Exencial Wealth Advisors, an independent registered investment advisor, has expanded its footprint in Dallas and boosted client assets by $190 million with the acquisition of Plano, TX-based Investors Asset Management.

The combined entity serves 726 households and oversees $980 million in client assets, operating out of offices in Oklahoma City, Dallas, Plano and Old Lyme, CT.

As part of the move, Richard Erwin, who founded IAM in 1983, will join Exencial along with his team and will continue to manage IAM’s investment portfolios. “IAM’s management and staff will remain intact throughout the acquisition,” a spokesperson told Family Wealth Report.

Exencial said both its clients and those of IAM will benefit from new resources, as Exencial operates an investment committee, with asset management and corporate executive financial planning capabilities, while IAM offers growth and income portfolio management with a socially responsible mandate.

Exencial Wealth Advisors and Investors Asset Management are both fee-only firms. The former firm offers financial planning, investment management and tax planning advice, while the latter provides investment management and financial planning services to individuals and organizations throughout the US.