Advisory M&A News – 9/23/24

True North Advisors Announces Acquisition of Clear Rock Advisors

True North Advisors LLC, a Texas-based registered investment adviser with $3.9 billion in assets under Management as of August 31, has acquired Clear Rock Advisors LLC.

Clear Rock is a wealth management and investment firm managing approximately $470 million in AUM, as of August 31, with offices in Dallas, Austin and Kerrville, Texas. The firm was founded in 2016 by Charles F. Hall Jr., Ty Sanders and Royce Medlin.

This is True North’s first acquisition since entering into a strategic growth partnership earlier this year with Wealth Partners Capital Group and HGGC’s Aspire Holdings platform.

“Clear Rock is a perfect cultural fit for True North. Their robust growth and strong base of private investors align seamlessly with our firm,” Mark Gehlbach, True North’s president and co-founder, said in a statement.

Kestra Financial Welcomes SZC Financial Planning & Management

Kestra Financial announced the onboarding of SZC Financial Planning & Management. Established in Montgomery County, Maryland, SZC Financial is led by David Shober and Steve Collins.

The firm is composed of a five-person team which provides financial planning and advisory services, overseeing $200 million in assets under management.

“The personalized support and comprehensive offerings that the Kestra Financial ecosystem provides—while allowing us to maintain our autonomy—is exactly what we’re looking for in a partner firm,” Shober, a founding partner in SZC Financial, said in a statement.

“SZC’s core values fit seamlessly into Kestra’s community of financial professionals, so we knew the firm would be a fit right away,” said Daniel Schwamb, executive vice president and head of business development at Kestra Financial, in a statement. “We’re looking forward to the opportunities this partnership will produce for the firm and for Kestra.”

Ty J. Young Wealth Management Acquires Financial Practice of John Jaboor

Ty J. Young Wealth Management has acquired the financial practice of John Jaboor. The acquisition of the Tiburon, California-based firm expands Ty J. Young Wealth Management’s footprint on the West Coast.

With John Jaboor’s retirement as a longtime adviser in financial services, his clients will now have access to the suite of solutions provided by Ty J. Young Wealth Management.

“We are excited about this acquisition,” CEO Ty Young said in a statement. “It allows us to extend our high-quality services to new clients, enhancing our ability to meet their financial needs with the same excellence and dedication we are known for.”

The acquisition is Ty J. Young Wealth Management’s 39th in the last six years.