Argent Lures $600M Wealth Management Outfit
AmeriTrust Companies is joining the trust-based wealth management firm Argent Financial Group, ThinkAdvisor writes.
The Tulsa, Okla.-based AmeriTrust Companies is made up of the trust company AmeriTrust Corporation and the financial planning firm AmeriTrust Investment Advisors, according to the publication.
Financial planners at AmeriTrust manage around $600 million, according to ThinkAdvisor. The Ruston, La.-based Argent is a wealth management firm that also includes oil and gas rights management, according to the publication. With the addition of AmeriTrust, Argent’s client assets will reach $19 billion, ThinkAdvisor writes.
“AmeriTrust’s fiduciary approach to wealth management meshes seamlessly with our business philosophy and, like Argent, AmeriTrust’s clients are accustomed to a high level of personal service,” says Kyle McDonald, Argent Financial founder and CEO, according to the publication. “This is a big win for both of our companies and our clients.”
AmeriTrust founder and CEO Harvie Roe will continue managing AmeriTrust, ThinkAdvisor writes. Roe and fellow owner and director of the firm Jerry Hudson will sit on the board of the newly-merged trust company, according to the publication. AmeriTrust and Argent Financial member firm Heritage Trust Company of Oklahoma City will be run under one trust charter in the state but will operate as Heritage in Oklahoma City and AmeriTrust in Tulsa, ThinkAdvisor writes.
“This transaction is another step forward in our strategy to partner with other fiduciary companies and management teams who share our culture and business philosophy,” Bond Payne, chairman of Heritage Trust, says in statement cited by the publication.