STMM to Join Captrust08.23.2019 By Rob Daly Editor-at-Large
South Texas Money Management, Ltd., one of Texas’ leading wealth management firms, has entered into an agreement to join CAPTRUST Financial Advisors. CAPTRUST is a leading independent wealth management and institutional investment advisory firm with existing practices in Austin, Houston, and Dallas. STMM is headquartered in San Antonio with six wealth management offices across Texas and manages $3.7 billion in client assets.
CAPTRUST is an independent, employee-owned firm that provides investment advisory services to high-net-worth individuals, executives, retirement plan fiduciaries, endowments, and foundations. Headquartered in Raleigh, North Carolina, the firm represents more than $9.6 billion of wealth management assets and a significant business providing investment consulting services to institutional clients from its offices located across the U.S.
Jeanie Wyatt served as Chairman of STMM until her passing in April 2019, prior to which she and the STMM Management team, along with her family, chose CAPTRUST to fulfill her succession plan and continue her legacy.
Speaking on behalf of Wyatt’s family and STMM, Jeanie’s stepson Richey Wyatt stated, “When Jeanie, her son Trey, and I, along with the STMM management team mapped out the succession plan that eventually led us to CAPTRUST, we explicitly did so based on two guiding principles: What is best for our clients, and what is best for our employees. Under Jeanie’s leadership, we unanimously agreed in a thorough process that CAPTRUST was our ideal strategic partner.”
“As an employee-owned and community-focused firm with a sizeable wealth management practice and the highest ethical standards, CAPTRUST’s culture matches ours,” said Lance Lahourcade, managing director and STMM partner. “Partnering with CAPTRUST allows the STMM investment strategy to carry forward under our local leadership with no disruption to the services our clients are accustomed to, and we are confident that this partnership is a wonderful opportunity for STMM clients, employees, and the communities we serve.”
In joining forces, STMM’s clients will have access to CAPTRUST’s deep bench of resources, services, and technology that will enhance the client experience. The transaction is expected to close in early September.
“From our first meeting with the team at South Texas Money Management, it was clear that they approach working with their clients with the same level of enthusiasm and care that has become a hallmark of CAPTRUST’s services,” said CAPTRUST founder and CEO J. Fielding Miller. “The team from South Texas Money Management perfectly embodies the spirit and ambition that we envision for the future of CAPTRUST and we look forward to building on this firm’s impressive legacy in Texas for years to come.”
STMM was advised by Park Sutton Advisors, LLC and had legal representation from Dykema.
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