PFM Financial Advisors LLC, the biggest financial advisor, moved to expand its government and non-profit practice in Illinois, New York and Connecticut with the acquisition of A.C. Advisory Inc.
Adela Cepeda, founder of A.C. Advisory, will join PFM as a managing director, PFM said in a press release received on Tuesday. Cepeda has been a finance specialist since 1980, structuring and executing transactions in the capital markets for corporations and municipalities. As president of A.C. Advisory, she has guided the company to a leadership position in Illinois and New York, PFM said.
"A.C. Advisory consistently ranks amongst the top financial advisors in the nation. This is in no small way due to Adela's leadership and commitment to her clients, and we look forward to her joining the leadership team of PFM," said John H. Bonow, managing director and CEO of Philadelphia-based PFM. "This acquisition enables us to bring an expanded range of financial services to a wider range of clients."
Since its inception in 1995, A.C. Advisory has completed in excess of $130 billion of municipal financings ranging from general obligations, revenue, transportation, education, water and sewer transactions for state, city and local level issuers. The firm, with offices in New York and Chicago, has advised on $15 billion of transportation financings, $10 billion of educational related bonds and over $100 billion of general municipal financings.
"PFM is a firm that is full of highly experienced professionals that work tirelessly for their clients," Cepeda said. "This is the same foundation upon which A.C. Advisory was built, and I look forward to continuing that level of service combined with the talents and resources of PFM personnel in Chicago, New York and nationwide for our clients."
Additionally, two top A.C. Advisory executives serving the New York and Philadelphia regions will be joining PFM.
