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Kentucky RIA Adds Ohio-Based Wealth Mgmt Practice to Form $550M Firm

By Alex Padalka November 23, 2020

Journey Advisory Group says it has acquired another wealth management practice, merged three businesses and hired three finance executives for its new operations.

The addition involves Blue Ash, Ohio-based Torch Wealth Management, Covington, Ky.-based JAG says. Torch managed $265 million for 371 accounts, according to its latest Form ADV.

The companies didn’t disclose the financial terms of the deal.

JAG also named Mike Whelan its new chief financial officer, Eric Pettway as the firm’s new chief investment officer and Ed Haberer, Torch’s founder, as JAG’s lead client advisor.

Whelan joins JAG from Crossroads Church, where he was CFO, JAG says. Pettway joined JAG in August from PNC, where he had served in various roles since 2009, according to LinkedIn.

Haberer is the founder of Torch as well as Haberer Investment Management, JAG says.

JAG now has more than 20 employees overseeing more than $550 million out of offices in Ohio, Kentucky, Texas and California, the company says. JAG offers financial planning and investment management, as well as tax, estate, retirement, insurance and business succession planning.

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