BALTIMORE--(BUSINESS WIRE)--Asset Strategy Consultants (ASC), an independent investment management consulting firm with more than $10 billion under advisement, has expanded their Wealth Management division with the acquisition of Baltimore-based RIA firm Belay Group and the appointment of its president, Tony King, as head of Private Wealth. Tony brings more than 25 years of experience in the financial services industry to ASC, which specializes in customized consulting solutions to fiduciaries of endowments, foundations, retirement plans, operating reserves, and private wealth.

ASC’s acquisition of Belay Group and expansion of Wealth Management continues their recent efforts to enhance services offered to clients. Just last year ASC hired Andy Conner, former CIO and deputy CIO for the Johns Hopkins Office of Investment Management, to broaden their Outsourced Investment Office business. ASC Private Wealth uses the experience of their investment team and the tools available to service endowments and foundations and apply them to private wealth clients.

Prior to founding Belay Group, Tony served as a Managing Director with Wells Fargo for 21 years. He is a CFA Charterholder and holds an MBA in finance from American University.

“I am thrilled to be joining Asset Strategy Consultants,” said King. “ASC’s independent open architecture model will be a great advantage for existing and future private wealth clients. Belay Group is the ideal fit for ASC as we continue building on our wealth management offerings.”

“We are excited to expand our expertise and practice with the addition of Belay Group and Tony King,” said Bobby Merrick, Principal at ASC’s Hunt Valley headquarters. “This is the second major hire we have made in the past year. Tony’s leadership in private wealth enhances the industry-leading financial services we deliver every day to our clients. We look forward to growing our business together.”

About Asset Strategy Consultants

Founded in 1991, Asset Strategy Consultants (ASC) is a privately held, independent investment consulting firm that provides customized solutions to fiduciaries of endowments, foundations, retirement plans, operating reserves, and private wealth. ASC assists their institutional clients in managing investment risk and in achieving their long-term investment goals. The firm, headquartered in Hunt Valley, MD, has three other offices along the East Coast. For more, visit www.assetstrategyconsultants.com.