A Richmond-based wealth management firm looked eastward for its latest acquisition.
Cary Street Partners on June 30 absorbed Virginia Beach-based Waypoint Advisors, giving the firm its first presence in Hampton Roads.
Joe Schmuckler, CEO of Cary Street Partners, said the firm had been looking to enter the Hampton Roads market for five years, searching aggressively in the past three. Talks with Waypoint began in November 2018.
“We wanted to be present throughout Virginia,” Schmuckler said. “Having a physical presence with the right partners in the Hampton Roads market was a very, very high priority.”