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Dallas' True North Advisors Gets Equity Investment from Firms in Florida, California

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Dallas' True North Advisors Gets Equity Investment from Firms in Florida, California


True North Advisors, a Dallas-based registered investment adviser (RIA) with an office in Fort Worth, has entered into a strategic partnership with Wealth Partners Capital Group, a financial services holding company, and HGGC, a firm focused on partnership investing.

Both WPCG and HGGC have made minority equity investments in True North, the Dallas firm said. Financial terms were not disclosed.

“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, said in a statement.

“We’re confident that this partnership will open up new opportunities for growth, creativity, and success,” added Mark Gehlbach, president and co-founder of True North.

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WPCG, based in Palm Beach, Florida, and HGGC, based in Palo Alto, California, said they have made a minority equity investment in True North to help accelerate its growth via targeted acquisitions, the company said. The management team members of True North remain majority shareholders and will continue to control the decision-making and operations of the firm.

More than $3 billion in assets under management

Founded in 2000 by Wood and Gehlbach, True North is one of the fastest-growing RIAs in Texas and one of the top 150 RIAs in the country, the firm said.

True North said it serves significant business owners, entrepreneurs, and families with wealth planning, investment management, and business transaction planning solutions. The firm also oversees a growing, turnkey alternative investment platform, Western Alternative Strategies, that offers exclusive access to institutional-quality private investments.

True North said it has more than $3.3 billion in assets under management.

Targeting expansion in Texas and the Southwest

The firm said its partnership with WPCG and HGGC will allow it to remain focused on serving its clients while expanding its presence in Texas and the Southwest.

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“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,” John Copeland, managing partner of WPCG, said in a statement. “We’re excited to partner with Scott, Mark, and the entire True North team in growing the firm and attracting the highest level of advisory talent.”

Neil White, president of HGGC, said that his firm will invest in True North via Aspire Holdings, a holding company dedicated to investing in the wealth management space.

“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,” White said. “We look forward to supporting the management team on these and other business-building initiatives in the coming years.”

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Dallas, TX

Dallas weather: Storms return this week with large hail and tornado threat

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Dallas weather: Storms return this week with large hail and tornado threat


North Texans will enjoy a brief break today before the next weather system arrives, bringing multiple rounds of storms. A warmup is on the way, with temperatures climbing back into the mid-80s by the weekend.

Monday Forecast

Following a few morning showers in the eastern counties, expect a warm and breezy Monday. High temperatures will climb into the low 80s under partly cloudy skies.

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Tuesday Forecast

As an upper-level low-pressure system moves to the west, scattered storms will move into the region Tuesday afternoon. Some of these storms could become severe, with the primary threats being large hail, damaging winds and isolated tornadoes.

Simultaneously, storms are expected to develop ahead of a dryline to the west. While the tornado threat remains low in this area, any storms that form could produce large hail and damaging wind gusts. 

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7-Day Forecast

Those overnight storms should push out to the east by Wednesday morning, but don’t put the umbrella away just yet. As the main weather system moves directly over us Wednesday afternoon, we’ll likely see another round of scattered storms that could still bring with some hail. Once everything finally clears out Wednesday evening, we can look forward to some drier, much more comfortable air moving back into the area.

Thursday will be noticeably cooler, with high temperatures settling in the mid-60s. However, sunshine and a quick warmup are expected by the weekend. Temperatures will rebound into the 80s on Friday and Saturday.

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The Source: Information in this article comes from the National Weather Service and FOX 4 forecasters.

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Off-duty Dallas officer shoots at suspects allegedly trying to steal his vehicle in Addison, police say

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Off-duty Dallas officer shoots at suspects allegedly trying to steal his vehicle in Addison, police say



An off-duty Dallas police officer shot at a group of people allegedly trying to steal his personal vehicle on Sunday afternoon in Addison, officials said. 

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According to the Addison Police Department, around 2:15 p.m., the off-duty Dallas officer saw a group of people trying to steal his vehicle in a parking lot at 5000 Belt Line Road. He confronted the suspects, “and during the encounter, fired a weapon at the suspects’ vehicle.”

The suspects fled in their vehicle, Addison police said, and it is unknown if any suspects were hit by gunfire.

The investigation is ongoing.



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Dallas dropped the ball on the Wings’ practice facility

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Dallas dropped the ball on the Wings’ practice facility


The Dallas Wings can’t seem to get a win, at least when it comes to the team’s training facility and arena. Not only is its practice facility in west Oak Cliff, approved over the summer and fast-tracked to open ahead of the team’s spring season, now running behind schedule, it is also somehow over budget.

Dallas had already committed $55 million for the team’s practice facility, a price tag we were uncomfortable with from the beginning. At the time, city staff said that was the amount needed to build a training facility with the amenities and infrastructure required for a WNBA team. The city argued there were few viable alternative locations for the practice facility after delays with the convention center, and they were running out of time. Enter the $55 million facility at Joey Georgusis Park.

But now the project needs an additional $27 million to cross the finish line. How did costs increase so much in just a few months? And how did a project that was expedited to meet the team’s deadline end up falling behind and over budget?

City staff attribute the holdup to missed deadlines by the project management firm McKissack and McKissack and new requirements from the WNBA that weren’t part of the original scope. McKissack and McKissack didn’t respond to multiple messages seeking comment for this editorial. Whatever the company’s missteps, the city is ultimately responsible for conducting due diligence and making sure the project stays on track, and it couldn’t deliver what it promised.

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Now the city wants the Wings to take over. The city would cap its total contributions at $57 million, which includes $653,000 in delay reimbursements. The Wings would then cover the remaining costs, at least $27 million, needed to finish the practice facility and agree not to sue Dallas for the delays.

Some City Council members have suggested that Dallas should consider the American Airlines Center for the Wings’ practice facility and arena. But even though the Dallas Mavericks and the Dallas Stars, who currently play at the AAC, are looking to leave, their lease agreements run through 2031. That doesn’t do much for the Wings who need a practice facility now.

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Maybe all of this could have been avoided if the city had more seriously considered existing facilities that could have accommodated the Wings. That’s not to say the team doesn’t deserve a training space that will meet their needs, but repurposing an existing space instead of starting from the ground up might have saved both time and money.

This debacle is frustrating for the Wings, and it also isn’t a good look for the city. If Dallas can’t figure out how to deliver a practice facility that it promised to one of its professional sports teams, how can it hope to attract more businesses and major investments? Anyone watching this unfold would have good reason to question the city’s ability to deliver.

We welcome your thoughts in a letter to the editor. See the guidelines and submit your letter here.

If you have problems with the form, you can submit via email at letters@dallasnews.com



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