USAA to Close Wealth Management Office in Philadelphia

The United Services Automobile Association (USAA) will close a wealth management office located in Philadelphia, effective July 19, according to the Worker Adjustment and Retraining Notification Act notice the company filed this month with the Pennsylvania Department of Labor and Industry.

USAA’s Philadelphia office — the company’s only branch office in Pennsylvania — currently has seven staff members. A USAA spokesperson said the employees will be offered relocation packages to other USAA locations.

The Philadelphia office has served as one of approximately 40 USAA wealth management offices across the country providing financial advice and planning for USAA wealth management members. USAA said the company is consolidating and relocating some of its wealth management staff to seven centralized locations in San Antonio; Tampa, Florida; Phoenix; Addison, Texas; Colorado Springs, Colorado; Atlanta; and Washington, D.C.