True North Advisors, LLC – a Texas-based registered investment adviser (RIA) – announced it has entered into a strategic partnership with Wealth Partners Capital Group (WPCG), a financial services holding company, and HGGC, a firm focused on partnership investing.
WPCG and HGGC have made a minority equity investment in True North to help accelerate its growth via targeted acquisitions. The True North management team remains majority shareholders and will continue to control the decision-making and operations of the firm.
Launched in 2000 by Scott Wood and Mark Gehlbach, True North is one of the fastest-growing RIAs in Texas and one of the top 150 RIAs in the country. Based in Dallas with an additional office in Fort Worth, the firm serves significant business owners, entrepreneurs, and families with wealth planning, investment management and business transaction planning solutions. Plus, True North oversees a growing, turnkey alternative investment platform, Western Alternative Strategies, that offers exclusive access to institutional-quality private investments. The firm manages over $3.3 billion in assets under management (AUM).
True North’s partnership with WPCG and HGGC will enable the firm to remain focused on serving its clients while expanding its presence in Texas and the Southwest, where True North’s leadership and brand are well-established and highly regarded.
This partnership closed January 22, 2024. Financial and legal terms of the transaction will not be disclosed. And Colchester Partners LLC served as the financial advisor to True North. Alston & Bird and Kirkland & Ellis LLP served as legal counsel to True North and the new investor group.
KEY QUOTES:
“We are confident that this partnership will open up new opportunities for growth, creativity, and success.”
— Mark Gehlbach, President and Co-founder of True North
“WPCG’s expertise in identifying strategic opportunities will undoubtedly enrich the depth and breadth of our core offerings, providing our clients with even more comprehensive solutions.”
— Scott Wood, CEO and Co-founder of True North
“With a deep and experienced management team, strong regional brand and a unique approach to planning and investments, True North is poised to become the leading wealth management firm in the Southwest. We are excited to partner with Scott, Mark and the entire True North team in growing the firm and attracting the highest level of advisory talent.”
— John Copeland, Managing Partner of WPCG
“True North is well positioned to expand its platform, and we are pleased to bring additional resources to help the firm continue its momentum through both organic growth and strategic M&A. We look forward to supporting the management team on these and other business-building initiatives in the coming years.” HGGC will invest in True North via Aspire Holdings, a holding company dedicated to investing in the wealth management space.
— Neil White, President of HGGC
