Expansion into Richmond, VA, strengthens Wealthspire’s established presence in the Atlantic region
New York, June 7, 2023 – Wealthspire Advisors, an NFP company and independent registered investment advisor firm headquartered in New York City, today announced a signed agreement to purchase ACG Wealth Management, a privately held and independent wealth management firm based in Richmond, Virginia. The transaction is expected to close in the third quarter of 2023, subject to customary approvals and closing conditions.
“We’re delighted to welcome ACG, its CEO and president J. Saunders ‘Sandy’ Wiggins, and his entire team to Wealthspire,” said Mike LaMena, CEO of Wealthspire. “ACG has a long history of serving individuals and families, and companies as a trusted financial partner, while also serving local communities. In addition to the team’s dedication to clients, their strong commitment to supporting charitable organizations aligns with our purpose of broadening our impact and giving back.”
ACG offers expertise in investment management, qualified plans, tax strategy, and TPA services. Led by Wiggins, the seasoned team of experts specializes in navigating the complexity of modern wealth management. ACG currently serves more than 240 families and 285 plan sponsors, overseeing total assets of approximately $1 billion*. As part of the acquisition, its TPA and retirement business will be integrated into NFP’s Atlantic region retirement division under the leadership of Jessica Espinoza, Managing Director, Retirement, NFP.
“ACG’s priority has always been to take care of people through every stage of their lives and across multiple generations,” said Wiggins. “In joining Wealthspire and the NFP community, we’ll continue to provide the same services and care that our clients have known for decades but now with the support of a much deeper pool of resources. We are excited to work alongside new colleagues who share our passion for service and our commitment to our communities.”
LaMena continued, “We are excited to continue our expansion in the Atlantic region by entering the Richmond market with the addition of such a talented team who will be culturally and professionally additive to our organization. ACG’s deep network and community connections make the group an excellent partner as we continue to grow our presence on the East Coast.”
ACG’s clients will benefit from Wealthspire’s scale, including its 19-member investment team, 20 offices across 12 states, sophisticated technology, and robust middle and back-office support. Wealthspire is backed by its parent company NFP, a leading property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor with more than $2.2 billion in annual revenue (2022).
Park Sutton Advisors, a Waller Helms Company, served as financial advisor to ACG and Spotts Fain PC served as legal counsel.
About Wealthspire Advisors
Wealthspire Advisors is an independent registered investment advisor with 20 offices in 12 states throughout the Northeast, Atlantic, Midwest, and West Coast. We are fiduciary advisors who value connecting all parts of a client’s financial life to deliver thoughtful, collaborative strategies that optimize their finances and fulfill their aspirations. Wealthspire Advisors acts as a wealth manager, investment advisor, consultant, and constant partner in helping clients gain confidence in their financial futures. For more information on Wealthspire Advisors, please visit www.wealthspire.com.
About NFP
NFP is a leading property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor that provides solutions enabling client success through the expertise of over 7,400 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 9th best place to work for large employers in insurance, 7th largest privately-owned broker, 5th largest benefits broker by global revenue and 13th largest broker of US business (all rankings according to Business Insurance).
Visit NFP.com to discover how NFP empowers clients to meet their goals.
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