Transactions
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Park Sutton advises ACG on its sale to Wealthspire
New York, NY, June 8, 2023 – Park Sutton Advisors, A Waller Helms Company (“Park Sutton Advisors”) is pleased to have represented Actuarial Consulting Group, Inc. and Actuarial Consulting Group Advisory Services, Inc. (“ACG”) on its acquisition by Wealthspire Advisors, LLC (“Wealthspire”), a leading Registered Investment Adviser (“RIA”) with $19.1 billion in assets under management and advisement (“AUM/A”). ACG is headquartered in Richmond, VA, and has approximately $1 billion in AUM/A.
"ACG’s priority has always been to take care of people through every stage of their lives and across multiple generations,” said J. Saunders “Sandy” Wiggins, CEO and President of ACG. “We are excited to work alongside new colleagues who share our passion for service and our commitment to our communities.”
Mike LaMena, CEO of Wealthspire, said, “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. 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 will be integrated into NFP’s Atlantic region retirement division under the leadership of Jessica Espinoza, Managing Director of Retirement at NFP. “ACG’s significant presence in the retirement plan space makes this an exciting acquisition for NFP,” said Espinoza. “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.”
Park Sutton Advisors Managing Directors, Steven Levitt and John Eubanks co-led the transaction. Levitt stated, “Sandy has built an admirable firm with a “client-first” focus. Through a partnership with Wealthspire, ACG will expand its capabilities to better serve clients.” John Eubanks added, “It was a pleasure working with Sandy and his team. The combination of Wealthspire and ACG will expand Wealthspire’s presence in the Atlantic region. We look forward to their combined success.”