What's Happening?
Washington Trust Advisors, Inc., a subsidiary of The Washington Trust Company, has finalized the acquisition of Lighthouse Financial Management, LLC, a Westerly-based advisory firm. The transaction, completed on July 31, 2025, involves Lighthouse Financial's team joining Washington Trust Wealth Management. Lighthouse Financial, established by Stephen C. Poplaski in 2003, manages assets valued at approximately $190 million and offers investment, tax, and retirement planning services. The acquisition aims to bolster Washington Trust's wealth management division, enhancing client-focused services with expanded expertise in tax and business planning. Key personnel from Lighthouse Financial, including Vice President Aaron Wade and Wealth Associate Larry Henderson, will integrate into Washington Trust's team.
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Why It's Important?
This acquisition is significant for Washington Trust as it strengthens its position in the wealth management sector, expanding its capabilities and client base. By integrating Lighthouse Financial's expertise, Washington Trust can offer more comprehensive financial solutions, potentially increasing its market share in the Northeast. The move reflects a strategic focus on growth and client service enhancement, which could lead to increased competitiveness in the financial advisory industry. Clients of both firms stand to benefit from improved resources and personalized financial planning services, potentially leading to better financial outcomes.
What's Next?
Following the acquisition, Washington Trust Wealth Management plans to leverage its expanded team and recent investments in technology to enhance client service experiences. The integration of Lighthouse Financial's personnel and expertise is expected to facilitate smoother transitions for clients and broaden the scope of services offered. Washington Trust may continue to pursue similar strategic acquisitions to further strengthen its market position and service offerings.
