United Capital Financial Advisers has purchased Westport Resources Management’s private client group for an undisclosed amount.
The company, which manages $373 million of assets tied to high-net-worth individuals, will be renamed Westport Resources and its founder John Vaccaro will become a United Capital managing director based in Westport.
“Joining United Capital immediately offers our advisers and clients a new set of digital financial tools that will help keep us relevant when communicating with and helping the next generation,” Vaccaro said.
Headquartered in Newport Beach, Calif., United Capital has about $16.8 billion of assets and centralizes the compliance, billing and information technology of the wealth management firms it buys. In addition to the new Westport operation, United Capital also maintains an office in South Norwalk.