The Mather Group (TMG) has acquired San Diego-based registered investment adviser (RIA) firm Avenue Advisors for an undisclosed amount.
Led by managing member Jean Sinclair, the acquired entity had approximately $85m in assets under management (AUM) as of end of March 2022.
Sinclair will join TMG as part of the deal.
The combination with TMG will enable Avenue Advisors to solve long-term succession planning issues faced by small RIAs.
Commenting on the deal, he said: “Being able to leverage the broad and deep technical experience of TMG’s highly credentialed professionals, having a team of people supporting me and providing greater accessibility for clients, and tapping into a robust technology platform will all be beneficial.”
TMG president and head of Mergers & Acquisitions Patrick Lawlor said: “Jean is a great example of the type of experienced advisor who fits in seamlessly at TMG.
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“She takes a planning-first approach with her clients and is focused on providing guidance based on what’s best for each client, given their unique circumstances. That philosophical alignment creates the strong foundation for a successful partnership.”
Chicago-headquartered TMG provides in-house services, including financial planning, portfolio management, concentrated stock management, tax advice and preparation, estate planning guidance and risk assessment.
The firm, which has 11 offices across the US, manages more than $8.2bn in assets.
TMG recently secured a strategic investment from The Vistria Group to bolster its service offering and expand its business to new markets
The deal will also enable the firm to remain committed to ‘integrity, transparency, and the high-touch, tech-forward client experience’, it said.
Last December, TMG expanded its footprint to Nashville with the acquisition of Eugenias Advisory Group.