The San Antonio wealth management firm founded by Jeanie Wyatt in 2000 announced today that it has entered into an agreement to merge with a Raleigh-based advisory firm.
South Texas Money Management (STMM), a leading wealth management firm headquartered in San Antonio, will join CAPTRUST Financial Advisors (CAPTRUST) in a transaction expected to close in early September.
Founded and led by Wyatt until her death in April, STMM has its headquarters in San Antonio and six other wealth management offices across Texas. STMM manages $3.7 billion in client assets.
Wyatt was considered a pioneer and national force in the banking and investment sector and strived to promote and mentor other female leaders in the male-dominated field. Prior to her passing at age 65, Wyatt chose CAPTRUST to fulfill her succession plan and continue her legacy.
“When Jeanie, her son Trey, and I, along with the STMM management team mapped out the succession plan that eventually led us to CAPTRUST, we explicitly did so based on two guiding principles,” stated Wyatt’s stepson Richey Wyatt. “What is best for our clients, and what is best for our employees. Under Jeanie’s leadership, we unanimously agreed in a thorough process that CAPTRUST was our ideal strategic partner.”
CAPTRUST is a wealth management and institutional investment advisory firm with offices in Austin, Houston, and Dallas. The employee-owned firm provides investment advisory services to high-net-worth individuals, executives, retirement plan fiduciaries, endowments, and foundations.
CAPTRUST represents more than $9.6 billion of wealth management assets and a significant business providing investment consulting services to institutional clients from its offices located across the U.S.
“From our first meeting with the team at South Texas Money Management, it was clear that they approach working with their clients with the same level of enthusiasm and care that has become a hallmark of CAPTRUST’s services,” stated J. Fielding Miller, CAPTRUST founder and CEO. “The team … perfectly embodies the spirit and ambition that we envision for the future of CAPTRUST and we look forward to building on this firm’s impressive legacy in Texas for years to come.”
Lance Lahourcade, managing director and STMM partner, said that partnering with CAPTRUST allows the STMM investment strategy to continue with no disruption to the services to which its clients are accustomed.
“We are confident that this partnership is a wonderful opportunity for STMM clients, employees, and the communities we serve,” he stated.