Dallas-based investment advisory firm SCM Advisors has merged its operation with Robertson, Griege & Thoele (RGT), a wealth management firm of the same region.
SCM founder and president John Bricker Jr., was quoted by bizbeatblog.dallasnews.com as saying, "The impetus for this merger was to provide a succession plan for our clients and staff."
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"As I considered various options, I was impressed with RGT’s people, culture, values and commitment to its clients and employees," Bricker Jr., told the publication.
Under the terms of the agreement, Bricker will become a partner at RGT. RGT will retain SCM Advisors’ employees and will assume client assets of $600m.
RGT chief investment officer Chuck Thoele said, "Pete and his firm have developed deep client relationships and provide advice across a wide range of financial issues, including portfolio management, structural planning and charitable giving."
Established in 1985, RGT manages more than US$3 billion of client assets.
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