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WSFS Announces Market Expansion for Bryn Mawr Capital Management
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WILMINGTON, Del.--(BUSINESS WIRE)--
Bryn Mawr Capital Management, a subsidiary of WSFS Financial Corporation (NASDAQ: WSFS), today announced its expansion into southern Delaware and the establishment of a new presence in Boca Raton, Florida, after closing on an asset purchase agreement with a woman-founded, owned and managed registered investment advisory firm based in Rehoboth Beach, Delaware.
With this purchase, Bryn Mawr Capital Management welcomes six new Associates with a deep expertise and understanding of the industry. With the addition of these new team members, Bryn Mawr Capital Management is well equipped to provide expert guidance and tailor-made solutions to Clients seeking to optimize their financial goals in the rapidly growing beach areas of southern Delaware and to serve Clients residing in Florida.
Bryn Mawr Capital Management’s expansion into southern Delaware will be led by accomplished financial advisor Jackie Blue. Ms. Blue is joined in the Rehoboth office by Andres Bonell and Sally Lawson, Senior Investment Advisors, Ellen Shea, Investment Advisor, and Irene Sole, Client Service Associate. The Boca Raton office will be led by Jackie Reeves, Director of Retirement Plan Services.
“This acquisition bolsters our wealth management capabilities and expands our reach to better serve diverse Clients across multiple regions,” said Arthur Bacci, Executive Vice President, Chief Wealth Officer. “This transaction is consistent with WSFS’ communicated strategy to grow its wealth business and will be immediately accretive to EPS and ROA.”
Piper Sandler served as M&A advisor and Troutman Pepper served as legal advisor to Bryn Mawr Capital Management. Park Sutton Advisors, a Waller Helms Company, served as the seller’s M&A advisor in the transaction.
About WSFS Financial Corporation
WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally-headquarter headquartered bank and trust company in the Greater Philadelphia and Delaware region. As of June 30, 2023, WSFS Financial Corporation had $20.4 billion in assets on its balance sheet and $67.9 billion in assets under management and administration. WSFS operates from 114 offices, 88 of which are banking offices, located in Pennsylvania (59), Delaware (39), New Jersey (14), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, consumer banking, treasury management and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Bryn Mawr Capital Management, LLC, Bryn Mawr Trust®, The Bryn Mawr Trust Company of Delaware, Cash Connect®, NewLane Finance®, Powdermill® Financial Solutions, WSFS Institutional Services®, WSFS Mortgage®, and WSFS Wealth® Investments. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.
