OLNEY, Md., Feb. 03, 2020 (GLOBE NEWSWIRE) -- Sandy Spring Bancorp, Inc. (Nasdaq: SASR), the parent company of Sandy Spring Bank, announced today that it completed the acquisition of Rembert Pendleton Jackson (RPJ), a financial planning and investment advisory firm located in Falls Church, Virginia.
"The reputation, culture and long-tenured staff of Rembert Pendleton Jackson complement our organization and expand the wealth management services we can offer our clients," according to Lou Caceres, Executive Vice President of Sandy Spring Bank.
RPJ will continue to operate under the name, Rembert Pendleton Jackson, and Charles E. Rembert, CFP®, AIF®, Principal, will lead the company as Chairman and CEO, and will report to Caceres at Sandy Spring Bank.
“Like RPJ, Sandy Spring Bank has an impressive track record and a long history of strong performance in the Greater Washington region. This partnership is a win-win for our clients and community,” said Rembert. “Our highest priority has been, and will continue to be, to provide fee-only investment advisory and financial planning services to our clients. This relationship will allow these services to continue.”
RPJ was founded in 1974 and currently has more than $1.3 billion in assets under management (AUM). The combined AUM under Sandy Spring Bank’s wealth management arms is now approximately $4.5 billion. The transaction was first announced on November 6, 2019. Sandy Spring was advised on the transaction by Raymond James | Silver Lane Advisors.
About Sandy Spring Bancorp, Inc./Sandy Spring Bank
Sandy Spring Bancorp, Inc., headquartered in Olney, Maryland, is the holding company for Sandy Spring Bank, a premier community bank in the Greater Washington, D.C. region. With over 50 locations, the bank offers a broad range of commercial and retail banking, mortgage, private banking, and trust services throughout Maryland, Northern Virginia, and Washington, D.C. Through its subsidiaries, Rembert Pendleton Jackson, Sandy Spring Insurance Corporation and West Financial Services, Inc., Sandy Spring Bank also offers a comprehensive menu of insurance and wealth management services.
