Bank of the James to buy Virginia RIA

Bank of the James Financial Group in Lynchburg, Va., has agreed to buy Pettyjohn, Wood, & White, a registered investment adviser in Lynchburg.  

The $943 million-asset Bank of the James said in a press release Wednesday that Pettyjohn, Wood & White has more than $650 million of assets under management. The firm provides investment advisory services to high-net-worth individuals, individuals, corporations, charitable organizations and pension and profit-sharing plans. 

The price was not disclosed.

Bunny Wood will remain the investment adviser’s president and Charlie White will still serve as executive vice president after entering into long-term employment agreements.

“Pettyjohn, Wood & White has built its reputation on superior client service and a commitment to bettering our community,” Robert Chapman III, Bank of the James’ president, said in the release. “They are a perfect fit for a partner to further enhance what we believe to be a premier financial services institution in our region.”