’s current employees, caters to individuals, institutional clients and non-profit organizations, according to the press release.
BLS, founded in 2002 by Dan Rutnik , is a national multi-family office, JNB says.
The two firms will continue in their respective missions and all associates and principals of both firms are now part of the combined entity, according to the press release.
Johnson will serve as JNB’s chairman and chief investment officer while his partner at HJA, Dan Nolan , will serve as a co-president, along with Rutnik, JNB says.
The companies did not disclose the financial terms of the deal.
“We are very pleased that we are now one firm and we are excited about moving forward as one team,” Johnson says in the press release.
“Our combined assets, resources and people will help us respond to the ever-changing world of finance.
It is increasingly important that organizations are able to provide high-level, sophisticated financial planning to families of means while offering carefully developed asset management services using the best and lowest cost vehicles unconflicted by a need to sell products.
The company has 33 employees, JNB says.

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