September 27, 2022

StuffStrife

Enduring Values

WA Asset Administration Acquires BT Prosperity Administration

BIRMINGHAM, Ala.–(Business WIRE)–WA Asset Administration (“WAAM”), a registered financial commitment adviser (“RIA”) that specializes in expense management, monetary arranging and wealth administration answers for a diverse group of higher-web-worth people today, corporate retirement plans and institutional shoppers, has obtained BT Wealth Management, LLC (“BTWM”). This strategic growth into Atlanta and Savannah, Georgia, generates new benefits for the business though creating the foundation for long term advancement throughout the area and past.

BTWM was founded in 2008 as the prosperity management division of accounting firm Bennett Thrasher, LLP (“BT”). Led by Handling Husband or wife Scott Craig, BTWM has grown organically to roughly $1 billion in AUM. WAAM will carry on to collaborate carefully with BT gurus, delivering comprehensive steerage to shared shoppers. As element of the changeover, BTWM’s non-public money will be offered to WAAM customers, further more improving the collective team’s consumer choices.

BTWM’s complete 14-particular person group will sign up for WAAM, with Craig assuming the function of Regional Director, Clay McDaniel getting Chief Investment Officer of Private Markets, and Justin Snell assuming the role of Main Working Officer.

“WAAM’s philosophy is rooted in its determination to consumers and supporting them by means of every single stage of their lives,” claimed Josh Reidinger, CEO of WAAM. “We see these exact values woven into the lifestyle at BTWM. This acquisition lays the groundwork for even more progress in the Southeast and further than, and we are thrilled to welcome the gifted and committed BTWM specialists to our workforce.”

We had been very thoughtful and strategic in partnering with WAAM,” Craig included. “We promptly uncovered that our cultures intently align and our skillsets are complementary to a diploma that is rare in this market. We realized we could accomplish so substantially additional alongside one another. WAAM and BTWM share a very comparable heritage, both coming from respected CPA firms. By pooling our resources, we can construct new occupation opportunities for our crew and get our client expertise to the up coming degree.”

“The acquisition of BTWM by WAAM is an perfect answer for our clientele and our firm,” explained Jeff Contact, Handling Lover of BT. “It provides collectively two like-minded teams with a shared vision for advancing their client relationships. I seem ahead to observing our purchasers and our men and women prosper underneath this new partnership.”

In addition to saying the acquisition, WAAM ideas to rename by itself and redefine its brand in the coming months.

“WAAM is in a period of time of quick development and we are being thoughtful about how our firm’s mission, values and aims are reflected in our market positioning,” explained Justin Russell, President of WAAM. “Our objective is to honor our heritage and the beneficial partnerships we’ve fostered in the course of our heritage, though at the same time showcasing our ahead-looking momentum.”

The acquisition of BTWM marks WAAM’s 2nd because accepting an equity expenditure in December 2021 from Wealth Partners Money Team (“WPCG”) and HGGC, leveraging the latter’s Aspire Holdings platform. The BTWM acquisition provides strategic locations for WAAM in Georgia and will foster relationships that help the firm’s ongoing organic and natural and M&A-focused progress initiatives, notably similar to prosperity management firms with a CPA-orientation.

“WAAM’s partnership method makes it possible for RIAs with CPA affiliations to pursue their development aspirations and increased consumer offerings although continuing to leverage their CPA relationships,” said Mac Selverian, Principal of WPCG. “This acquisition more validates the energy of WAAM’s distinctive growth technique and propels the collective group toward an interesting model evolution.”

The acquisition of BTWM closed on June 30, 2022, and will raise WAAM’s AUM by around $1 billion. Economic and authorized conditions of the offer will not be disclosed.

About WA Asset Management

WA Asset Management (“WAAM”) is a payment-only registered expenditure adviser that serves the investment management and prosperity organizing requires of a numerous team of clients, which include significant-internet-well worth folks and people, corporate retirement designs, trusts, endowments and institutions. WAAM manages $4.3 billion in belongings (as of 5/31/22) and presents collaborative financial commitment, tax, estate and money setting up providers. Founded in 1999 in Birmingham, Alabama, the company at present has five offices throughout the Southeast and a crew of in excess of 45 experts who hold lots of of the industry’s most prestigious qualifications. For additional info, remember to go to www.waasset.com.

About Wealth Partners Money Group

Prosperity Associates Capital Team (“WPCG”) is a money products and services keeping enterprise, which invests in and partners with choose top prosperity administration firms. WPCG helps its husband or wife companies by figuring out and integrating like-minded registered investment decision advisers and fiscal advisors who are in search of accessibility to expanded enterprise abilities, strategic development and tailored changeover methods. For far more information and facts, remember to visit www.wealthpcg.com.

About HGGC

HGGC is a primary middle-marketplace investment agency primarily based in Palo Alto, California, with over $6.8 billion in cumulative capital commitments. HGGC is centered on partnerships with administration teams, founders and sponsors who reinvest alongside HGGC, building a potent alignment of interests. HGGC helps make investments in RIAs by means of its Aspire Holdings platform, which is concentrating on $300 million of complete investment in the place. Extra data is obtainable at www.hggc.com.