Sterne Agee subsidiary will acquire WRP firm

Staff report

YOUNGSTOWN

A subsidiary of financial- services giant Sterne Agee on Thursday announced it will acquire the Youngstown-based financial firm WRP Investments Inc.

WRP, an independent advisory firm with more than 350 advisers to clients mostly in the Midwest and Northeast, will become part of the Sterne Agee network, the companies said in a news release.

WRP said the merger would provide the firm with additional resources, research and support.

“We really felt a connection with the Sterne Agee team from the very beginning. Combining forces with them allows us to offer state-of-the-art technology and industry-leading services to the people we serve, while allowing WRP to remain WRP,” David Pintaric, CEO of WRP, said in a statement.

“This was one of those special opportunities where all parties are better served and better positioned for the future. Not only will this be a great addition to Sterne Agee but also a win for the Pintaric family, the WRP family and, most importantly, the clients we will serve together,” added Jay Carter, CEO of Sterne Agee Financial Services Inc.

Founded in 1901, Birmingham, Ala.-based Sterne Agee manages more than $23 billion in client assets, and employs more than 1,600 financial professionals in 70 offices across 20 states through its wholly owned subsidiaries.

Sterne Agee is the trade name used by certain affiliates of Sterne Agee Group, Inc.