By Chris Glynn
The Mather Group acquired
$65 million registered investment advisor Seiffert Ltd., followed with a
second purchase of $70 million RIA Semita Asset Management, according to
a press
release.
Founded in 2015, Seiffert is based
in Bethesda, Md., run via founder Perry Seiffert, operator Alexia
Larson, as well as portfolio manager Kathy O’Brien. TMG, which has
$7.5 billion under management, did not disclose the cost of the acquisition.
Larson noted Seiffert will leverage the trading, investment management and back
office of TMG. Chris Behrens, chief executive officer of The Mather
Group, did not respond to a request for comment.
Later, The Mather Group bought
Semita Asset Management, a Houston RIA headed with CEO and chief investment
officer Michael Meagher as well as director of financial planning Justin
Reede. TMG did not reveal the price of the deal. Seiffert, Larson, O’Brien,
as well as Meagher and Reede, will join TMG.
The Mather Group opened in 2011
headed via Stewart Mather. Berman Advisors, a $1 billion
financial planner in Mill Valley, Calif., became the first acquisition
for the private wealth manager, which went on to add 17 RIA businesses following
October 2018.
In April 2022, becoming a serial RIA
acquirer. Private equity firm Vistria Group invested an undisclosed
amount in TMG for its current merger and acquisition pipeline, including
Seiffert and Semita Asset Management. Behrens did not respond on how much more TMG
planned to spend in 2022.