MillRiver Wealth Management of Concord signed an agreement to purchase The New Hampshire Trust Company, based in Keene. At the same time, the Savings Bank of Walpole’s SBW Wealth Management division will join the organization. Later this year, the unified company plans to change its name to New Hampshire Trust & Wealth Management.
Through this affiliation, three of the Granite State’s financial service providers will be in a position to optimize the strengths of each organization, serving customers with leading-edge advice, enhanced technology and a continue to focus on local, personal service in communities throughout the state.
MillRiver Wealth Management and SBW Wealth Management are already affiliated as the locally-focused investment and wealth management divisions of New Hampshire Mutual Bancorp (NHMB), along with NHMB’s independently managed mutual banks: Meredith Village Savings Bank, Merrimack County Savings Bank and Savings Bank of Walpole.
Under the new affiliation, existing staff at the three companies will remain with NH Trust & Wealth Management, working in their current locations. Paul Provost, currently president of MillRiver Wealth Management, will retain that title with the newly named firm.
“One of the benefits of this alliance is the ability to tap into the leadership and expertise that Paul brings to our organization as a visionary, customer-focused investment professional,” says Gregg Tewksbury, president and CEO of NH Mutual Bancorp.
Greg McConahey and Mike Rafferty, co-presidents of NH Trust Company, added that they personally share a strong, mutual respect and trust with leaders at MillRiver Wealth Management and SBW Wealth Management. “Our organizations enjoy similar corporate structures and cultures, with complementary market areas and a fundamental commitment to delivering high-quality, local, personal customer service,” says McConahey. Rafferty says, “Based on the people behind New Hampshire Mutual Bancorp, and on their steadfast commitment to local, mutual banking values, we see this affiliation as a tremendous way to enhance the services we can provide – and to ensure long-term stability for our customers, our staff and our communities.”
The relationship will become effective upon final regulatory approval, which is expected in January.
Pictured: Celebrating the affiliation of their trust and wealth management companies are from left, Greg McConahey and Rhonda Stephens of The NH Trust Company, Gregg Tewksbury, president and CEO of NH Mutual Bancorp, Mike Rafferty of The NH Trust Company, Paul Provost, president of MillRiver Wealth Management, and Mark Bodin, president of Savings Bank of Walpole.