Two mergers have made financial advisory firms in Greenville and Columbia bigger than they were.
In the larger deal, Greenville-based FinTrust Investment Advisors combined with Broad Street Capital Advisors of Athens, Ga.
The combined company is based in Greenville, employs 39 people, and advises individuals, corporations, and institutions in the management of $1.6 billion in assets.
It has offices in Greenville, Anderson, Charleston, Athens, and Macon, Ga., and plans to add offices in Atlanta and Columbia.
The merged company is using the FinTrust brand in South Carolina and keeping the Broad Street brand in Georgia for now. The owners are Philip Brice, Patrick Sheridan, and Allen Gillespie.
In the smaller deal, Abacus Planning Group of Columbia merged with Beckwith Financial Advisors of Greenville.
The combined company is based in Columbia and uses the Abacus name.
It employs 28 people, has offices in Columbia and Greenville, and manages more than $1 billion in investments, mostly for families with shared assets such as a business, real estate, or oil and gas interests.
The owners are Cheryl R. Holland, Alexander Chastain, Charles B. Flowers, and Jon J. Robertson.
“Given Greenville’s strong corporate base, we expect to grow by 15 to 20 percent per year in the Greenville market and are hiring proactively in Greenville to serve that growth,” said Holland, Abacus founder and president.
Terms were not disclosed for either deal.