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.