home Latest News Richmond firm that managed Massey family wealth merges with larger group – Richmond.com

Richmond firm that managed Massey family wealth merges with larger group – Richmond.com

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Triad LC, a Richmond firm that managed money for members of the Massey family, has merged with a larger, multi-family wealth management group, Signature Family Wealth Advisors.

The merger was completed Dec. 31. The families of brothers Ivor Massey Jr. and Gene Massey have become clients of Signature, and the four staff members of Triad LC have joined Signature’s Richmond office.

Ivor Massey Jr., a Richmond lawyer and entrepreneur, said the merger is part of succession planning for the family. 

“I just turned 70, and I want to spend more time with my grandchildren in Florida,” he said.

Ivor Massey Jr. is the son of Ivor Massey Sr., who co-founded Massey, Wood and West Inc., a Richmond heating oil company, and Anne Holt Massey, a prominent philanthropist whose father was a co-founder of the textile company Burlington Industries.

“We interviewed a number of firms and number of firms actually sought us out,” Ivor Massey said. “The best fit was Signature. We are thrilled with what they do, and their expertise.”

With offices in Hampton Roads, Richmond and Charlottesville, Signature manages wealth for about 160 high net-worth families, most of whose wealth originated in Virginia, said Chris Rusbuldt, client portfolio strategist in Signature’s Richmond office, which prior to the merger was a one-man office.

Signature has about $4.1 billion under management, with an additional $1 billion under advisement. Neither Rusbuldt nor Massey would comment on how much the Massey family adds to the assets under management.

“We have the privilege to have the Masseys joining us,” Rusbuldt said.

“It is wonderful family that has been part of Richmond for a century now,” he said. “We also are gaining four team members who are part of Triad and will bring a wealth of experience.”

Triad and Signature have adjacent offices in the same building on 14th Street in Shockoe Slip, and Signature is taking over the space occupied by Triad.