John Vaccaro: named United Capital managing director. Contributed photo
The private client group of Westport-based Westport Resources Management, headed by John Vaccaro, has been acquired by United Capital Financial Advisors LLC, it was announced today.
No amount was given for the acquisition by United Capital, which is based in Newport Beach, Calif. The group will be renamed Westport Resources, a division of United Capital. Westport Resources manages $373 million of assets tied to high-net-worth individuals
United Capital has about $16.8 billion of assets and centralizes the compliance, billing and information technology of the wealth management firms it buys. In addition to the new Westport operation, United Capital also maintains an office in South Norwalk.
Vaccaro, 71, the firm’s CEO and founder, has joined United Capital as a managing director, an announcement said.
Vaccaro founded Westport Resources in 1986 after a career in theater, where he was the founding administrator of New York City’s 42nd Street Theater Row, one of the earliest efforts to revitalize Manhattan’s theater district.
“Joining United Capital immediately offers our advisers and clients a new set of digital financial tools that will help keep us relevant when communicating with and helping the next generation,” Vaccaro said in a statement.
In conjunction with the acquisition, Westport Resources Investment Services, an affiliate of Westport Resources, will continue to operate as a separate entity.
