Sammons Financial Group Enters into a Definitive Agreement to Acquire Wealthcare Capital Management from NewSpring Holdings

Sammons Financial Group announces it has signed a definitive agreement to acquire Wealthcare LLC (Wealthcare), a Registered Investment Advisor (RIA) firm with offices in Richmond, Virginia, and Philadelphia. Wealthcare is a full-service financial advisory firm with nearly 200 independent advisors and over 12,000 clients throughout the US.

“We are excited by the breadth and scale of services Wealthcare offers,” said Esfand Dinshaw, CEO of Sammons Financial Group. “We look forward to adding the Wealthcare team and its 60+ employees to Sammons Financial Group as we expand our growth in the independent financial advisor space. We welcome the independent advisors and employees who are part of the Wealthcare team.”

Wealthcare joins Sammons Financial Group’s existing portfolio of financial advisory firms, which include Dayton, Ohio-based Beacon Capital Management and NorthRock Partners with headquarters in Minneapolis and offices throughout the country, including the Bay Area.

“Wealthcare is grateful to NewSpring Holdings for its decade-long partnership, which has successfully fueled our growth. We are excited about our new partnership with Sammons Financial Group as this acquisition aligns perfectly with the long-term vision for both organizations. For Wealthcare, it will provide the capital to accelerate the execution of our growth strategy as a leading destination for financial advisors while enabling Sammons Financial Group to expand further in the wealth management space.”

This collaboration represents a significant milestone for both companies, affirming their dedication to elevating the client experience. Wealthcare empowers advisors to scale with a flexible services model built on integrated technology, tailored portfolio strategies, and comprehensive operational support.

Wealthcare is a recognized leader in the financial services advisor industry. In 2024, Barron’s recognized the firm in its list of top 100 RIA firms for the fifth consecutive year, and AdvisorHub named Wealthcare as one of the top 100 RIAs to watch.

Berkshire Capital and Gibson, Dunn & Crutcher LLP represented Sammons Financial Group and Republic Capital and Blank Rome LLP represented Wealthcare and NewSpring Holdings in finalizing this transaction. Terms of the transaction are not disclosed. The transaction is expected to close subject to customary regulatory approvals.

About Sammons Financial Group
The companies of Sammons Financial Group® help families and businesses by empowering futures and changing lives. Sammons Financial Group is employee owned with member companies that are among the most enduring and stable in the financial services industry. Sammons Financial Group is Midwest-based, with offices in Iowa, Illinois, Minnesota, North Dakota, Ohio, and South Dakota.

About Wealthcare

Wealthcare, a business unit of Financeware, architected its original goals-based planning and investing methodology 26 years ago and holds 12 patents on its established goals management process. Powered by its patented Comfort Zone^®, Wealthcare's approach features innovative, personalized experiences and step-by-step tools that create deeper relationships between advisors and investors. Wealthcare empowers firms and advisors to go independent and grow their advisory businesses by providing GDX360^® – Wealthcare's proven fiduciary process that seamlessly integrates planning, investing, and trading – and a full-suite of practice-management services. Wealthcare is comprised of three RIAs, Wealthcare Advisory Partners LLC, Wealthcare Capital Management LLC, and Wealthcare Capital Partners LLC. Learn more at www.wealthcaregdx.com.

About NewSpring Holdings

NewSpring Holdings, NewSpring's majority investment strategy focused on sector-specific platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $3.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.