With its wealthy entrepreneurs and real estate executives, the Philadelphia area is a potentially lucrative market for large independent wealth management firms. So it’s no surprise that Bethesda, Md.-based Highline Wealth Management, hired Gary Sobelman as a managing director to run its satellite office in Plymouth Meeting, Pa.

Sobelman, who was a regional director at Rockville, Md.-based Convergent Wealth Advisors, said the wealth management business in Philadelphia, like the industry at large, is very fragmented. There are hundreds of managers in and around the City of Brotherly Love, but most are one- or two-man businesses with assets under management of around $25 million.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access