Long Run Wealth Advisors acquires Adirondack Asset Management

LAKE PLACID | Long Run Wealth Advisors, a comprehensive financial planning and investment-management firm located in Lake Placid, N.Y., recently acquired Adirondack Asset Management, a Lake Placid–based investment advisory firm with over $30 million in assets under management. Following the acquisition, Long Run, an SEC Registered Investment Advisor, now manages more than $350 million in client assets. Since partners Kevin Brady and Charlie Cowan founded Long Run Wealth Advisors in December 2015, the firm has grown geographically beyond the Adirondack Park and now serves clients in 25 states. Long Run acts as a fiduciary for a broad range of individuals — from people just starting out in their careers to high-net-worth individuals and business owners — as well as nonprofits, foundations, and other institutions. Adirondack Asset Management was previously owned by Greg Fetters, Doug Hoffman and Ashleah Mayberry. When the time came for Fetters to consider retirement, the trio focused succession planning on "finding investment managers who we believed would serve as fiduciaries to our long-term clients and would continue to help them achieve their financial goals," Fetters explained. Having worked with Brady on various nonprofit boards, Fetters and Hoffman approached Long Run's principals knowing they would be a good fit for their clients given Long Run's decades of collective experience in financial planning and global investment management. "We were excited when the opportunity came to further grow our local footprint through the acquisition of Adirondack Asset Management," Brady explained. "Long Run can expand on their advisory services and will bring additional resources to help them achieve their financial goals and objectives in the future." To help ensure a smooth client transition, Fetters is working as a consultant to Long Run; Lynn Magnus, Long Run's Director of Business Development, has teamed up with Fetters to help onboard the new clients. "Greg has worked with many of these clients for over 20 years, so our top priorities include getting to know each person and household, understanding their family dynamics, and learning about their life and financial goals while assessing their investment objectives and risk tolerance so that we can serve as fiduciaries to our clients," remarked Magnus. While Long Run Wealth has grown in scale, Brady and Cowan remain locally-minded: they pride themselves on being trusted fiduciaries to North Country residents, helping to create job opportunities through their own hiring and continuing to give back to the local community through various sponsorships of youth sports, arts, music, education, healthcare and environmental initiatives. Long Run Wealth Advisors, an SEC-registered investment advisor in Lake Placid, N.Y. Long Run's disclosure brochure is available upon request. This brochure was prepared for information purposes only and should not be construed as investment advice. Long Run Wealth Advisors are not attorneys or accountants. -This is a paid submission by Long Run Wealth Advisors

Signup for our newsletter

Long Run Wealth Advisors acquires Adirondack Asset Management

COMPANY

CUSTOMER SUPPORT

SUBMISSION FORMS

BEYOND THE NEWS