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September 21, 2009updated 04 Apr 2017 3:55pm

Harris Private Bank Acquires Stoker Ostler Wealth Advisors

Harris also hired two wealth management professionals in the greater Phoenix area

By BBR Staff

Harris Private Bank, a subsidiary of Illinois-based Harris Financial, an integrated financial service organization, has acquired Stoker Ostler Wealth Advisors, an Arizona-based wealth management firm, and plans to expand its operations in the state, as well as in Utah. Additionally, Harris has hired two wealth management professionals in the greater Phoenix area.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
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Matt Miller has joined Harris Private Bank as a senior wealth strategist for the Arizona market. Mr. Miller has 23 years of experience in financial services and wealth management and most recently spent eight years with JP Morgan private wealth management as a senior wealth manager.

Michael Montgomery has joined the Arizona Harris team to lead the new Harris myCFO office, a recently opened office in Scottsdale market, with a focus on delivering a family office solution to ultra high net worth individuals and families. He brings over 17 years of diverse financial services experience to the team, most recently serving as a managing director with Tolleson Wealth Management, a multi-family office and private bank located in Texas.

Terry Jenkins, president and CEO, Harris Private Bank, said: “Stoker Ostler has an exceptional team of professionals and a tremendous reputation for delivering excellent client service that is tailored to each of their client’s needs. One of our goals has been to expand our operations in the Scottsdale market and this acquisition enables us to expand our reach and enhance our capabilities.”

Steve Matteucci, president of western US, Harris Private Bank, said: “Harris is committed to expanding its presence in Arizona, while we continue to grow and protect the prosperity of our clients. Through the addition of Matt Miller, Michael Montgomery and the talented Stoker Osler team, we build on our reputation for having professionals who bring a multi-dimensional perspective to wealth management.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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