Dallas, TX
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 Parks and Recreation will distribute 25,000 all-access passes that give Dallas teens free admission to cultural and recreational attractions across the city throughout July.
Passes will be available beginning June 29 on a first-come, first-served basis at City of Dallas recreation centers.
The program, now entering its fifth year, is open to Dallas residents ages 13 to 17. City leaders say the initiative, which launched in 2021, helps promote positive engagement opportunities for teens and reduce crime during the summer months.
Teens must register in person and provide proof of Dallas residency to receive a pass.
The city says the program is made possible through partnerships with local cultural, recreational, and entertainment organizations.
Participating attractions include:
- African American Museum
- Bahama Beach
- Bath House Cultural Center
- Latino Cultural Center
- South Dallas Cultural Center
- Oak Cliff Cultural Center
- Dallas Museum of Arts
- Community Art Pop Up Cultural
- Dallas Arboretum
- Dallas Holocaust and Human Rights Museum
- Dallas Park and Recreation Summer Fitness
- Dallas Zoo
- Frontiers of Flight Museum
- Golf Dallas
- Reunion Tower
- Shakespeare of Dallas
- State Fair of Texas
- Southern Skates Roller Rink
- Texas Discover Garden
- The Sixth Floor Museum At Dealey Plaza
- Trinity River Audubon
A full list of participating attractions and recreation centers distributing passes is available at DallasParks.org
At least four people were injured after a vehicle drove into a crowd of people in Dallas on Thursday evening.
Dallas police responded to an “Assist Officer call with an Ambulance” at approximately 7 p.m. in the 300 block of West Davis Street.
Authorities learned that a vehicle drove into a crowd, injuring multiple people. At least four have been taken to a local hospital for treatment. Police said no one was in critical condition.
The driver of the vehicle was arrested at the scene, police said. Authorities are still working to determine if this driver could have been drunk or if this could have been a medical episode.
According to police, there is no indication that the crash was terrorism related.
The investigation is ongoing.
This story will be updated as we learn more.
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