Armbruster Capital Acquired $60 Million in RDG Accounts
The firm expanded its Rochester-area presence by absorbing client accounts from Pittsford-based RDG Capital Management.
Updated on Oct. 8, 2026 in Financial Planning
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Armbruster Capital Management has acquired $60 million in client assets from RDG Capital Management. The transaction follows a three-year sub-advisory partnership between the two wealth management firms.
Why it matters
The deal allows Armbruster Capital to strengthen its footprint in the Greater Rochester wealth management market. Meanwhile, RDG Capital Management owners Whitney Baniewicz and Kate Kenny are shifting their business focus to provide family office services.
Armbruster Capital now manages over $1 billion in total assets after this acquisition. The firm currently serves a client base spanning 28 states and Washington, D.C.
The players
Armbruster Capital Management
This wealth management firm serves clients across 28 states and recently exceeded $1 billion in total assets under management.
RDG Capital Management
Based in Pittsford, this firm is pivoting its business strategy to focus on providing family office services to larger clients.
Whitney Baniewicz
She is an owner of RDG Capital Management who is transitioning her firm toward a family office business model.
Kate Kenny
She serves as an owner of RDG Capital Management alongside Whitney Baniewicz.
The details
Armbruster Capital has assumed primary advisory responsibilities for the transferred accounts after previously serving as a sub-advisor. The firm intends to increase its local workforce in the Rochester region as it integrates these new clients.
Timeline
Armbruster Capital Management was founded in 2009.
The firm surpassed $1 billion in assets under management in 2025.
The acquisition transaction was officially announced on October 8, 2026.
Market Landscape
This acquisition reflects a broader industry trend where independent wealth management firms consolidate assets to achieve greater scale. The move positions Armbruster Capital to leverage its increased size against regional competitors while narrowing the service focus of its partner firm.
Clients affected by the transition will see Armbruster Capital take over primary advisory duties for their accounts. Existing customers should expect new communications regarding their service representatives and account management procedures.
The takeaway
Smaller wealth management firms often refine their service models by divesting general advisory accounts to larger, specialized partners. Investors should ensure they understand how changes in their advisor's firm focus impact their long-term financial strategy.
Further reading
For additional context on local industry shifts, visit the Financial Planning section.
Source note: This article includes information reported by Rochester Business Journal.
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