NFP Subsidiary Wealthspire Advisors to Buy $1B Virginia RIA  

NYC-based Wealthspire Advisors, a subsidiary registered investment advisor (RIA) under insurance brokerage NFP’s Wealth & Retirement division, has reached a deal to acquire ACG Wealth Management, an RIA based near Richmond, VA, with around $1 billion in assets. 

Financial terms of the deal, which is expected to close in the third quarter of this year, were not made available.  

The deal will bring divisions of Actuarial Consulting Group Inc. and ACG Advisory Services Inc. into NFP’s retirement division and Wealthspire Advisors. ACG Advisory will bring third-party administrator and corporate retirement plan advisory business to NFP’s Atlantic region. 

“ACG’s TPA team will add scale to NFP’s Atlantic region and complement our existing operations. We look forward to integrating members of the ACG team and working together to serve our retirement clients,” said Jessica Espinoza, managing director, Retirement, NFP. 

ACG’s client base comprises both retail and business clients, working with more than 250 families and approximately 285 retirement-plan sponsors. ACG’s CEO and president, J. Saunders “Sandy” Wiggins, was named a managing director of Wealthspire. 

Wealthspire, which has 20 offices in 12 states, manages approximately $16.3 billion in assets. In March, it announced the purchase of $300 million Heron Wealth, a NY-based advisory firm.  

Park Sutton Advisors, a Waller Helms Company, served as financial advisor to ACG and Spotts Fain PC served as legal counsel. 

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