The latest mergers, acquisitions and other corporate actions in the wealth management sector.

The Mather Group, Legacy Consulting Group
The Mather Group, a Chicago-headquartered fee-only investment advisory firm with $17 billion in assets, has partnered with Legacy Consulting Group, a wealth management firm in Plano, Texas, with more than $400 million in AuM.

The deal, for an undisclosed sum, extends TMG's footprint in Dallas-Fort Worth. Legacy clients will gain access to TMG's financial planning, investment management, tax and estate planning services. 

Legacy, founded in 1997, organizes its business around a methodology it calls Financial Life Planning, which ties investment and planning decisions to clients' personal goals. It works with individuals, families and business owners across retirement, tax, estate and risk planning. The firm is led by partners Roger Shake, a financial planner whose practice focuses on clients going through major life transitions, and Steven Wachs, chief investment officer, who oversees the investment process.

TMG serves high net worth individuals and families from 14 offices nationwide. The firm, which was founded in 2011 by Stewart Mather, began an acquisitive growth strategy in 2018. In April 2022, Vistria Group, a private investment firm, put money into TMG to boost growth.

Texas has been a recurring target. TMG opened a Dallas office in 2016 and in 2020 acquired Austin-based Barnett Financial, followed by Houston-based PartnersInWealth. In January, it partnered with The Hogan-Knotts Financial Group of Red Bank, New Jersey.