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Financial Planning > Trusts and Estates > Trust Planning

Westwood Holdings to Buy McCarthy Group Advisors

By Michael S. Fischer

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Westwood Holdings Group Inc. has reached an agreement to acquire McCarthy Group Advisors LLC, an Omaha-based RIA, the firm announced Wednesday. It said the transaction was anticipated to close in the fourth quarter, and was expected to be accretive to the earnings of Westwood Holdings Group.

McCarthy, which managed more than $1 billion in private wealth and institutional client assets as of June 30, serves as the advisor to the McCarthy Multi-Cap Stock Fund, a no-load mutual fund. According to the statement, McCarthy is expected to operate as an Omaha branch of Westwood Trust, a wholly owned subsidiary of Westwood Holdings Group. Westwood had total assets under management of $9.7 billion, including $1.8 billion under management at Westwood Trust, as of June 30.

Rich Jarvis, MGA’s founder and chief investment officer, will join Westwood’s investment team, the statement said.

“We have been seeking opportunities to expand the Westwood Trust platform into additional markets and have found an excellent fit in McCarthy Group Advisors,” Brian Casey, Westwood’s president and chief executive, said in the statement. “McCarthy is one of the leading wealth management firms in the Omaha market and is managed by an outstanding group of professionals who share our philosophy of providing clients with superior long-term investment performance and attentive service.”

Dallas-based Westwood Holdings Group, a NYSE-listed company, manages investment assets and provides services for its clients through two subsidiaries. Westwood Management Corp. is an RIA that provides investment advisory services to corporate pension funds, public retirement plans, endowments, foundations, the WHG Funds, other mutual funds and clients of Westwood Trust. Westwood Trust provides trust services and participation in common trust funds that it sponsors to institutions and high-net-worth individuals.

Michael S. Fischer ([email protected]) is a New York-based financial writer and editor and a frequent contributor to WealthManagerWeb.com.

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