Evermay Wealth Management Acquires Insight Wealth Management, Adding $73 million in AUM
Arlington, Va. —March 26, 2024— Evermay Wealth Management, a registered investment advisor (RIA) located outside of Washington, D.C., announced its acquisition of Insight Wealth Management, Inc., an RIA based in Gainesville, Va.
Effective December 30, 2023, Evermay acquired 100% of assets managed by Insight Wealth Management, which was owned and operated by Bob Pugh, CFA, CFP®. Bob joins Evermay as a Senior Wealth Advisor, bringing with him his wife, Elaine. Together, Bob and Elaine founded Insight Wealth Management and grew the firm over the years.
“We are pleased to welcome Bob and his clients to the Evermay family,” said Will Pitt, Evermay President and Co-Founder. “As the fifth acquisition in Evermay’s history, we always love when we identify partners who share our philosophy and values.”
Pugh brought $73 million in AUM to Evermay’s total AUM, now at $1.06 billion as of March 1, 2024. His goal was to find a firm that aligned with Insight Wealth management in terms of fee structure, business model, and commitment to being a fiduciary. Evermay checked the boxes for Pugh, and he also liked the firm’s leadership and personnel.
“Evermay places the same importance on professionalism and experience as we do, including more professionals who have earned their CFA and CFP designations than any other firm of comparable size that we considered,” Pugh explained. Pugh began his business in 2005 with a specific vision for size and scale.
“I did not want to grow a large business and need to deal with personnel,” he recalls. “However, I was committed to providing a solid succession plan to ensure that our clients are well taken care of and to create a path to retirement for ourselves.”
After speaking with many firms over the years, he found a good fit in Evermay. “They are a fee-only, fiduciary advisor offering our clients the same business model we use. Further, they stress personal, individualized service for clients, as we did.”
Pugh intends to work with the team at Evermay for two years before enjoying his retirement, knowing his clients are going to be in good hands. “We look forward to getting to know Bob’s clients over the next few years to ensure a smooth transition when he retires,” said Damon White, Evermay Chief Operating Officer and Co-Founder. “The acquisition illustrates how Evermay can support sole practitioners like Bob in their efforts to establish a succession plan.”
About Evermay Wealth Management
Evermay Wealth Management has $1.06 billion in AUM and serves clients in greater Washington, D.C., across Virginia, and beyond. As fiduciaries managing a fee-only model, Evermay is committed to serving clients and their families in a personalized and professional manner.
Evermay is actively seeking to grow through the acquisition of other firms with shared values in need of sales, partnership, or succession planning.
For more information, contact Will Pitt at 703-822-5696.