- BTWM was founded in 2008 as the wealth management division of accounting firm Bennett Thrasher LLP
- WAAM manages $4.3 billion in assets as of May 31, 2022
- HGGC invests in the middle market
WA Asset Management, a registered investment adviser, has acquired Atlanta-based BT Wealth Management LLC, a wealth management firm. No financial terms were disclosed.
WAAM is backed by Wealth Partners Capital Group and HGGC.
BTWM was founded in 2008 as the wealth management division of accounting firm Bennett Thrasher, LLP. Led by Managing Partner Scott Craig, BTWM has grown to about $1 billion in assets under management.
BTWM’s entire 14-person team will join WAAM, with Craig assuming the role of regional diector, Clay McDaniel becoming chief investment officer of private markets and Justin Snell assuming the role of chief operating officer.
“WAAM’s philosophy is rooted in its commitment to clients and supporting them through every step of their lives,” said Josh Reidinger, CEO of WAAM, in a statement. “We see these same values woven into the culture at BTWM. This acquisition lays the groundwork for further growth in the Southeast and beyond, and we are thrilled to welcome the talented and dedicated BTWM professionals to our team.”
In addition to announcing the acquisition, WAAM plans to rename itself and redefine its brand in the coming months.
The acquisition of BTWM closed on June 30, 2022, and will increase WAAM’s AUM by approximately $1 billion.
WAAM manages $4.3 billion in assets as of May 31, 2022. Founded in 1999 in Birmingham, Alabama, the company currently has five offices across the Southeast and a team of over 45 professionals.
HGGC is a middle-market investment firm based in Palo Alto, California, with over $6.8 billion in cumulative capital commitments.