A unit of WSFS Financial in Wilmington, Del., has bought accounts tied to an investment advisory firm in Rehoboth Beach, Del.
Bryn Mawr Capital Management will also gain six associates who worked at Bell Rock Capital, including Jackie Reeves, who will lead the Florida office.
Bell Rock founder Cassandra Toroian, who has been fighting legal claims by the Securities and Exchange Commission over her trading practices, will not join the WSFS unit.
The financial terms were not disclosed.
“This acquisition bolsters our wealth management capabilities and expands our reach to better serve diverse clients across multiple regions,” Arthur Bacci, WSFS Bank’s chief wealth officer, said in a press release.
“This transaction is consistent with WSFS’ communicated strategy to grow its wealth business and will be immediately accretive to” earnings per share and return on assets.”