Dallas, TX

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

Published

2 years ago

January 29, 2024

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.

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.

“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

Mavericks hope has them high in NBA power rankings

Published

14 hours ago

October 21, 2025

Press Room

Mavericks hope has them high in NBA power rankings

Dallas Mavericks forward Dwight Powell and guard Jaden Hardy react to a play against the Los Angeles Lakers. / Lucas Peltier-Imagn Images

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Dallas, TX

Dallas considers combining bigger, regional libraries with housing, retail projects

Published

1 day ago

October 20, 2025

Press Room

Dallas considers combining bigger, regional libraries with housing, retail projects

Dallas leaders are exploring ways to combine new regional libraries with affordable housing and community spaces.

City staff presented the Quality of Life, Arts and Culture Committee on Monday with early concepts for two library projects. The North Oak Cliff library, in District 1 in southern Dallas, and the Park Forest library, in the north side’s District 13, could serve as a mixed-use developments with housing, public amenities and updated library facilities.

The new libraries will be open longer hours and have expanded services, city officials said.

City Library Director Manya Shorr said the North Oak Cliff project will replace an existing library on the same site, while Park Forest will relocate to a new parcel. Both projects are still in early design and financial testing phases, and staff plan to return with more detailed recommendations, including development structures and revenue-sharing options.

The city closed the Skillman Southwestern Library weeks ago and plans to shut down four more in its move to a regional model.

Consultants from CBRE, a commercial real estate services and investment firm, and city staff presented findings and potential models based on case studies from other cities across the country where libraries have been combined with housing or retail.

Each of the reference projects included affordable housing, with some also offering senior or market-rate units and shared amenities, such as youth spaces, job training centers or creative studios.

According to consultants, the next phase of planning will focus on testing design options against financial feasibility.

Park Forest Branch

At the Park Forest site, the team is considering whether the project could include senior housing, an option they noted may be more readily accepted by surrounding neighborhoods. They also cited the need for additional zoning consultation as the concept moves forward.

Deputy Mayor Pro Tem Gay Donnell Willis, who represents the district where the library is located, expressed enthusiasm for combining libraries with housing, calling it “a way to adapt what might be right for the neighborhood and the city overall.”

Preliminary plans for the Park Forest Branch Library in Dallas presented during the Quality... — Preliminary plans for the Park Forest Branch Library in Dallas presented during the Quality of Life, Arts and Culture committee on Monday, Oct. 20, 2025.
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She emphasized that the project should remain centered on the library’s mission while exploring how a residential component might help generate revenue for ongoing operations.

Committee members discussed potential funding models, including partnerships through the city’s Housing Finance Corporation or the Public Facility Corporation, which could help leverage affordable housing incentives. They also raised questions about Senate Bill 840, a new state law affecting development height and proximity standards, noting that staff will need to assess its implications for both sites.

North Oak Cliff Branch

Council member Chad West, who represents North Oak Cliff, underscored the importance of community design, including access to green space and outdoor gathering areas. He noted that the surrounding area is considered a park desert and one of the city’s heat islands.

“There needs to be, even if it’s small, some type of incorporated green space,” West said.

Council members voiced broad support for continuing the work, while emphasizing transparency with residents, maintaining the character of the neighborhoods and a clear focus on the libraries themselves.