The Mather Group (TMG), an Illinois-based wealth manager, has acquired RPH Financial Services for an undisclosed sum.

A fiduciary-only firm, RPH focuses on catering to corporate executives in the pharmaceutical industry. The business is based in northeastern Pennsylvania.

As part of the deal, TMG will absorb RPH employees including its founder Robert Hanlon.

TMG founding partner Stewart Mather said: “I have a strong admiration for Robert’s commitment to the fiduciary standard and his incredible experience working with corporate executives.

“Partnering with RPH helps us execute on TMG’s vision of achieving national scale, while retaining a culture only possible at a boutique firm.”

The deal adds $168m in AUM to TMG’s books, increasing its total AUM to $4.6bn.

Hanlon stated: “The Mather Group was the only RIA led by a next-gen team with a long-term vision who refuses to accept private equity investors.

“We heard all the other firms talking about implementing cutting-edge technology, but only TMG was executing on building a proprietary tech platform and using it in real time.”

Earlier this year, TMG launched a new family office unit with the purchase of multifamily office Astraeus Advisers.

TMG currently has operations in Chicago, Houston, Dallas, Atlanta, San Francisco Bay Area, and Philadelphia Area. The firm offers a range of services including tax preparation, portfolio management, concentrated stock management, and estate planning, among others.