Investment and strategic advisory firm Brown Advisory has acquired $4.3bn advisory firm Signature Family Wealth Advisors for an undisclosed sum.
Established in 1994, Signature is a registered investment adviser with offices in Charlottesville, Norfolk and Richmond.
With expertise in investment, tax and planning, the Virginia-based firm focuses on providing customised solutions to its clients. It is said to have 48 associates.
Signature president and CEO Randy Webb said: “The combination with Brown Advisory is perfectly aligned with the expectation and intention of Signature’s founding.
“Independence, client service and a passion for excellence and learning are central attributes to both firms.
“The combined resources and expertise of Signature and Brown Advisory will enhance the platform for our industry-leading multi-family office service.”
Besides strengthening Brown Advisory’s footprint in the state of Virginia, the combination will expand the advisory team of the company.
Brown Advisory president and CEO Mike Hankin said: “Ahead of us is the tremendous opportunity to serve our existing clients in a more complete way and to build new relationships with families across not just the United States, but around the globe.
“Together, we are building a firm that aims to not just raise the bar for our clients’ experience, but to raise the future of our industry.”
Serving clients across 37 countries, Brown Advisory manages nearly $67bn in assets.