Connect with us

Dallas, TX

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

Published

on

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.

Advertisement

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.

Advertisement

“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.”

Get on the list.
Dallas Innovates, every day.

Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.

Advertisement

R E A D   N E X T

  • UNT and Dallas-based communications tech company COMSovereign are partnering to develop and launch a new 5G edge-centric infrastructure test platform, funded in part by a grant from the North Central Texas Council of Governments. With the new program, UNT’s Dr. Kamesh Namuduri says his team will “be able to expand our focus on wireless connectivity and research into Advanced Air Mobility technologies including UAVs, where UNT is already actively engaged with an expanding network of industry and government partners.”

  • A 100th birthday is a big deal—especially when every Texan can join the party. So to celebrate its 2023 centennial, Texas Parks & Wildlife is hosting a photo contest almost all year long. And some of the best images may be waiting for us at the end of the year right here in North Texas, when Palo Pinto Mountains State Park opens 80 miles west of Fort Worth.

  • In 2023, founders searching for venture capital found fewer investors and less money. Pitchbook reports that the number of U.S. deals in the first three quarters of 2023 was just slightly higher than the number made during the same period in 2018.   In North Texas, it was a similar story. But even as investment markets have tightened, Dallas-based Beyond Capital is working to reverse that trend by investing in more startups. In the first quarter of 2024, it’s opening its third fund to new investors.   Beyond Capital looks for startups in need of Seed to Series A investment. What…

  • PMY Group Acquires True North to 'Transform' K-12 Public Education Consulting

    North Texas-based PMY Group—a global tech solutions company “well recognized in the sports and venues industry”—said it’s diversifying its business into other infrastructure classes. In July, PMY announced its first institutional capital raise since the company’s 2009 founding in Melbourne by Paul Yeomans.

  • The North Texas Performing Arts (NTPA) has launched the NTPA Deaf Theatre, the first in North Texas and one of the first of its kind nationally. It has appointed Daymond Sands as the Deaf Theatre’s new Program Director. Sands will produce the Deaf Theatre’s first major production, “It’s a Wonderful Life,” which hits the stage in November. He’s currently directing a cast of 22 actors in the adaptation of the classic story, according to a news release. Award-winning arts educator and mentor Sands, a Dallas native who first took the stage at age five, recently received the Art Centre of…



Source link

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Dallas, TX

What we learned in FC Dallas' win over Memphis

Published

on

What we learned in FC Dallas' win over Memphis


Photo via FC Dallas

FC Dallas picked up another much-needed win on Tuesday night, a US Open Cup Round of 32 win over USL Championship side Memphis 901.

This morning, as I am sitting at a pub in the Pittsburgh Airport, I thought I would take a few minutes to discuss the comments made by head coach Nico Estevez and the game’s goal scorer, Logan Farrington, after last night’s win. I’m also going to take a quick look back at a game that FC Dallas had control over…for the most part.

This won’t be our normal breakdown of the game since we do need to quickly turn our attention to Saturday’s game with Austin FC.

For a coach who needed to go for it in a Cup tournament game at home against a lower-division team, Estevez really didn’t push things all that much with his lineup choice. He stuck it out once more with the 3-4-3, as he reintroduced Jesus Ferreira and Asier Illarramendi back into the lineup after the two weren’t ‘fully fit’ enough, Nico’s words there to do so in Toronto last week.

Advertisement



Source link

Continue Reading

Dallas, TX

Dallas moved city workers into an unpermitted building. So why is the truth so elusive?

Published

on

Dallas moved city workers into an unpermitted building. So why is the truth so elusive?


We had hoped that the Dallas City Council’s Ad Hoc Committee on General Investigating & Ethics would get to the bottom of how city permitting workers were moved into an unpermitted building. What council committee members received from city staff was obfuscation, incomplete timelines and conflicting explanations. Quite properly, committee members have asked the city auditor to investigate.

Inexplicably, city officials didn’t obtain final occupancy approval for Dallas’ new permitting office along Stemmons Freeway before workers moved into the 11-story tower late last year. Employees were ordered back to their old office in Oak Cliff months later, and the new building was closed after fire and safety violations were revealed.

