Capital City Bank Group Acquires Strategic Wealth Group
Wednesday, May 5th, 2021
Capital City Bank Group, Inc. today announced the closing of its acquisition, on April 30, 2021, of substantially all of the assets of Strategic Wealth Group, LLC. A newly formed subsidiary of CCBG, Inc., Capital City Strategic Wealth, LLC (CCSW), acquired the wealth management business and will offer insurance planning, risk management and asset protection services. In addition, CCSW will offer investment advisory and estate planning services through LPL Financial. The acquisition reflects a deliberate effort to expand existing product offerings and service areas to deliver the highest quality wealth management services and risk management expertise to clients throughout the Southeast.
“Capital City has always been an acquisitive company seeking strategic ways to expand our product offerings and footprint while diversifying revenue streams and returning value to our shareowners,” said William G. Smith, Jr., chairman, president and chief executive officer of CCBG. “We are proud to add an established team of advisors to the Capital City family along with the expanded insurance and risk-management services they bring.”
Capital City Bank Group and Strategic Wealth Group represent a combined 152 years in business. Established in 1895 and headquartered in Tallahassee, Florida, Capital City Bank Group and its subsidiaries provide full banking and financial management services in 26 counties in Florida, Georgia and Alabama. Strategic Wealth Group, now Capital City Strategic Wealth, is headquartered in Valdosta, Ga., and principals are Senior Partner Teddy W. Welch, Sr., Senior Partner James L. Joiner IV, and Senior Partner Paul L. Bridges III.
The acquisition adds five wealth-management offices in Albany, Colquitt, Moultrie, Pelham and Valdosta, Ga. to Capital City Bank’s 57 full-service banking offices in Florida, Georgia and Alabama, expanding the availability of wealth management services throughout the Southeast while maintaining the high level of service clients have come to expect from Capital City. “Our practice focuses on evaluating and optimizing the efficiency of our clients’ financial situations,” said Welch. “We work with business owners, executives, physicians, land owners, agricultural leaders and more on wealth-maximization strategies, tax planning, leveraging assets and legacy planning.”
Capital City Strategic Wealth will be led by William L. Moor, Jr., the current president of Capital City Investments and Capital City Trust Company. Under the terms of the purchase agreement, Welch, Joiner and Bridges each became officers of Capital City Strategic Wealth, which will continue to operate from its headquarters in Valdosta, Ga. under the leadership of Moor, Welch, Joiner and Bridges. The financial terms of the transaction were not disclosed.
