On June 7, 2023, National Financial Partners Corporation in conjunction with its subsidiary, Wealthspire Advisors LLC, announced the acquisition of Actuarial Consulting Group, Inc. and Actuarial Consulting Group Advisory Services, Inc.
Under the terms of the transaction, National Financial Partners Corporation (“NFP”) and Wealthspire Advisors LLC (“Wealthspire”) will acquire Actuarial Consulting Group, Inc (“ACG”) and ACG Advisory Services, Inc (“ACG Advisory”). ACG and ACG Advisory collectively do business as ACG Wealth Management. ACG’s CEO and President, Sandy Wiggins, will join Wealthspire. The transaction is anticipated to close during the third quarter of 2023. Further terms of the deal were not disclosed.
NFP, based in New York, is an insurance brokerage and wealth management firm. As of July 2022, NFP had approximately $50 billion in assets under management.
Wealthspire, based in New York, is a registered investment advisor that provides financial planning and investment services to individuals and institutional investors. Wealthspire is a subsidiary company of NFP. As of March 2023, Wealthspire had approximately $19.13 billion in assets under management.
ACG Wealth Management, based in Richmond, Virginia, offers investment management, tax planning, qualified plans and third-party administrator services. As of June 2023, ACG Wealth Management had approximately $1 billion in assets under management. Park Sutton Advisors served as financial advisor to ACG Wealth Management for this transaction.
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