ALEXANDRIA, VA, January 16, 2012 (Press-News.org) Alexandria Financial Associates ("AFA" - Private Wealth Management Division of Botree Westmount Partners) today announced that on December 31, 2011, it acquired Capital Management Group ("CMG"), a Registered Investment Advisor (RIA) with more than USD $160 million in assets under management.
CMG, based in Washington DC, provides independent "Fee-Only" asset management services to High Net Worth individuals, estates and trusts primarily in The Washington DC, Maryland and Northern Virginia.
"CMG is a strong fit with our business. It understands the importance of remaining "Fee-Only" despite the industry's recent attraction to the commission and fee-based business models. This acquisition enables us to further strengthen our professional depth and diversity in the RIA space, where AFA and CMG already have a strong industry footprint. We also welcome CMG's employees and clients. We are confident that we will continue to provide the trusted, high-quality service that CMG and AFA clients have come to expect," said Augustine Hong, CEO of Alexandria Financial Associates.
William G. Brennan, Founder & CEO of Capital Management Group, said, "We believe that the reputation and the quality of professionals at Alexandria Financial, together with CMG's long history of service excellence, will further enhance the client experience with our combined firm and will position the company for continued growth in the RIA space going forward."
The combined entity will manage over $400mm in client assets (both direct and roll up advisory) and will have offices in Washington DC, Virginia and New Jersey. Mr. Augustine Hong will retain the CEO/Managing Partner role and Mr. William Brennan will take on an active role as the Executive Vice President of Wealth Management Services for the combined entity.
For further information, please contact
Press and Media Relations /Investor Relations:
Alexandria Financial Associates:
Augustine Hong (201) 363-0800
www.botreewestmount.com
Capital Management Group:
William G. Brennan (202) 391-0171
www.cmg-llc.net
About the transaction parties:
Alexandria Financial Associates, a Botree Westmount Partners, LLC operating company, was founded in 1987.
Capital Management Group is a Registered Investment Advisor (RIA) and was founded in 1994 by Bill Brennan. Bill has been recognized as one of the top financial advisors in Washington D.C. by Washingtonian magazine, and Accounting Today recognized Bill as "one of the highest-profile CPA-financial planners in the country." Bill serves on the board of several organizations and has been a trusted financial advisor for over 30 years.
Botree Westmount Partners is an SEC Registered Investment Advisor with offices in NJ, VA and DC.
Botree Westmount Partners to Acquire a DC Wealth Management Firm to Kick-Start the New Year
Alexandria Financial Associates, a division of Botree Westmount Partners, announced that it acquired a DC based SEC Registered Investment Advisor, Capital Management Group, LLC.
2012-01-16
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[Press-News.org] Botree Westmount Partners to Acquire a DC Wealth Management Firm to Kick-Start the New YearAlexandria Financial Associates, a division of Botree Westmount Partners, announced that it acquired a DC based SEC Registered Investment Advisor, Capital Management Group, LLC.