Fort Washington Investment Advisors has agreed to acquire the investment advisory business of the Sena Group. The deal is expected to bring nearly $1 billion in new assets into Fort Washington’s wealth management group, which currently has around $31 billion in assets under management.
Fort Washington Investment Advisors, Inc. (Fort Washington) announced today a definitive agreement to acquire the investment advisory business of the Sena Group (Bill Sena, Sr., Bill Creviston, Jeremy Moore, Bill Sena, Jr. and Mark Johnson) from Sena Weller Rohs Williams, LLC. The move is expected to increase Fort Washington’s overall assets under management to approximately $32 billion and bring nearly $1 billion in new assets into its wealth management group when the transaction closes in early 2010.
“The Sena Group brings a high level of seasoned guidance and unwavering client focus to the Fort Washington wealth management team,” said Maribeth S. Rahe, Fort Washington’s president and chief executive officer. “Our firms share a common set of values with clients at the core. Together, we look forward to continuing that tradition of trust by remaining focused on client needs and delivering them sustainable results for years to come.”
Sena Weller Rohs Williams (SWRW) will be led by professionals David Osborn, Mike Rohs, Peter Williams, Ed Donohoe and Bill Higgins. The firm will remain independent and will continue to serve its clients with the same personalized investment advisory services that have long been the firm’s hallmark.
Sena Group managers along with several support associates have been offered the opportunity to join Fort Washington’s wealth management team to continue to serve their clients. “The Sena Group has been offering clients portfolio management and financial planning services with a high level of personalized attention since founded by its predecessor firms in 1901,” said Bill Sena, chairman of Sena Weller Rohs Williams. “This transaction allows our team to continue doing what they do best in an environment that leverages the legacy of financial strength and industry leadership of Western & Southern Financial Group.”
“This is a natural evolution for Sena Weller Rohs Williams as we further distinguish ourselves among wealth management firms through a very personalized approach to portfolio management,” said David Osborn of SWRW. “We wish our Sena Group colleagues continued success as part of Fort Washington.”
With the addition of the Sena Group business, Fort Washington’s wealth management team is expected to grow to 13 investment and support professionals with an average of more than 20 years experience in the wealth management industry. Sena Group clients will have access to a wide range of investment strategies from Fort Washington, including fixed income, public equity and private equity.
Fort Washington and the Sena Group are working closely together to assess operations, identify synergies and finalize due diligence to ensure a smooth transition of investment responsibility from Sena Weller Rohs Williams, LLC to Fort Washington. Closing is expected in early 2010 and is subject to typical conditions and contingencies.
About Sena Weller Rohs Williams, LLC
Sena Weller Rohs Williams is a registered investment advisor serving institutions and high net worth individuals throughout the United States. It is based in Cincinnati, Ohio.
About Fort Washington Investment Advisors, Inc.
Fort Washington Investment Advisors, Inc. (Fort Washington), founded in May 1990, is the money management and primary investment arm of Western & Southern Financial Group with more than $29.2 billion in assets.* Fort Washington is a registered investment advisor with expertise in Fixed Income, Public Equity and Private Equity. Clients include institutions and high-net-worth individuals throughout the country. For more information, visit FortWashington.com.
*As of 9/30/09, does not include Fort Washington Capital Partners Group, the private equity division of Fort Washington Investment Advisors, Inc., with approximately $1.8 billion in commitments under management. Included within this $1.8 billion is $150 million of assets under management and/or advisement by Peppertree Partners, LLC, a wholly owned subsidiary.
About Western & Southern Financial Group
Western & Southern Financial Group (Western & Southern), a Fortune 500 company, is a Cincinnati-based diversified family of financial services companies with assets owned, managed and under our care in excess of $43 billion as of Sept. 30, 2009. Based on Standard & Poor’s ratings, Western & Southern is one of the nine strongest life insurance groups in the world. For more information, visit www.westernsouthern.com. Western & Southern is the title sponsor of the Western & Southern Financial Group Masters and Women’s Open tennis tournaments.