Apella Capital enters R.I. market through acquisition of local firm

APELLA CAPITAL, a growing wealth management firm based in Connecticut, has acquired a local firm, Convergence Wealth Advisors, and entered the Rhode Island market.
APELLA CAPITAL, a growing wealth management firm based in Connecticut, has acquired a local firm, Convergence Wealth Advisors, and entered the Rhode Island market.

PROVIDENCE – Apella Capital LLC, a growing wealth management firm, has acquired a local firm and entered the Rhode Island market.

The company, based in Connecticut with more than $400 million in assets under management, acquired Convergence Wealth Advisors. Terms of the deal were not disclosed.

Apella specializes in investment management, tax planning and planning services for high-net individuals and business owners. The firm also added local financial advisers Jerry Dorfman – a principal at Convergence – and James P. Scanlan.

“Partnering with Apella will provide my clients with access to an extensive team of investment, estate, insurance and business and tax planning specialists,” Dorfman said in a statement. “Apella’s commitment to empowering investors will be a tremendous value for the Providence community.”

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Scanlan will oversee business development and provide managerial oversight across offices.

“We are excited and flattered to have attracted such talent and expertise,” said Patrick Sweeny, co-founder and partner at Apella. “As our firm continues to grow, we can expand upon providing our clients even better service.”

The firm also recently opened offices in Marblehead, Mass., and Lenox, Mass.

Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.