DFPG Investments Inc., a broker-dealer and registered investment adviser in Salt Lake City, Utah, has acquired Provo, Utah-based Riggs Capital Management, which manages $220 million in assets.
The addition of Riggs Capital, brings DFPG's assets under management to $1 billion, according to the firm.
Jay Anthony Riggs, principal of Riggs Capital, had been affiliated with Orchard Securities for a year. From 2009 to 2016, he was affiliated with Triad Advisors. He began his securities career in 1994 at Intersecurities.
In a release announcing the acquisition, DFPG said it specializes in working with representatives who want to incorporate into their business alternative investments, with an emphasis in investment real estate.