Missouri-based Plancorp has acquired Fresno-based Regency Investment Advisors. Adobe stock image, photo composite by Israel Meave

Missouri-based Plancorp Wealth Management has acquired Regency Investment Advisors Inc., a Fresno-based independent registered investment advisor, the firms announced March 31.

The deal is Plancorp’s first large-scale acquisition in its 43-year history. It adds roughly $1 billion in client assets and 16 professionals to the St. Louis-based firm, bringing Plancorp’s total assets under management to approximately $9.6 billion across more than 100 employees.

Regency, founded in 1993, will be fully integrated into Plancorp’s brand, systems and operations — a departure from the partial-integration model common in registered investment advisor consolidation deals, according to a news release.

“After over 30 years as an independent firm, joining forces with Plancorp allows us to enhance our clients’ experience without changing our values,” said Tony Fazio, Regency’s CEO.

Fazio now serves as regional director of wealth management for Plancorp. 

Plancorp President and CEO Chris Kerckhoff said the acquisition is the first move in a selective national growth strategy. “This partnership isn’t about getting bigger for its own sake; it’s about growing better together,” he said.

The firm said it intends to pursue additional acquisitions but is not seeking to become a high-volume consolidator. Derek Hartley, Plancorp’s chief growth officer, said the firm’s majority employee-owned structure gives it flexibility that private equity-backed competitors lack.

“Consolidation is reshaping the industry, but in a competitive landscape often shaped by short-term private equity, we’re taking a different path,” Hartley said.

Plancorp is a fee-only fiduciary firm founded in 1983 and serves clients in 44 states.