The Mather Group, a Chicago-based wealth administration agency with 12 places of work nationwide and greater than $7.5 billion in belongings beneath administration, introduced it has acquired two registered impartial advisors with a mixed complete of $136 million in belongings beneath administration.
Based in 2011 by Stewart Mather, the agency launched into an acquisitive progress technique in 2018, including 17 corporations since October of that 12 months. In April of this 12 months, a major personal fairness funding by Vistria Group allowed TMG to additional ramp up efforts to develop its companies and geographic attain and add 4 new corporations in as many months.
On Tuesday, TMG introduced it acquired Seiffert Ltd., a $65 million AUM state-registered RIA in Bethesda, Md. Co-owners Perry Seiffert and Alexia Larson will be part of TMG, together with portfolio supervisor Kathy O’Brien.
Two days later, the agency introduced the addition of Houston-based Semita Asset Administration, together with CEO/CIO Michael Meager and Monetary Planning Director Justin Reede, with $71 million in AUM.
Phrases of the offers weren’t disclosed, however TMG doesn’t supply fairness to incoming advisors.
In response to TMG CEO Chris Behrens, the geographical areas of the brand new additions, in addition to traits of every agency made them engaging targets.
“They have been simply pure additions to our current places of work that we have now in these two areas,” he mentioned. “They’re each terrific wealth administration groups that basically match the TMG mannequin of being a monetary planning agency first to fulfill purchasers’ targets and goals.”
The brand new corporations will undertake The Mather Group branding and instantly swap to TMG’s expertise platform. Seiffert and Meager each expressed an eagerness to reap the benefits of the agency’s administrative help and in-house companies resembling asset and tax administration, danger evaluation and property planning steering.
“With a broader, deeper workforce of pros supporting us, we are able to focus much more on our consumer relationships and customized service wants as a substitute of being concerned within the many behind-the-scenes day by day actions of managing a personal enterprise,” mentioned Meager. “All this, mixed with TMG’s progress trajectory, enhances our means to serve purchasers’ households effectively into the long run.”
“Along with including worth for purchasers, this offers me the consolation to start placing plans in movement for my very own retirement,” mentioned Seiffert, “understanding that Alexia gained’t shoulder the total accountability of managing each our purchasers and our enterprise operations.”
TMG has grown its AUM from $1 billion to just about $8 billion and quadrupled its consumer base over the past 5 years, in keeping with Behrens. “That’s a results of not solely M&A, however our inside, natural lead era efforts to win new purchasers,” he mentioned. “We imagine that {the marketplace} has a robust urge for food for our service providing and use each of these channels for successful new purchasers to develop our enterprise.”
At present, TMG has one other seven or eight corporations at numerous levels in its M&A pipeline, anticipated to shut over the approaching months—together with one which’s set to be introduced subsequent week, Behrens mentioned.
“We predict that there are a number of purchasers who are usually not purchasers but at TMG who actually do need our service providing and the worth that our workforce is ready to deliver to them,” he mentioned. “And our objective and goal is to proceed to develop and scale till we will not do this anymore, however we do not ever see that ending.”
