WA Asset Management, a Birmingham, Alabama-based registered investment adviser managing $4.3 billion, has acquired BT Wealth Management, an RIA firm managing $1 billion based in Atlanta and Savannah, Georgia.
Terms of the acquisition were not disclosed.
BT Wealth Management was founded in 2008 as the wealth management division of accounting firm Bennett Thrasher. BT’s professionals will continue to work with Bennett Thrasher, WA Asset Management said in a press release Wednesday, noting that the entire 14-person BT team is joining the firm.
Scott Craig, managing partner at BT, will assume the role of regional director. Clay McDaniel will become chief investment officer of Private Markets, and Justin Snell will become chief operating officer.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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