Hanson McClain Continues California Expansion with New Acquisition
Hanson McClain Advisors is continuing its push into the California wealth management market, most recently acquiring a Napa, Calif.-based RIA, according to news reports.
HBP Retirement Group oversees $235 million, InvestmentNews writes. With the acquisition, the terms of which the companies didn’t disclose, Hanson McClain now oversees $3.8 billion for clients in the Rocky Mountain, Midwest and West Coast regions, according to the publication.
Hanson McClain claims it brought on more than $1 billion in client assets last year, InvestmentNews writes.
Last January, when the firm announced its merger with Simply Money Advisors, it said in a press release that the combined entity would already oversee an estimated $3.3 billion, for more than 6,200 clients.