Welcome to Financial Advisor IQ

Avalon Advisors Buys Matterhorn Capital Management

December 23, 2016

Houston’s wealth management firm Avalon Advisors has acquired San Antonio-based RIA Matterhorn Capital Management, the Houston Business Journal reports.

Matterhorn, founded by Juan Landa and Stefan Grater in 2005, manages around $220 million in client assets, according to the publication. The deal follows the January departure of Matterhorn’s former principal Charles Hall, who went on to Clear Rock Advisors in Austin. Hall took around $200 million in client assets with him, according to SEC documents cited by the Houston Business Journal that show the firm managing $420 million prior to him jumping ship.

But the motivation for the sale, Landa tells the publication, was “greater resources, products and strategies for our clients.”

Avalon, which was founded in 2001, manages money primarily for high net worth families and individuals, and endowments out of offices in Houston and San Antonio, the Houston Business Journal writes.

Rob McClane, managing director and client advisor at the company, tells the publication that the two firms’ client relationships and investment strategies were complementary.

Meanwhile, shortly before the deal, four families and employees acquired a minority stake in Avalon, the publication writes. After the acquisition, Avalon will have $6 billion in assets under management, and its employees and the families involved will control the majority interest, according to the Houston Business Journal.

The terms of the acquisition were not disclosed.

By Alex Padalka
  • To read the Houston Business Journal article cited in this story, click here.