SWS Group, a Texas-based financial and investment company announced it had completed its purchase of US investment business ML Stern & Co and its wholly owned subsidiary, Tower Asset Management from a subsidiary of Pacific Life Insurance Company.

The purchase price has not been disclosed.

ML Stern, known for its fixed income bond expertise and retail wealth management, has 112 financial advisors serving high net worth clients and approximately $4 billion in customer assets under custody. Tower Asset Management has an additional $450 million in customer assets under management.

SWS Group is a holding company offering a broad range of investment and financial services through its subsidiaries and listed on the New York Stock Exchange.