Charlotte investment group finalizes acquisition by Atlanta-based Brightworth

McGill Advisors, Inc., a Charlotte-based investment advisory firm, said Wednesday it will be acquired by Atlanta-based Brightworth.

The transaction, agreed upon in early May, nearly doubles Brightworth’s clients and assets under management, as well as expanding the firm’s footprint into the Charlotte area.

Founded in 1999 by John McGill and Bob Sytz to serve the investment needs of dental professionals, McGill Advisors will retain its current name, though as a branch of Brightworth. Four partners and eleven McGill Advisors employees, including six wealth advisors, will join Brightworth, continuing to work in the expanded firm’s Charlotte office.

McGill Advisors brings $1.4 billion in assets to the deal, raising Brightworth’s total assets to $2.9 billion for over 1,200 clients.

“We are very pleased to have McGill Advisors join Brightworth to create one of the largest investment advisory firms in the Southeast,” said Ray Padrón, Brightworth’s managing partner. “We look forward to working with our new colleagues to strengthen the services we provide our clients.”

Padrón also noted that McGill clients in Charlotte will be able to continue working with their current advisors.

“Each individual, family, and practice served by the McGill Advisors division has a solid working relationship with their McGill wealth advisor,” he said. “We understand the importance of this bond, and we plan to enhance these ties by bringing additional resources to Charlotte, supporting advisors’ capacity to serve their clients with excellence.”

Matt Kaminer: 704-358-5258, @MattKaminer