ENDWELL — Visions Investment Services (VIS), the wealth management arm of Visions Federal Credit Union (FCU), announced it has acquired the Glen Wood Financial Group, Inc. The transaction closed on Dec. 31, Mandy DeHate, associate VP of marketing at Visions FCU, tells CNYBJ in an email. The acquisition comes as Glen Wood prepared for retirement, […]
ENDWELL — Visions Investment Services (VIS), the wealth management arm of Visions Federal Credit Union (FCU), announced it has acquired the Glen Wood Financial Group, Inc.
The transaction closed on Dec. 31, Mandy DeHate, associate VP of marketing at Visions FCU, tells CNYBJ in an email.
The acquisition comes as Glen Wood prepared for retirement, also on Dec. 31, according to DeHate. VIS didn’t release any financial terms of its acquisition agreement.
The Glen Wood firm, which has offices in both Chenango and Ithaca, is now operating as Visions Investment Services, says DeHate. Those offices are located at the Chenango Commons Golf Course in Chenango and in the Gateway Plaza in Ithaca.
In the deal, VIS retained one employee, who works at the Chenango office. Sessions at the Ithaca location are by appointment only, says DeHate. She also notes that Visions has two wealth-management advisors, Richard Barber and Kevin Porter, working from both offices.
“We’re committed to being our member’s financial partner and serving them at every stage of life” Ty Muse, president & CEO of Visions FCU, said in a news release. “This acquisition made strategic sense and will only strengthen Visions Investment Service’s ability to serve our members financial needs. We thank Glen for entrusting us with his clients and wish him the very best in his retirement.”
Visions FCU described the acquired company as a “well recognized and trusted financial firm in the area.” The Glen Wood Financial Group, Inc. was founded in 2002.
“After a great deal of research and comparison, I decided to partner with Visions Investment Services. Having spent a great deal of time working with VIS in preparation for my retirement, they have become decidedly familiar with the level of professionalism, knowledge and support my clients have grown to expect. I’m confident our clients will be in very good hands,” Glen Wood, president of the Glen Wood Financial Group, Inc., said in a statement.