Cantor Fitzgerald Wealth Partners is buying the advisory business of First Commonwealth Financial Advisors Inc.

The Pittsburgh, Pa.-based First Commonwealth unit has more than $2 billion in assets under advisement, and is a subsidiary of First Commonwealth Financial Corp. (NYSE: FCF).  For First Commonwealth, the divestment allows the company to refocus on community banking. Indiana, Pa.-based First Commonwealth is the holding company for 110 First Commonwealth Bank retail branches. Terms of the deal were not disclosed.

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