The latest M&A deals in wealth management across North America.

State Street, Charles River
US-based State Street has completed its purchase of Charles River Systems, which the firms said enables it to build a platform connecting the front-, middle- and back-office with one provider. 

State Street also unveiled a Charles River Development Client Advisory Board to offer strategic advice about how the platform is developed, and how to shape products and services.

Jenny Tsouvalis, senior vice president and enterprise head of investment reporting, operations and applications for OMERS Administration Corporation, will chair the advisory board.

John Plansky has been named chief executive of Charles River Development. Plansky has led State Street’s Global Exchange business for the last 18 months. He is a former partner at PricewaterhouseCoopers and Booz & Co.

The Mather Group
The Mather Group, a US-based boutique wealth management firm with 55 employees across four offices, has acquired Berman Investment Advisors.

Berman Investment Advisors is a financial planning firm with over $1 billion in assets under management. It is located in Mill Valley, California and it serves ultra-high net worth individuals and families.

The transaction expands TMG’s footprint into the San Francisco Bay Area and brings its total AUM to $2.8 billion.

The acquisition closed on October 1, under the advisement of Park Sutton Advisors. The financial terms of the deal were not disclosed.