West Conshohocken, PA, July 30, 2019 — Boenning & Scattergood, Inc., a leading independent securities, asset management and investment banking firm founded in 1914, is pleased to announce that the entire team at Sweney Cartwright & Co., a Columbus, Ohio based broker-dealer, will be joining the firm beginning August 2019. As a result, all Sweney Cartwright financial advisors and associates are expected to become part of Boenning & Scattergood bringing with them approximately $700 million of assets under control.
Boenning & Scattergood and Sweney Cartwright have much in common. Both firms have longstanding traditions of independence and an unwavering commitment to client service that has helped clients navigate through various market cycles over the years. It is a result of the many similarities that the team at Sweney Cartwright chose to join Boenning & Scattergood.
“We are extremely pleased that the Sweney Cartwright team has chosen to join us and we believe our corporate culture is very compatible with theirs,” commented Harold F. Scattergood, Jr., Chairman and CEO of Boenning & Scattergood. “We are confident the clients and employees of Sweney Cartwright will find it a seamless transition and the clients will continue to be very well-served by the same professionals with whom they have enjoyed a long and mutually beneficial relationship.”
“We did not make this decision lightly,” added Stephen Cartwright, Chairman of the Board at Sweney Cartwright & Co. “We are proud of our heritage which dates to our founding in 1933 and we wanted to find the right fit so that our employees, associates and clients would be well-served into the future. We considered other firms with which to join but believe the long-term fit with Boenning & Scattergood is best for us and our clients.”
With new additional resources available to them, the Sweney Cartwright team will have the ability to deepen client relationships and leverage the robust suite of products and services offered through Boenning & Scattergood. Both firms have deep roots in municipal bond trading and underwriting as well as market making in community bank stocks, which creates a unique opportunity to leverage expertise and extensive relationships across various business lines for accretive growth.
“We look forward to working with the very talented team at Sweney Cartwright,” added Michael Mara, President of Boenning & Scattergood. “We have a successful investment banking and public finance presence in Ohio and as we extend our retail footprint and begin measured, but meaningful, growth in our private client group / wealth management business, their addition is an ideal complement to our strategic focus.”
“Just like our friends at Boenning & Scattergood, we value the relationships that have been built with our clients over many decades,” commented Frank Ingwersen, President of Sweney Cartwright. “We believe that this combination will have numerous benefits for our clients and our employees, including access to additional municipal bond offerings, where Boenning has a presence in our region.”
About Boenning & Scattergood, Inc.
Established in 1914, Boenning & Scattergood is one of the oldest independent securities, asset management and investment banking firms in the Mid-Atlantic, Midwest and Northeast Regions. Professionals at the firm provide individual investors, corporate and municipal clients and institutions a full complement of financial services, including retail brokerage, wealth management, equity research, equity and fixed income sales and trading, investment banking, public finance, equity option strategy and asset management. For more information, please visit www.boenninginc.com. Member FINRA / SIPC.
About Sweney Cartwright & Co.
Sweney Cartwright is a broker-dealer based in Columbus, Ohio. The origins of Sweney Cartwright date back to the Glass Steagall Act in 1933, when the founder of the firm purchased the assets of Huntington Securities, which was required to be divested from Huntington National Bank. Sweney Cartwright’s professionals specialize in tax-free municipal bonds, stocks, mutual funds and general brokerage investment advice. The firm’s core philosophy is to deliver personalized investment services and critical advice tailored to the client’s financial situation. The firm also acts as a market maker in more than 20 bank stocks. For more information, please visit www.swencart.com. Member FINRA / SIPC.