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Pioneer Expands Wealth Management Division, Exceeds $1B in Assets Under Management, With Acquisition of Hudson Financial LLC



Albany, NY – Pioneer, a leading financial institution in New York’s Capital Region, today announced it has acquired Hudson Financial LLC, an independent advisory firm based in Hudson, NY. Through this expansion, Pioneer’s Wealth Management division increases its portfolio of assets under management to more than $1 billion, gains proven financial expertise, and broadens the recognition of Pioneer as “More Than a Bank.”

This acquisition further accelerates the rapid growth of Pioneer Wealth Management, with assets under management rising sharply from $30 million in 2015 to now exceed $1 billion. With a portfolio that includes $225 million in assets, Hudson Financial has provided investment management and strategic wealth planning services for individuals, families and businesses for more than
15 years.

“Pioneer is committed to providing a wide range of seamless, integrated products and services under one roof that enable people, families, and businesses to achieve their financial goals,” said Pioneer President and CEO Tom Amell. “The smart and sustained growth of Pioneer Wealth Management, enhanced by the addition of respected, successful and like-minded institution Hudson Financial, represents further momentum in our mission of being ‘More Than a Bank.’”

“We are thrilled to join an organization firmly focused on serving the best interests of its clients and community,” said James Armstrong, Managing Partner of Hudson Financial. “I’m energized by Pioneer’s resolute commitment to long-term support and stewardship, and excited to give clients access to a broader suite of proactive financial solutions that put them on the path to financial independence.”

As part of Pioneer Wealth Management, Hudson Financial will retain its employees, maintain its office in Hudson, and continue to utilize LPL Financial, the nation’s largest independent broker-dealer. The firm will now be known as Hudson Financial, a subdivision of Pioneer Wealth Management.

“We are delighted to welcome the outstanding professionals at Hudson Financial to our exceptional team at Pioneer Wealth Management,” said Joseph Geis, Vice President of Pioneer Wealth Management. “With demonstrated expertise in financial services, a strong commitment to its clients, and a steadfast focus on integrity, Hudson Financial is perfectly aligned with Pioneer’s core values. They will be a tremendous partner as Pioneer Wealth Management continues its rapid growth.”

As a subdivision of Pioneer Wealth Management, Hudson Financial will reinforce and expand its capabilities in its core areas of expertise: investment management, including asset allocation, income strategies and tax-advantaged investments; retirement planning, including pre-retirement savings plans, retirement plan evaluation and retirement income planning; college planning, including education savings strategies and 529 plans; and estate planning, including asset and wealth transfer, and beneficiary review.

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