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Mather Group Snags Another Billion-Dollar Practice and Launches Family Office

By Alex Padalka February 21, 2019

The Mather Group has added another $1 billion-plus wealth management firm, which also marks the launch of the TMG Family Office, the company says.

Park Ridge, Ill.-based Astraeus Advisers is a multifamily office founded by Chris Yannella, who has two decades of experience working with ultra-wealthy clients, according to a press release from TMG.

“Very few multifamily offices provide comprehensive, technology-driven services like the Mather Group,” Yannella says in the press release. “I was also drawn to their fiduciary-only approach and refusal to accept private equity backing. I knew partnering with a fiduciary founder with a next-generation staff would provide the best growth opportunity and business continuity for my clients and my team.”

The companies didn’t disclose the terms of the deal.

The addition of Astraeus follows the October acquisition of Mill Valley, Calif.-based Berman Investment Advisors, another multifamily office with more than $1 billion under management. With the two acquisitions behind it, the Mather Group has officially launched TMG Family Office, which already oversees more than $5 billion for 18 families, the company says. The family office unit’s in-house staff includes lawyers and CPAs, according to the press release.

In addition to financial planning and investment management, the unit offers tax advisory, concierge and lifestyle services, from basic bill payment to aircraft management, TMG says.

The recent acquisition is part of a broader inorganic growth strategy for TMG, which was founded with $150 million in assets under advisement in 2011 and is headquartered in Chicago, according to the press release. And it appears that the firm has no intention of slowing down.

“The momentum of the RIA M&A race is building. And we’ve quickly learned many companies are more inclined to align with a young founder who can provide a stable succession plan for their business, clients and employees,” TMG founding partner Stewart Mather says in the press release. “TMG’s long-term vision and next-gen team are what distinguishes us in a crowded market. We offer something a private equity-backed buyer likely cannot.”