LANCASTER, Pa.--(BUSINESS WIRE)--
Fulton Bank, N.A., based in Lancaster, PA, today announced that it has
signed an agreement to buy the wealth management business currently
conducted by Forney Financial Solutions, LLC, based in Altoona, PA.
Forney Financial Solutions, LLC, which was established by John C. and
Sherry G. Forney in 2001, currently has approximately $250 million in
assets under management or administration. Fulton Bank, N.A., a
subsidiary of Fulton Financial Corporation (NASDAQ: FULT), is based in
Lancaster, PA and has approximately $11 billion in assets under
management or administration through its wealth management division,
Fulton Financial Advisors.
“We are pleased to be able to partner with the Forney team to broaden
our reach to serve clients in central Pennsylvania,” said Curtis J.
Myers, president and COO of Fulton Financial Corporation. “The Forney
team has built a strong business, a solid client base and a stellar
reputation. With the added expertise and world-class products that
Fulton Financial Advisors can offer, we feel certain we have created a
winning combination – for clients, for the Forney team and for Fulton.”
“As part of our succession planning, we have searched for almost a year
to find a like-minded firm with which to align, and we were delighted to
find Fulton,” said John Forney. “After the transaction is complete,
other than a change in our name, clients will see very little change in
the way we do business. Sherry and I will continue to be involved in
providing the best service, with the size and strength of Fulton
Financial and our continued relationship with Raymond James supporting
those efforts.”
The terms of the agreement have not been disclosed. The transaction is
expected to be completed early in the first quarter of 2019.
For more information about Fulton Bank, N.A. or Fulton Financial
Advisors, visit www.fultonbank.com
or www.fultonfinancialadvisors.com.
For information about Forney Financial Solutions, LLC, visit www.forneyfs.com.
Additional information on Fulton Financial Corporation can be found at www.fult.com.
Fulton Financial Advisors and Clermont Wealth Strategies operate through
Fulton Bank, N.A. and other subsidiaries of Fulton Financial
Corporation, including Fulton Insurance Services Group, Inc. The
Advisors at Fulton Financial Advisors and Clermont Wealth Strategies
offer a broad array of financial products and trust and retirement
services some of which are provided through ValMark Securities, Inc.,
and/or Raymond James Financial Services, Inc., independent and
unaffiliated registered broker/dealers, Members FINRA/SIPC; and/or
Executive Insurance Agency, Inc., and/or Specific Solutions, Inc.,
unaffiliated licensed insurance agencies; Investment advisory services
offered through Raymond James Financial Services Advisors, Inc. and/or
ValMark Advisers, Inc., unaffiliated investment advisory firms
registered with the SEC.
Raymond James Financial Services, Inc. is not affiliated with Specific
Solutions, Inc., Executive Insurance Agency, Inc., ValMark Securities,
Inc., ValMark Advisers, Inc., Clermont Wealth Strategies, Fulton
Financial Advisors, Fulton Bank, N.A., Fulton Financial Corporation or
any of its subsidiaries. Neither ValMark Securities, Inc., ValMark
Advisers, Inc. nor Executive Insurance Agency, Inc. is affiliated with
Clermont Wealth Strategies, Specific Solutions, Inc., Fulton Financial
Advisors, Fulton Bank, N.A., Fulton Financial Corporation or any of its
subsidiaries.
Securities and Insurance products are not a deposit or other obligation
of, or guaranteed by the bank or any affiliate of the bank; are not
insured by the FDIC or any other state or federal government agency, the
bank or an affiliate of the bank; and are subject to investment risk,
including the possible loss of value.
Forney Financial Solutions is not a registered broker/dealer and is
independent of Raymond James Financial Services, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190103005609/en/
Media Contact:
Laura Wakeley
717-291-2616
Investor Contact:
Jason Weber
(Director of Corporate
Development, FFC)
717-327-2394
Source: Fulton Bank, N.A.