Waddell, Smith, Magoon & Freeman has merged with two local firms in the Atlanta area, Gruber & Co. and Pechter & Associates., expanding WSM&Fs client base and combined revenue by about 40 percent.
Founded in 1979, WSM&F is headquartered in Roswell, Ga. With the recent mergers, the firm will grow its client base from about 2,600 to 3,500 business and individual clients. The staff will also increase from 35 to approximately 50 professionals, including Burton Gruber and Marvin Pechter.
We started negotiating with them late last summer, in August, said WSM&F managing partner Joe Spain Jr. Primarily were trying to expand our client base, and establish a second strategic location in the Atlanta area. Both firms seem to fit right in with our overall philosophy.
Combined revenues at WSM&F are expected to grow from $5 million to $7 million. The mergers became effective Jan. 1.
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