US-based wealth management consulting practice GCG Advisory Partners (GCG AP) has announced the acquisition of First Fidelity Financial Group of Atlanta (First Fidelity).
First Fidelity is a financial advisory firm managing more than $170m in client assets.
According to GCG AP, First Fidelity will bring expertise that will enhance its scale and intellectual capital and strengthen its offering for financial advisors.
The acquisition enhances its footprint, increasing its total managed assets to nearly $2.9bn and expanding its presence in the Atlanta market with over $400m in client assets.
Both GCG AP and First Fidelity share a strategic relationship with Osaic, a wealth management firm that specialises in asset management.
GCG AP CEO Joel Burris said: “We greatly appreciate Osaic’s senior leadership and their ongoing efforts to enhance platforms and technology, which make it possible for our firm to scale while leveraging their robust infrastructure.
“No clients will experience disruption, there’s no need for repapering or interface changes. Kent, his team, and clients will enjoy the same experience the day after the close as they did the day before.”
First Fidelity is a diversified financial services company providing financial services, products, and support to help clients reach their unique financial objectives.
With more than 25 years of experience, the company focuses on protecting current assets, achieving investment objectives, and reducing taxes.
First Fidelity Financial Group president Kent Balch said: “I am thrilled to announce my partnership with GCG Advisory Partners.
“This strategic move allows me to leverage their robust infrastructure and support to better serve my clients, scale my business, and offer an expanded range of services in an evolving wealth management landscape.
“Becoming an equity partner in this larger firm ensures that our clients benefit from our collective expertise and resources.”
