The family wealth advisory firm PagnatoKarp has recruited a team from Convergent Wealth Advisors, which was acquired by Pathstone Family Office.

Virginia-based PagnatoKarp has expanded its RIA platform firm to serve high net worth clients via a new business unit called True Fiduciary.

The branch will be managed by a four-person team that has moved from Convergent Wealth Advisors with around $100 million in assets under management by Bill Bancroft, Drew Woolridge, Kevin Smith and Dawn Page.

The new family office business unit will serve clients with $1-8 million in investable assets.

Convergent Wealth Advisors of Potomac, MD, was acquired by Pathstone Family Office.

PagnatoKarp represents $2.5 billion in assets under advisement.