The Mather Group has made its third acquisition in less than a year, adding a northeastern Pennsylvania wealth management practice, TMG says.
Founded by Robert Hanlon, RPH Financial Services oversees $168 million, primarily for corporate executives in the pharmaceuticals industry with a focus on Johnson & Johnson employees, according to a press release from TMG.
TMG founding partner Stewart Mather says in the press release that bringing on RPH will help TMG with its plans to develop a nationwide footprint.
The companies didn’t disclose the terms of the deal.
“We had nearly one hundred parties interested in partnering with us,” Hanlon says in the press release. “The Mather Group was the only RIA led by a next-gen team with a long-term vision who refuses to accept private equity investors."
Hanlon says his team heard other firms talking about implementing cutting-edge technology, "but only TMG was executing on building a proprietary tech platform and using it in real time. We’re confident TMG will best position our clients and staff for the rapid change our industry is undergoing.”
In February, Chicago-based TMG launched TMG Family Office, following the acquisition of an Illinois-based multifamily office overseeing more than $1 billion.
Last October, TMG nabbed a California-based multifamily office with more than $1 billion.
Founded in 2011, TMG now has 70 employees working out of offices in Houston, Dallas, Atlanta, the San Francisco Bay area and the Philadelphia area.
The firm oversees $4.6 billion in assets under management and more than $7 billion in assets under advisement, the company says.