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September 12, 2013 at 10:20 AM
The rollup rolls on.
Atlanta Capital Group announced Wednesday that it had surpassed $1 billion in assets under advisement with the merger of neighboring PFM Capital Holdings, a private family office based in the Peach State. This is the eleventh such deal for Atlanta Capital, whose East Coast presence stretches from Massachusetts to Georgia.
With this merger, Atlanta Capital Group claims it is ahead of what it sees as a national trend of family offices, traditionally reserved for the ultrawealthy, now serving clients with assets under $100 million.
“Our sweet spot is that $5 million to $20 million range,” says Jeff Shaver (left), founding principal partner at Atlanta Capital. “Goldman Sachs doesn’t want the $5 million accounts, to tell you the truth. But we’re scalable, and can service clients of that size.”
He cites the Family Wealth Alliance in noting there are more than 100,000 families with between $5 million and $20 million in the United States. Atlanta Capital Group aims to offer a higher level of service to these high-net-worth families, including investment advice, financial planning, family governance, planned giving, and administrative work, according to Shaver.
