Newport Beach-based United Capital Financial Advisers, LLC has acquired on undisclosed terms the private client group of Westport Resources Management in Westport, Conn.
The acquisition will add $373 million to United Capital’s assets under management.
Westport Resources provides wealth management services to 220 individuals, municipalities and nonprofits in the northeast U.S.
The renamed Westport Resources Investment Services will become a division of United Capital and its chief executive, John Vaccaro, will be a managing director of the parent company.
United Capital is a subsidiary of United Capital Financial Partners, Inc., manages $16.8 billion in assets and employs 528 companywide.