The Combination of the Three Advisory Practices Establishes a Major Fiduciary Advisor in the Retirement Plan Industry with over 90 Retirement Plan Clients
NEW YORK--(BUSINESS WIRE)--DB Root & Co. today announced two financial advisory teams are joining forces with the firm: R. Applegate & Associates, LLC and The Paul Abendroth Group. The three firms’ combined assets will total $5.2 billion in client assets with a team of 23 highly credentialed and experienced advisors.
Founder and CEO David B. Root said, “At DB Root, we are delighted to welcome R. Applegate & Associates, LLC and The Paul Abendroth Group and their teams to our firm. This truly furthers our vision to be one of the preeminent, independent retirement plan advisory firms within Pennsylvania and the broad Great Lakes Region of Michigan, Ohio and Indiana.”
R. Applegate & Associates, LLC provides comprehensive financial planning, investment management and consulting services to high net worth families and family offices, entrepreneurs, businesses and non-profits. Led by Richard R. Applegate, CFP, AIFA, CPFA, ChFC, CLU, the firm is also a leading adviser to retirement plan trustees and retirement plan committees. R. Applegate & Associates, LLC will remain an independent RIA over the next year with DB Root & Co. providing the firm with management and expanded support services.
According to Mr. Applegate, “DB Root & Co. has a strong and positive recognition in the Pittsburgh market. Dave has built a diversified team of highly credentialed advisors and staff which will translate into a support system through which we can better serve clients while also providing future continuity to our clients.”
Advisors Paul Abendroth and Ryan Borucki are leaving Rehmann Financial, a regional CPA firm, to join DB Root & Co. Based in Toledo, Ohio, they focus on both wealth management and 401(k) plans.
According to Mr. Abendroth, “We were impressed by the vision and structure of DB Root & Co. With this move, we anticipate leveraging our 401 (k) business and adding strength and investment solutions to our wealth management business.”
"At Dynasty, we are proud to partner with independent firms to power both organic growth and M&A including providing any necessary financing,” according to Shirl Penney, President and CEO of Dynasty Financial Partners. "With the addition of R. Applegate & Associates, LLC and The Paul Abendroth Group, Dave and his entire team expand significantly, increasing their footprint from the Great Lakes Region through central Pennsylvania. In addition, DB Root has immediately become a major presence in the retirement plan market.”
DB Root is a member of Dynasty Financial Partners' industry-leading platform of integrated wealth management services and technology. For more information, please visit www.dbroot.com.
About DB Root & Company
DB Root & Company, an independent Registered Investment Advisor (RIA), provides Wealth Management, Financial Planning and Investment Management to individuals, families and businesses. Financial advisors and their teams provide personal financial planning advice through the firm’s exclusive LifePlan 20/20® Financial Planning process, including retirement planning, estate planning, insurance, tax advice, education planning and other services. The firm also employs a repeatable Investment Management process known as Strategic AIM™.
We are partnering with Rick Applegate and his team from R. Applegate and Associates in Pittsburgh, PA and adding Paul Abendroth’s advisory team in Toledo, Ohio; establishing a regional presence throughout the Mid-Atlantic and Great Lakes regions. Both are a leading adviser to retirement plan trustees and retirement plan committees; making our combined firm responsible for advising 97 qualified retirement plans as well as private client assets totaling more than $5.2 Billion in assets under advisement. Our clients now have access to one of the most comprehensive Financial Planning, Asset Management and Qualified Retirement Plan Services available – supported by best in category strategic partners, Dynasty Financial Partners and Schwab Advisor Services.
Founded in 1994, the firm is headquartered in Downtown Pittsburgh. For more information, visit www.dbroot.com.
DB Root & Co.
Sally Cates, 212-373-1000