US-based independent wealth management firm Exencial Wealth Advisors has acquired Investors Asset Management (IAM), for an undisclosed sum.
Acquisition of the Texas – based IAM, which serves more than 200 households in twenty-six states with over $190m in total client assets, will strengthen the acquirer’s regional presence and footprint in the greater Dallas area.
Following completion of the acquisition, the integrated entity will have $980m in client assets and serves 726 households.
Based on the agreement, IAM founder Richard Erwin will join Exencial along with his team and continue to manage IAM’s investment portfolios using his firm’s SELECT methodology.
As a result of the partnership, clients of both parties will benefit from new resources and complementary skill sets at their disposal.
Established in 1983, IAM provides growth and income portfolio management based on a unique methodology with a socially responsible mandate.
Exencial Wealth Advisors caters fee only, objective financial planning, investment management and tax planning counsel to senior corporate executives, entrepreneurs, their families and institutions.