The Mather Group (TMG), a Chicago-based fiduciary-only firm, has snapped up Knoxville-based peer Resource Advisory Services, marking its second deal in a week.

The addition of $116m Resource Advisory, which offers financial planning and portfolio management increases TMG’s AUM to more than $3.9bn.

Resource Advisory founder David Lewis has highlighted the harmony of the client service culture and business ethics of the two businesses.

Lewis noted: “TMG’s unrivalled technology platform and boutique culture really attracted us to their firm.

“I’m thrilled to partner with a next-generation founder who isn’t private-equity backed, and feel very confident TMG’s long-term vision will support my advisers into the future.”

Financial details of the deal, which is TMG’s third acquisition this year, were not revealed.

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TMG founding partner Stewart Mather said: “David Lewis has been a leader in the Knoxville community for many decades. His commitment to a fee-only fiduciary approach, from the time fee-only financial planning began to be a known term, offers a tremendous foundation for TMG to grow in this market.”

TMG offers tax preparation, tax advice, portfolio management, concentrated stock management, estate planning, and financial planning services to HNW clients.

With headquarters in Chicago, the business has offices in Atlanta, Houston, Dallas, Austin, San Francisco Bay Area, as well as Philadelphia Area.

Last week, TMG acquired Austin-based fiduciary-only firm Barnett Financial with $193m in assets.