Alabama investment advisory firm expanding into Georgia
Birmingham-based WA Asset Administration is growing into Georgia by way of the acquisition of BT Wealth Administration.
Terms of the offer were being not disclosed. In addition to asserting the acquisition, WAAM designs to rename itself and redefine its model in the coming months, the corporation announced.
BTWM was launched in 2008 and has developed to about $1 billion in belongings underneath administration. As section of the changeover, BTWM’s private money will be readily available to WAAM customers.
The acquisition expands WAAM into the Atlanta and Savannah markets. BTWM’s 14-human being workforce will sign up for WAAM, with Scott Craig assuming the purpose of regional director, Clay McDaniel starting to be chief financial commitment officer of non-public markets, and Justin Snell assuming the job of COO.
“WAAM’s philosophy is rooted in its motivation to clients and supporting them by way of every single step of their life,” WAAM CEO Josh Reidinger said in a assertion. “We see these same values woven into the society at BTWM. This acquisition lays the groundwork for additional expansion in the Southeast and past, and we are thrilled to welcome the gifted and devoted BTWM gurus to our workforce.”
WA Asset Administration is a cost-only registered expenditure adviser with five workplaces close to the Southeast, controlling $4.3 billion in property.