North Carolina-based Zermatt Wealth Partners has agreed to merge with Virginia-based Thompson Davis & Co.
The merged firm will have approximately $275 million in assets under management with representative offices in Raleigh, Richmond, Charlottesville and Sarasota.
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Post merger, two divisions will operate under the name Thompson Davis & Co and Zermatt Wealth Partners will offer full service wealth management solutions to the clients of both the firms.
Zermatt will also offer additional services such as asset allocation and management, objectives-based financial and estate planning, cash flow planning, budgeting and liability management.
Additionally, Tommy Mayes, who recently became president and CEO of Piedmont Trust Company in Greensboro and regional managing director with Wachovia Wealth Management, will join the merging firms as chief financial officer.
William Davis, founding CEO and portfolio manager of Thompson Davis, said: "It is incumbent upon every investment firm to pursue opportunities to become a more complete trusted adviser for its clients.
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By GlobalData"The merger with Zermatt, a 50-50 partnership, will bring that capability in-house, while providing Zermatt with proprietary investment research and asset-management expertise," Davis added.
