BIP Wealth is acquiring Money Advisor Group, increasing its assets under management to over $3.3 billion.
BIP Wealth provides investment management and planning for high net worth individuals and families, with offices in Atlanta, Alpharetta, Ga., and Nashville, Tenn. and Columbus, Ga., since acquiring Money Advisor Group (that firm manages about $300 million in assets).
Tim Money, who founded MAG in 2001, will remain president and the firm's entire team will become part of BIP Wealth. In a statement about the deal, BIP Wealth CEO Bill Harris said the firm was “thrilled” to expand its reach into Columbus and the surrounding area.
“They bring a shared commitment to excellence and lifelong service to their clients, and we are delighted to welcome them to the BIP family,” said Harris.
BIP Wealth, one of the WealthManagement.com's RIA Edge 100was founded in 2007 and works with institutional clients and corporate pension plans (in addition to working with HNW individuals and families).
In July 2022, the firm expanded into the Nashville market hiring Personal Wealth Advisor Ashley Arrington, who was previously with Fidelity Investments in Franklin, Tenn., with a background in investment counseling, retirement planning and charitable giving.
BIP has 57 employees and more than 1,440 advisory clients, according to Discovery Data. The deal is expected to close on May 22.