BIP Wealth, an Atlanta-based registered investment advisor, is expanding its reach within Georgia with the acquisition of the Money Advisor Group, a Columbus, Ga.-based RIA with $300 million in assets under management that specializes in investment management and retirement planning.
The deal, which was announced earlier this week, will raise BIP’s assets under management to more than $3.3 billion, according to the firm. The Money Advisor Group’s advisors will see significant benefits from the acquisition, as they will gain access to BIP’s wealth management platform, its private marketing solutions, and planning and other services, according to the firms.
Tim Money, who founded his namesake firm in 2001, said his firm’s commitment to its clients has not changed with this transaction. The firms are aligned in their philosophy of putting clients first, which is what made both sides suitable partners for the other, he explained.
“Our longstanding commitment to serving our clients in every way possible has been and continues to be our primary mission, even as we discussed how a partnership with BIP Wealth would take shape,” he said in a release. “Our earliest discussions made it clear that BIP aligns with our values and priorities.”
For BIP it will mean bringing its products and services to more people in Georgia, according to Bill Harris, CEO of BIP Wealth.
“BIP is thrilled to broaden our reach into the Columbus area and surrounding markets with Tim and his impressive team,” he said in a statement. “They bring a shared commitment to excellence and lifetime service to their clients, and we are happy to welcome them to the BIP family.”
After the deal closes on May 22, Money will remain as president of the Money Advisor Group while his entire team will become BIP employees, according to the firm.
BIP Wealth serves mostly high-net-worth individuals and families. Its new clients can expect the firm to incorporate financial planning with public market investing and private market opportunities, according to Mark Buffington, CEO of BIP Capital and co-founder of BIP Wealth.
“We have decades of experience connecting our clients—particularly families and individual investors—to the best and most innovative segments of the American economy,” he said. “Our unique investment platform enables clients to earn significantly higher risk-adjusted returns through a sophisticated portfolio management and planning process.”