The family dynasty wanted to shift oversight of the assets for succession planning reasons and to help broaden employee development of the existing organization running the money.

The patriarch of a prominent Richmond, VA-based family is moving management of his family wealth to Signature Family Wealth Advisors, according to local publication Richmond BizSense.

The assets of Ivor Massey Jr and his family were acquired from an eponymous coal firm, and other businesses, the report said. The name of the family office is Triad LC.

Massey has been running his side of the family’s finances since his father died in 1994. The report said he wanted to make the shift in managing the assets for two reasons: succession planning, and the need to broaden employee development for the Triad staff of four.

The Massey family estate adds to the more than $4 billion in client assets managed by Signature, which bills itself as handling investment management, estate planning, tax organization and other services for high-net-worth families with more than $10 million in investable assets, the report added.