Linscomb & Williams, a fee-based investment advisory firm and wholly owned subsidiary of Cadence Bank, announced the signing of a definitive agreement to acquire Atlanta-based Wealth & Pension Services Group, Inc. With the addition of W&P, L&W will have close to $3.5 billion of assets under management and more than 1,800 households. The transaction is scheduled to close on July 1, 2019, pending required regulatory approvals.
“The experienced and well-regarded teams at L&W and W&P are central to our overall wealth management strategy as we grow and enhance our offerings within Georgia and across our footprint,” said Sam Tortorici, CEO of Cadence Bank. “We look forward to the many opportunities that lie ahead for our clients through L&W’s acquisition of W&P, including expanded wealth management and financial planning services that will assist our clients in reaching their personal financial goals and achieving long-term financial health.”
Through this acquisition, Cadence Bank and L&W now provide a local and established wealth management offering for the Atlanta and broader Georgia markets. For individuals, families and executives, this includes investment and wealth management, financial advice and planning, retirement income planning, insurance planning, estate planning, and divorce planning. For companies, small businesses and non-profit organizations, this includes corporate retirement plans and executive compensation.
“We’re excited to welcome the W&P team and celebrate this milestone for our growing firm,” said J. Harold Williams, CEO of Linscomb & Williams. “The team’s wealth of experience and new perspectives will bring meaningful benefits to our clients, including the specialized knowledge of W&P principals Bill Kring and MaryJane LeCroy on retirement and 401(k) planning. W&P’s existing clients can expect the same individualized and objective approach from the skilled investment advisors they know and trust, while enjoying connectivity to L&W’s broader capabilities.”
W&P will now operate as Wealth & Pension Services Group, a division of Linscomb & Williams.
For more information about L&W, visit: www.linscomb-williams.com/.
About Cadence Bank
Cadence Bank is a regional bank with $17.4 billion in assets as of March 31, 2019 and 98 branch locations in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Backed by 131 years of financial expertise, Cadence provides corporations, middle-market companies, small businesses and consumers with a full range of innovative banking and financial solutions. Services and products include commercial and business banking, treasury management, specialized lending, asset-based lending, commercial real estate, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, business insurance, consumer banking, consumer loans, mortgages, home equity lines and loans, and credit cards. Clients have access to leading-edge online and mobile solutions, interactive teller machines, and more than 55,000 ATMs. The Cadence team of 1,800 associates is committed to exceeding customer expectations and helping their clients succeed financially. Cadence Bank, N.A. is a subsidiary of Cadence Bancorporation (NYSE: CADE). For additional information, visit cadencebank.com. Cadence Bank, N.A. Member FDIC. Equal Housing Lender. NMLS#525022.
About Linscomb & Williams
Linscomb & Williams is a fee-only wealth management firm headquartered in Houston, Texas with offices in The Woodlands, Texas and Birmingham, Ala., and servicing clients nationwide. Established in 1971, Linscomb & Williams has been helping families build, preserve and manage wealth for nearly half a century. Currently managing more than $3 billion in client assets, this registered investment advisor firm acts as a fiduciary in advising clients on investments, retirement, estate and tax planning, insurance, education, succession planning, and legacy wealth building. Many of the firm’s advisors have a background in law, tax, accounting and/or financial planning. Linscomb & Williams is a wholly owned subsidiary of Cadence Bank, N.A.
