Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Fantastic 50
    • Generous Virginians Project
    • Legal Elite
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Advertisement

Header Primary Menu

  • Issues
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    • November 2020
    • Issues Archive
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Fantastic 50
    • Generous Virginians Project
    • Legal Elite
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Home News Industries Banking/Finances Private equity firm to acquire Wealthcare Capital Management

Private equity firm to acquire Wealthcare Capital Management

Published November 14, 2013 by Robert Powell, III

Richmond-based Wealthcare Capital Management Inc., a wealth management technology and advisory services firm, is being bought by NewSpring Holdings LLC, a Pennsylvania-based private equity investment company.

David B. Loeper, the founder, chairman and CEO of Wealthcare, will retire from Wealthcare.

Len Reinhart will become the executive chairman of the company, and Michael Ashker will become CEO.

After completion of the NewSpring deal, expected to take place in December, Wealthcare will continue to operate from existing headquarters in Richmond.

Wealthcare operates a technology licensing business serving the clients of more than 30,000 financial advisors.

The company also acts as a registered investment advisor overseeing more than $800 million in assets under management for clients in 35 states through its network of financial advisers or third-party financial advisory firms.

Reinhart was the president of Smith Barney’s Consulting Group, the founder and CEO of the Lockwood family of companies and subsequently became the CEO of Pershing Managed Account Solutions, a division of Bank of New York Mellon. He has served as a Wealthcare board member.

Ashker founded and was CEO of Healthaxis, the first digital insurance agency. He also was co-founder of an electronic legal filing system known as JusticeLink, which was sold to Lexis Nexis. He has a 15-year history working in the financial services industry.

Related Stories

Virginia Business logo

Matrix Capital Markets opens Chicago office

Virginia Business logo

Capital One completes sale of Best Buy credit-card accounts

Virginia Business logo

Capital One honored by National Gay & Lesbian Chamber of Commerce

Trending

Norfolk’s MacArthur Center may meet the wrecking ball

Heavy hitters

Virginia State Capitol. Photo by Conor Lobb, VCU Capital News Service

UPDATED: Va. becomes 2nd state with consumer data protection law

The Virginia Executive Mansion will be occupied by a new (or possibly returning) governor in January 2022. Photo by Kira Jenkins

Election 2021: Who’s running for governor?

University of Richmond names new president

Sponsored Stories

Supply Chains After a Year of Disruptions

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

The Hottest Topic in 2021: Keeping People Connected

Advertisement

Advertisement

Trending

Norfolk’s MacArthur Center may meet the wrecking ball

Heavy hitters

Virginia State Capitol. Photo by Conor Lobb, VCU Capital News Service

UPDATED: Va. becomes 2nd state with consumer data protection law

The Virginia Executive Mansion will be occupied by a new (or possibly returning) governor in January 2022. Photo by Kira Jenkins

Election 2021: Who’s running for governor?

University of Richmond names new president

Sponsored Stories

Supply Chains After a Year of Disruptions

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

The Hottest Topic in 2021: Keeping People Connected

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2021 Virginia Business. All rights reserved.

Site Maintained by TechArk