Atlanta Capital Group, a large family office weatlh management firm, has added $141 million in assets under management with the acquisition of Optimum Growth Advisors, an RIA based in New York and Boston.
The deal increases Atlanta Capitals assets under management to more than $950 million.
[Optimum Capital] has an extremely high-net-worth clientele and they do strictly a growth model, Atlanta Capital founding partner David Millican said in an interview, adding that Optimum serves 27 families. We are going to be able to open up other channels [for Optimum clients] whether its value to fixed income.
The deal was brokered by one of the countrys largest RIA brokers, Portland, Ore., based FP Transitions.
[FP Transitions] mentioned this practice and ultimately we ended up meeting and one thing lead to another, Millican said.
With the acquisition, Atlanta Capital now is on track to increase its managed assets to more than $1 billion this year through organic growth, the company said in a statement.
In our previous partnerships we were looking for like-minded advisory firms of a certain size, Millican said in the statement. The client experience is our top priority. Our unique combination of disciplined strategies and personalized services will appeal to investors in these world-class markets.
Optimum's assets will be added to Atlanta Capital Group's platform. Optimum's founding principals, Diane Englert Christian and Karen Japngie, have been named managing partners at Atlanta Capital. Christian, a chartered financial analyst, was a senior vice president at U.S. Trust Co. of New York before launching Optimum. Japngie began her career at Paine Webber in New York as an RIA before being named a vice president with U.S. Trust, Atlanta Capital said.
The Optimum Growth product is a complementary addition to the Atlanta Capital Group array of financial products as a long-term growth allocation for high-net-worth portfolios, Christian said in the statement.
Atlanta Capital was founded in 2002 by Millican, Jeffrey Shaver and Jody Young with $82 million in assets. The Atlanta-based company has become one of the fastest growing RIAs in the Southeast.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access