The Mather Group (TMG) has continued its growth trajectory with the purchase of Houston-based fiduciary-only firm PartnersInWealth.

Transaction details

The deal adds $350m in assets to TMG’s books, taking its total assets to more than $4.7bn.

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The deal, whose financial terms were not revealed, marks TMG’s first strategic acquisition in the Houston market.

However, its presence in the region dates back to 2015, when it launched its office in the Galleria District.

TMG president and head of Mergers & Acquisitions Patrick Lawlor said: “PartnersInWealth has been a respected leader in the Houston community for decades.”

A family- and employee-owned wealth manager, TMG offers financial planning, tax advice, portfolio management, concentrated stock management, and estate planning services.

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As part of the deal, TMG will absorb the PartnersInWealth team.

PartnersInWealth, offering financial planning and portfolio management since 1984, is TMG’s fourth acquisition this year.

The acquisition is TMG’s seventh deal in the last 18 months.

PartnersInWealth founder James Waters said: “TMG’s cutting-edge technology platform and boutique culture really attracted us to their firm.

“TMG has made the strategic decision to only partner with the brightest fee-only financial planners to build a well-respected national boutique.

“They have no interest in becoming a private equity-backed megafirm. This will allow my next-generation staff to have a long-term seat at the table.”

Other M&A activities

This June, TMG acquired Resource Advisory Services, a Knoxville-based fiduciary-only firm.

The deal brought $116m in assets to TMG.

In the same month, TMG also snapped up $193m business Barnett Financial.

A fiduciary-only firm, Barnett is based in Austin.