Indianapolis wealth management firms merge
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A pair of Indianapolis-based wealth management firms has joined forces. The Wellington Group and TrustWealth Strategies completed their merger in September and are now operating as Wellington Wealth Strategies.
Financial terms of the merger were not disclosed, but the combined company has a reported $750 million in assets under management.
The Wellington Group was founded in 1996 by President Tony Bonanno. TrustWealth was founded by Greg Freeman and Joe Hillman.
“The evolution into Wellington Wealth Strategies was a thoughtfully deliberated move, Bonanno said in a news release. “Greg and Joe’s team seamlessly align with our ethics and core values, affirming their position as the ideal partners to foster enduring success for our business and cherished clients.”
Both firms were located on the same floor at 9000 Keystone Crossing on the north side of Indianapolis. The combined company will maintain that office and continue operating satellite offices in Crown Point and Fort Wayne.
Prior to the merger, The Wellington Group had six employees and TrustWealth had 10. The combined company said no jobs are being lost with the merger; in fact, one person was hired during the process, and plans call for three more hires in the near future.
As part of the combination, Bonnano will serve as founder and managing partner. Freeman and Hillman will serve as founders and partners.
Wellington Wealth Strategies said the merger will allow the firm to provide offering investment management, retirement planning, estate planning, and alternative investments to clients across the country.
“This enables seasoned and new advisors to join our ranks, shaping customized investment strategies that genuinely prioritize clients’ best interests,” Freeman said. “At Wellington Wealth Strategies, we strive to ensure that the legacies of our clients and advisors endure for generations to come.”