Meridian Bank in Pa. to buy wealth management firm
Meridian Bank in Malvern, Pa., has agreed to buy HJ Wealth Management in Plymouth Meeting, Pa.
The $734 million-asset Meridian said in a press release Thursday that HJ Wealth will be merged into its wealth advisory group to form Meridian Wealth Partners. The acquisition, which is expected to close in April, would give Meridian roughly $700 million in assets under management.
Meridian did not disclose the price it will pay.
“This addition will help us with our mission of bringing superior financial planning and wealth management services to a broad segment of customers,” Chris Annas, Meridian's CEO, said in the release. “We look forward to continued organic growth and possible future acquisitions.”