Cary Street Partners announces acquisition

Cary Street Partners has agreed to acquire Dixon, Hubard, Feinour & Brown Inc. (“DHFB”) from Atlantic Union Bank, the Richmond-based wealth management firm announced this week.

Cary Street has a large presence in Fredericksburg, with an office that occupies most of the third floor of the new Liberty Place complex on William Street downtown. Atlantic Union Bank, which is one of the biggest local banks, also has a large office on the second floor of that complex.

Founded in 1981, DHFB is a Virginia-based wealth management firm with about $1.6 billion in assets under management. The transaction will bolster Cary Street Partners’ strong existing Virginia wealth management footprint by adding locations in Roanoke, Charlottesville and Arlington. When the transaction closes (scheduled by the end of June), Cary Street Partners will advise nearly 6,000 clients on about $7 billion in assets across all its subsidiaries.

Below is a “Freehling Finds” video we did on the local Cary Street office: