PROVIDENCE – Citizens Financial Group Inc. has completed its acquisition of Clarfeld Financial Advisors LLC, Citizens announced Wednesday.
Citizens Bank Private Wealth Management will be integrated with Clarfeld, which Robert A. Clarfeld will continue to lead as CEO.
Citizens previously said that Clarfeld has more than 70 employees and will be retaining its offices in New York.
“The completion of the Clarfeld Financial Advisors acquisition is a significant milestone in the growth of our wealth management business,” stated John Bahnken, president and CEO of Citizens Bank Wealth Management. “The addition of Clarfeld’s highly skilled team and broad range of advisory services strengthens our existing platform, enhancing our ability to provide a full suite of family office, investment, financial planning and tax- and estate-planning services for existing and new clients.”
The combined wealth management business will oversee approximately $14.4 billion of assets under management and $34.1 billion of assets under management/assets under administration.
Details of the transaction were not disclosed.
