Strategic Acquisition Adds $470M in AUM and Strengthens Client-Centric Approach

True North Advisors, LLC (“True North”), a Texas-based registered investment adviser (“RIA”) with $3.9 billion in Assets Under Management (“AUM”) as of 8/31/24, has acquired Clear Rock Advisors, LLC (“Clear Rock”), a wealth management and investment firm managing approximately $470 million in AUM (as of 8/31/24) with offices in Dallas, Austin, and Kerrville, Texas.

Clear Rock was founded in 2016 by Charles F. Hall, Jr., Ty Sanders, and Royce Medlin, with a focus on building authentic client relationships and preserving family legacies while empowering future generations.

This acquisition represents a significant milestone in True North's strategic growth efforts. “Clear Rock is a perfect cultural fit for True North. Their robust growth and strong base of private investors align seamlessly with our firm,” said Mark Gehlbach, True North President and Co-founder. “Their dedication to comprehensive wealth planning and the inclusion of alternative investments as a critical component of client portfolios mirrors our philosophy.”

The integration of Clear Rock will further solidify True North's presence in the dynamic and rapidly growing Texas market. “The synergy between our firms is undeniable, and we see immense potential in this combination,” added Scott Wood, CEO and Co-founder of True North. “We are confident that this partnership will enhance our service offerings and significantly benefit our clients.”

Clear Rock is renowned for its exceptional service and dedication to its clients, making this acquisition a natural fit. “We are excited about the opportunities this acquisition presents for our clients and our team,” said Charles F. Hall, Jr., Chairman and Co-founder of Clear Rock. “Joining True North allows us to leverage their extensive resources and continue delivering exceptional value to our clients.”

This is True North’s first acquisition since entering into a strategic growth partnership earlier this year with Wealth Partners Capital Group (“WPCG”) and HGGC’s Aspire Holdings platform.

“Clear Rock exemplifies the key characteristics True North seeks in its partners: integrity, client-focused, fiduciary-minded, and growth-oriented,” said Mac Selverian, WPCG Principal. “We are thrilled to expand True North’s footprint in the state of Texas and continue building a business focused on its mission of Fulfilling Lives.”

The acquisition closed September 17, 2024. Clear Rock was represented by MarshBerry in the transaction. Financial and legal terms of the deal will not be disclosed.

About True North Advisors

True North Advisors is a privately owned Multi-Family Office serving significant business owners, entrepreneurs, and families with wealth planning, investment management and business transaction planning solutions. In addition, True North oversees a growing, turnkey alternative investment platform, Western Alternative Strategies, that offers exclusive access to institutional-quality private investments. The firm has $3.9 billion in Assets Under Management (as of 8/31/24). To learn more, please visit www.truenorthadvisors.com.

About Wealth Partners Capital Group

Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which invests in and partners with select leading wealth management firms. WPCG assists its partner firms by identifying and integrating like-minded wealth advisers who seek access to expanded business capabilities, strategic growth and/or customized transition solutions. For more information, please visit www.wealthpcg.com.

About HGGC

HGGC is a values-driven, partnership-focused private investment firm. The firm’s ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long term value together. HGGC invests in technology, business services, financial services and consumer enterprises generally valued between $200M - $1.5B+. The firm is based in Palo Alto, CA and manages over $6.9 billion in cumulative capital commitments. Since its inception in 2007, HGGC has completed more than 600 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $71 billion. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. For more information, including a complete list of current and former investments, please visit www.hggc.com.

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