US-based Highland Capital Management has agreed to merge with Argent Financial Group, a move which will expand Highland's geographic reach and extend Argent Financial's portfolio management services.
Following the completion of the process, the combined entity is expected to have over $4bn in assets under management.
The terms of the merger, however, have not been disclosed.
Highland Capital will retain its brand and team, which will continue to be headed by its president Steve Wishnia.
Wishnia will also join Argent Financial Group’s board of directors.
Argent Financial Group founder and chief executive officer Kyle McDonald said that the company will continue doing business through its other subsidiaries under the same brand name.
The present Argent portfolio managers are expected to join Highland during the existing year as the two firms will combine portfolio management resources under the Highland Capital brand name.
Commenting on the integration process, Wishnia said, "We believe there are significant opportunities resulting from the combination of Argent Financial Group and Highland Capital, and that we fit well together, both professionally and culturally."
Founded in 1993, Highland Capital Management operates as an investment advisory firm specializing in the management of equity and fixed income portfolios for clients in the private, corporate and public sectors.
Established in 1990, Argent Financial Group operates as a wealth management firm and offers various financial services including personal finances, investments, retirement, and estate planning.