Argent Financial Group, a US-based wealth and financial services firm, has purchased a fiduciary services line of business from Atlanta-based Reliance Trust Company.
Additionally, Argent Financial has opened a new office in Atlanta to expand its ptresence in the region.
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The new Atlanta office will be led by David Williams and Steve Martin, will work under the Argent Trust Company banner.
The acquisition aims to add several seasoned fiduciary consultants as well as more than $2 billion of client assets to Argent’s portfolio.
Kyle McDonald, CEO of Argent Financial Group, said that the new office will also offer wealth management services to complement existing trust services.
As part of the deal, Williams, who led Reliance Trust’s fiduciary services team, will join Argent as executive vice president and manager of Argent Trust Atlanta, while Martin will join Argent Trust as senior vice president and fiduciary consultant.
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By GlobalDataThe acquisition will expand Argent’s geographic presence as well as boost its core trust service offerings.
McDonald said. "An Atlanta office provides us the ability to further serve our growing client base both in the Southeast and the rest of the country. We needed to ensure that together this team and Argent would continue to be the pre-imminent trustee service provider in this specialty."
Martin said: "Argent goes to great lengths to understand its clients, and Argent’s commitment to key service values makes this transition a win-win for our team and our clients."
