New York-based Wealthspire Advisors has agreed to acquire Richmond, Va.-based ACG Wealth Management in a transaction that will close in the third quarter of this year, according to a company announcement.

"We are excited to continue our expansion in the Atlantic region by entering the Richmond market with the addition of such a talented team who will be culturally and professionally additive to our organization,” said Mike LaMena, Wealthspire CEO, in released comments. “ACG’s deep network and community connections make the group an excellent partner as we continue to grow our presence on the East Coast.”  

ACG Wealth Management consists of two subsidiary companies: Actuarial Consulting Group and its $1 billion affiliated RIA, ACG Advisory Services. Together they serve more than 240 families and 285 plan sponsors, offering investment management, qualified plans, tax strategy and third-party administrator services.

Wealthspire’s parent company, the property and casualty insurer and benefits administrator NFP, will use the firms to provide retirement plan sponsor clients with retirement advisory, plan design and administration, according to the announcement. 

ACG’s retirement and third-party administrator will be integrated into NFP’s Atlantic region retirement division, while Wealthspire will retain the RIA, as well as ACG’s CEO and president, J. Saunders “Sandy” Wiggins, and his entire team, according to the announcement

“ACG’s priority has always been to take care of people through every stage of their lives and across multiple generations,” said Wiggins in a press release. “In joining Wealthspire and the NFP community, we’ll continue to provide the same services and care that our clients have known for decades but now with the support of a much deeper pool of resources. We are excited to work alongside new colleagues who share our passion for service and our commitment to our communities.” 

Wealthspire now boasts 20 offices across 12 states. While NFP's independent units do not report AUM or revenue figures, NFP as a whole brings in more than $2.2 billion in annual revenue, according to the announcement.