Citizens Financial Expands Advisory Capabilities With Clarfeld Financial Acquisition
Clarfeld’s sophisticated high net worth and ultra-high net worth offerings augment Citizens Bank Wealth Management’s multi-segment investment advisory platform
“The Clarfeld acquisition provides a unique opportunity to accelerate our strategy of building a highly competitive wealth management business that is well-positioned to offer a comprehensive range of wealth management and banking services to existing and future clients,” said
Bahnken continued, “Clarfeld’s strong leadership, highly skilled team of wealth management professionals and broad range of advisory services complement our existing platform while adding important scale to our business. I am delighted to announce that upon closing, Robert A. Clarfeld will be named CEO of our combined high net worth and ultra-high net worth businesses. Under Rob’s leadership, we have a significant opportunity to serve the most complex needs of our clients while we continue to focus on expanding our business.”
“For 37 years our team has delivered highly individualized wealth management services through a fully integrated, multi-disciplined approach that has weathered multiple market cycles and shifting income and estate tax laws,” said
As of
Ranked as a top-25 Registered Investment Advisors for 2018 by Barron’s, Clarfeld previously has been highly ranked by Bloomberg and
Upon closing, Clarfeld will continue to operate under its current brand name and become a division of Citizens Bank Wealth Management. Citizens Bank Private Wealth Management will be integrated into Clarfeld. The addition of Clarfeld will enhance Citizens’ ability to provide a full suite of family office, investment, financial planning and tax and estate planning services for existing and new clients. The transaction is expected to close late this year or early next year, subject to customary closing terms and conditions and regulatory approval.
About
About Citizens Bank Wealth Management
Citizens Bank Wealth Management provides integrated banking and investing services to clients to help them grow and protect their wealth, and plan for retirement and other long-term financial objectives. Citizens Bank Wealth Management includes a brokerage arm, Citizens Investment Services, as well as Premier Advisory and Citizens
About
Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This communication contains “forward-looking statements” — that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” or “target.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include the failure to consummate this transaction or to make or take any filing or other action required to consummate any such transaction on a timely matter or at all. These or other uncertainties may cause our actual future results to be materially different from those expressed in our forward-looking statements.
Citizens Bank Wealth Management is comprised of both banking and brokerage affiliated companies.
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