Congress Wealth Management has acquired MainLine Private Wealth, a Wynnewood, Pa.–based RIA with approximately $1.1 billion of assets under management. Terms of the deal are not disclosed.
The acquisition represents the first add-on for Congress since Audax Private Equity completed a strategic investment in the firm in June. Prior to the investment, Congress had completed six acquisitions since 2019.
The addition of MainLine, which primarily serves high-net-worth and ultra-high-net-worth clients, now gives the combined firm a total of $6.7 billion of assets under management and eight offices as far south as Miami and as far west as Avila Beach, Calif.