United Capital acquisition breaks up Atlanta RIA

United Capital Financial Advisers LLC is acquiring PPA Investments Inc. and signing on four advisers from the Atlanta-based registered investment adviser.
JUL 10, 2013
By  AOSTERLAND
United Capital Financial Advisers LLC is acquiring PPA Investments Inc. and signing on four advisers from the Roswell, Ga.-based registered investment adviser. Four other advisers are not joining United, said Ross Ramsey, managing member of PPA. Those four advisers will continue to use the PPA Advisors name until they merge with another firm later this year, said Daniel Dubay, one of the four. He declined to name the firm they plan to merge with. "There is no problem between the two groups of advisers," said Mr. Dubay, adding that the main reason for the split was differences between the advisers' practices and the needs of their clients. "We both decided to make a change because we needed different business models." Mr. Ramsey said United would help him and his colleagues with compliance and operational issues and allow them to focus more on their client base. “The tools and resources United has will allow us to spend more time with our clients,” said Mr. Ramsey. As with all firms acquired by United Capital, PPA will assume the United Capital name and operate under the firm's RIA. Along with Mr. Ramsey, Corley Watson III, Randy Berry and Charles “Rocky” Costa, III, are joining United. The four advisers joining United are bringing $224 million in assets under management and another $122 million in advised assets. Mr. Ramsey declined to comment on the four advisers who are not joining United. Prior to the acquisition announced today, PPA managed more than $550 million. PPA is the second firm that United Capital has acquired in the Atlanta market within the past year. In September, the firm bought Sanders Financial Management Inc. United now has 44 offices nationwide and $8 billion in assets under management. It advises on another $9 billion in 401(k) assets.

Latest News

Carson, Lido strengthen RIA networks with bicoastal deals
Carson, Lido strengthen RIA networks with bicoastal deals

Carson is expanding one of its relationships in Florida while Lido Advisors adds an $870 million practice in Silicon Valley.

Goldman gets shareholder backing on $80M executive bonus packages
Goldman gets shareholder backing on $80M executive bonus packages

The approval of the pay proposal, which handsomely compensates its CEO and president, bolsters claims that big payouts are a must in the war to retain leadership.

Integrated Partners, Kestra welcome multigenerational advisor teams
Integrated Partners, Kestra welcome multigenerational advisor teams

Integrated Partners is adding a husband-wife tandem to its network in Missouri as Kestra onboards a father-son advisor duo from UBS.

Trump not planning to fire Powell, market tension eases
Trump not planning to fire Powell, market tension eases

Futures indicate stocks will build on Tuesday's rally.

From stocks and economy to their own finances, consumers are getting gloomier
From stocks and economy to their own finances, consumers are getting gloomier

Cost of living still tops concerns about negative impacts on personal finances

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.