An RIA with $1.45 billion in assets under management has acquired a Chattanooga, Tenn.-based wealth management firm to expand in the region.

Keel Point, a Vienna, Va.-based firm, has offices in Chattanooga, Tenn., Huntsville, Ala., Kansas City, Mo.  and Washington D.C., the firm says. Following the acquisition of the Chattanooga, Tenn.-based DeMoss Capital, the firm says it will now manage $150 million in total client assets in the region.

"This acquisition solidifies our ability to serve clients in the area," Keel Point President Mike Perry said in a statement. "As an advisory firm owned jointly by the families we serve and the professionals who manage it, our clients cherish the quality of relationship inherent to a boutique structure."

The DeMoss Capital office will now transition to a branch of Keel Point, according to the firm.

DeMoss Capital founder John DeMoss will remain head of the Keel Point Chattanooga branch, the firm says.

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