Atlanta Capital Group has acquired Chitwood Advisory Group, company officials announced earlier this week.
The deal brings Birmingham, Ala.-based Chitwood Advisory’s $82 million in client assets to the Atlanta Capital fold, swelling the latter’s assets to $765 million. It also continues Atlanta Capital’s drive to grow its business via acquisitions, a unique services structure, and winning new business.
The current deal marks Atlanta Capital’s second acquisition since June 2011, when it acquired an independent wealth advisory firm in St. Simons, Ga. The firm was founded in 2002.
“Chitwood Advisory is complimentary to Atlanta Capital Group,” David Millican, Atlanta Capital’ principal managing partner said in a statement. “This is an opportunity for us to grow our footprint and enter a market with which we are very familiar.”
Donna Mitchell writes for Financial Planning.
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