Apella Wealth Kicks Off New Year with $1.7 Billion Acquisition of PBMares Wealth Management
The wealth management world is starting the year with a bang, as Apella Wealth announced a major acquisition that significantly bolsters its presence in the Mid-Atlantic region. The firm has successfully acquired the wealth management division of accounting giant PBMares LLP, bringing $1.7 billion in client assets under the Apella umbrella.
The deal, which closed quietly at the end of 2025 on December 31, was formally announced this week and immediately pushed Apella’s total Assets Under Management, or AUM, to a remarkable figure approaching $10 billion. This transaction marks Apella’s 25th acquisition overall, underscoring the firm’s aggressive growth strategy within the highly competitive Registered Investment Advisor, or RIA, space.
PBMares Wealth Management, headquartered in Williamsburg, Virginia, was known for its personalized financial guidance and specialized expertise, a key factor that Apella’s leadership pointed to as a reason for the partnership. The acquisition not only expands Apella’s geographic footprint in the Mid-Atlantic but also strategically blends wealth advisory and CPA expertise, a growing trend in the industry where clients are looking for comprehensive financial guidance all under one roof.
“We are thrilled for the PBMares wealth team to join Apella and to continue a strategic relationship with PBMares LLP,” said Jim Scanlan, President of Apella. He highlighted that the PBMares team’s client-first philosophy mirrors Apella’s own values.
For clients of the former PBMares division, the transition is designed to be seamless. The entire team of 19 staff members, including 11 advisors, will be joining Apella Wealth. This means that clients will continue to work with the same trusted professionals they have relied on for their financial planning. Harvey Johnson, CEO of PBMares LLP, reassured clients, noting that they will gain access to more robust resources while still working with their established team.
Apella CEO Pat Sweeny framed the partnership as an exciting moment, emphasizing the firms’ shared commitment to expanding impact and elevating service for clients. The transaction is a clear continuation of a growth initiative that has seen Apella complete 14 acquisitions since receiving a minority investment from Wealth Partners Capital Group in September 2021.
This major deal is a sign that the consolidation wave in the wealth management sector shows no signs of slowing down. For Apella, bringing in $1.7 billion in AUM from an established, reputable firm like PBMares is a powerful statement about their commitment to becoming a national leader in the financial advisory landscape. The move strengthens their ability to serve individuals, families, and businesses across the country with a deeper pool of talent and resources.
