The firms said that criteria for the deal included finding a fit for Rhoads Lucca’s traditional RIA active and retired pilot clients as well as for 401(k) accounts it managed.

The combined firms serve commercial pilots from Southwest, United, Delta, US Airways/American and FedEx, among others, in 45 states.

“This merger is a solution for the Rhoads Lucca succession planning because the combined firm has more resources for client solutions and delivery of those solutions,” Steve Anglin, managing partner of Smith Anglin, told Family Wealth Report. 

“The combined firm has a wider range of leadership across the age spectrum. Whenever John Rhoads pre-retirement, with planning and leading up to it, then we manage their financial lives when they enter retirement.” 

The deal brings the combined AuM of the RIA to about $500 million.