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WFG Capital Advisors Announces that National Penn
Capital Advisors, Inc. Acquires RESOURCES for Retirement,
Inc.
Leading 401(k) Firm to Help National Penn
Expand into 'Large Plan' Market
HARRISBURG, PA – April
12, 2006 – WFG Capital Advisors announces that National
Penn Capital Advisors, Inc., a subsidiary of National Penn
Bank, has acquired RESOURCES for Retirement, Inc.
(RESOURCES), a retirement plan investment advisory firm
based in Newtown, Pa. The acquisition, the price of which
was not disclosed, will allow National Penn Capital Advisors
to significantly expand its 401(k) business to larger
companies, an area in which RESOURCES for Retirement excels.
RESOURCES for Retirement
is one of the top 20 plan advisors in the country, and its
staff includes some of most highly regarded leaders in the
401(k) field. RESOURCES president and founder, Trisha
Brambley, is considered a pioneer in the development of
401(k) plans and is listed in Plan Sponsor Magazine as one
of the most successful advisors in the country.
WFG Capital Advisors LP of
Harrisburg, Pennsylvania served as exclusive financial
advisor to RESOURCES for Retirement, Inc.
"RESOURCES for Retirement
has a reputation for providing superior service and results
for businesses and organizations across the country," said
E. Vaughn Landes, senior vice president of National Penn
Capital Advisors, which provides investment advisory and
retirement planning services for individuals and businesses.
"Just as we will benefit from their expertise as one of the
best 401(k) consulting firms in the country, RESOURCES'
clients will now have access to National Penn's wide range
of wealth management and banking services."
According to Brambley, "We
believe there is a growing need to develop and deliver
solutions that help plan participants manage their assets
throughout their retirement. The wealth management expertise
of National Penn will certainly complement the plan
expertise that RESOURCES is known for."
After the acquisition,
RESOURCES for Retirement will retain its name and current
leadership team while operating as a division of National
Penn Capital Advisors, Inc. RESOURCES for Retirement is a
national firm headquartered in Newtown, Pa. RESOURCES
provides services to plan sponsors who are looking for
independent plan advisors. The company offers a full range
of support including a fiduciary documentation process,
investor education strategies, statistics for benchmarking
plan practices, and retirement plan consulting.
National Penn Bancshares,
Inc. (Nasdaq:
NPBC) is a
financial services company with $4.95 billion in assets
operating 78 offices in Pennsylvania through National Penn
Bank, as well as through the
FirstService Bank,
HomeTowne Heritage
Bank, Nittany
Bank and The Peoples Bank of Oxford divisions of National
Penn Bank. The Peoples Bank of Oxford Division also operates
one community office in Cecil County, Maryland. National
Penn's investment management units, with combined client
assets of approximately $2 billion, consist of National Penn
Investors Trust Company, which provides trust and investment
management services; National Penn Investment Services,
which markets brokerage services provided by
PrimeVest Financial
Services, Inc.; National Penn Capital Advisors, Inc., which
provides investment advisory services; and Vantage
Investment Advisors, LLC, which provides fee-based
investment management services. National Penn also provides
mortgage banking activities through National Penn Mortgage
Company; insurance services through National Penn Insurance
Agency, Inc.; and equipment leasing services through
National Penn Leasing Company. National Penn Bancshares,
Inc. common stock is traded on the
Nasdaq Stock Market under the symbol "NPBC."
About WFG Capital
Advisors LP
WFG Capital Advisors, a PA-based investment banking firm
specializing in the insurance industry, served as the
exclusive financial advisor to RESOURCES for Retirement,
Inc.
Media Contacts:
Robert J. Lieblein,
President & CEO
(717) 780-7801 /
rlieblein@wfgca.com
Steven S. Wevodau,
Managing Principal
(717) 780-7802 /
swevodau@wfgca.com
www.wfgca.com
