Rafalko Investment Advisory founder Celia Rafalko has bought Piedmont Independent Fiduciaries, PLANSPONSOR reports. Financial terms of the deal have not been disclosed.

The Virginia-based service provider offers investment and fiduciary risk management to 401(k) plan participants and sponsors. Kevin O’Neill, Piedmont’s senior vice president for business development, and Amanda Dawson, client services director, will continue to serve in their roles at the firm.

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