But last week, Assistant City Manager Majed Al-Ghafry provided a different reason to the council committee, one that fails the smell test. Al-Ghafry said he decided to close the building and return staff to their former offices after a few employees wandered from their floor to other unfinished floors. He said the building had a valid temporary certificate of occupancy and that the employees weren’t in an unsafe building. “In full transparency and confidence, there wasn’t any life and safety issues that caused me to do this,” Al-Ghafry told the committee.

Well sort of. Only the fifth floor where the permitting employees were located had a temporary occupancy permit, but final approvals from the fire department and other inspectors weren’t obtained before employees moved in. Al-Ghafry previously said employees were warned not to roam beyond the first and fifth floors. However, Development Services Department Director Andrew Espinoza said employees had been working on the second and third floors between January and March. Espinoza also said no employees were disciplined for being on other floors.

Advertisement

Opinion

Get smart opinions on the topics North Texans care about.

Consider this revisionist history. Development Services employees began moving into the building in December. In January, an employee’s spouse filed a complaint with the state fire marshal’s office alleging a series of safety issues with the facility. In February and early April, city fire safety inspection reports discovered fire code violations. Al-Ghafry said employees started moving out of the building on April 9 after it was determined that the fire alarm didn’t sound on all floors.

Al-Ghafry, however, didn’t mention roaming employees in his email to the mayor and council on April 9. Instead, he wrote that “this move [from the new building] is the result of additional facility improvements recently identified at their current location.” He specifically cited additional work needed on the fire suppression system, IT equipment, connectivity, elevators, and other improvements.

It is embarrassingly ironic that the city’s permitting unit, long criticized for failing to deliver construction permits in a timely manner, failed to properly obtain permits for its own building before moving employees into it. More distressing is that grossly inadequate, misleading responses continue to keep us all in the dark about what happened and why, an all too common pattern at City Hall when mismanagement occurs.

Advertisement

Accountability is necessary. The city auditor must unravel the truth and do it quickly.

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



Source link

Continue Reading

Dallas, TX

Live updates: Dallas Mavericks take on OKC Thunder in Game 1 of Western Conference semis

Published

on

Live updates: Dallas Mavericks take on OKC Thunder in Game 1 of Western Conference semis


It’s time for Round 2.

Luka Doncic, Kyrie Irving and the Dallas Mavericks are on the road against Shai Gilgeous-Alexander and the Oklahoma City Thunder for Game 1 of their Western Conference semifinal Tuesday night. Follow along for live updates, game stories and more from our reporters on the scene in Oklahoma City.

Game updates

— Game 1 is scheduled to tip off at 8:30 p.m. at Paycom Center.

Advertisement

Advertisement

Pregame updates

Mavericks

Be the smartest Mavericks fan. Get the latest news.

Or with:

Advertisement

Pregame reading

— What the Mavs’ goal should be in Game 1 against the Thunder, according to Dirk Nowitzki

Advertisement

— Mavericks-Thunder predictions: Will Dallas be making a return trip to the West finals?

Advertisement

— Why you might hear Oklahoma City fans barking during Mavs-Thunder NBA playoff series

— Mavericks’ Luka Doncic ‘not surprised’ by Jalen Brunson’s playoff dominance with Knicks

Advertisement

— Why has Mavericks’ Kyrie Irving found peace in Dallas?

— Even without Maxi Kleber, the Mavericks have a favorable matchup against OKC Thunder

— Mavs’ big men, specifically Daniel Gafford, will have increased opportunity vs. Thunder

— Scouting Mavericks-Thunder: Which MVP candidate has the edge in Western Conference semis?

Advertisement

Related Stories

Advertisement
View More
    Mavericks’ Luka Doncic ‘not surprised’ by Jalen Brunson’s playoff dominance with Knicks
    Mavericks should have one goal ahead of Game 1 vs. OKC, according to Dirk Nowitzki

Find more Mavericks coverage from The Dallas Morning News here.





Source link

Continue Reading

Trending