LANCASTER, Pa.--(BUSINESS WIRE)--Fulton Bank, N.A., a subsidiary of Fulton Financial Corporation (NASDAQ: FULT) based in Lancaster, PA, today announced that it has purchased the wealth management business formerly conducted by APS Wealth Management in Camp Hill, PA. The transaction was completed on October 4, 2019. The terms of the agreement have not been disclosed.
APS Wealth Management, which was established by Mike Chwastyk in 1994, had approximately $67 million in assets under management or administration at the time the sale to Fulton was completed. Fulton Bank, N.A., has approximately $11 billion in assets under management or administration through its wealth management division, Fulton Financial Advisors.
“Our purchase of APS Wealth Management is enabling Fulton to enhance our outreach to clients in central Pennsylvania,” said Curtis J. Myers, president and COO of Fulton Financial Corporation. “For 25 years, Mike Chwastyk and his team have built a strong client base by delivering highly personalized financial solutions. We’re delighted to unite to create a winning combination of outstanding service, solid reputation and world-class products, supported by our continued relationship with Raymond James.”
Fulton Financial Advisors operates through Fulton Bank, N.A. The advisors at Fulton Financial Advisors offer a broad array of financial products and trust and retirement services, some of which are provided through ValMark Securities, Inc., and/or Raymond James Financial Services, Inc., independent and unaffiliated registered broker/dealers, Members FINRA/SIPC; and/or Executive Insurance Agency, Inc., and/or Specific Solutions, Inc., unaffiliated licensed insurance agencies; Investment advisory services offered through Raymond James Financial Services Advisors, Inc. and/or ValMark Advisers, Inc., unaffiliated investment advisory firms registered with the SEC.
Raymond James Financial Services, Inc. is not affiliated with Specific Solutions, Inc., Executive Insurance Agency, Inc., ValMark Securities, Inc., ValMark Advisers, Inc., Fulton Financial Advisors, Fulton Bank, N.A., Fulton Financial Corporation or any of its subsidiaries. Neither ValMark Securities, Inc., ValMark Advisers, Inc. nor Executive Insurance Agency, Inc. is affiliated with Specific Solutions, Inc., Fulton Financial Advisors, Fulton Bank, N.A., Fulton Financial Corporation or any of its subsidiaries.
Securities and Insurance products are not a deposit or other obligation of, or guaranteed by the bank or any affiliate of the bank; are not insured by the FDIC or any other state or federal government agency, the bank or an affiliate of the bank; and are subject to investment risk, including the possible loss of value.
APS Wealth Management was not a registered broker/dealer and was independent of Raymond James Financial Services, Inc.