U.S. Capital Advisors acquires $1.4 billion RIA

Houston-based U.S. Capital Advisors has acquired Legacy One Financial Advisors, a registered investment adviser based in Austin, Texas, that manages $1.4 billion.

The company will merge Legacy into its wealth management advisory subsidiary, USCA RIA, which manages $4.1 billion. The new entity will be renamed U.S. Capital Wealth Advisors.

The new RIA, an affiliated U.S. Capital Advisors brokerage division and other related entities will manage almost $9 billion.

Terms of the acquisition were not disclosed.

[More: Biden tax talk seen driving RIA M&A activity]

The post U.S. Capital Advisors acquires $1.4 billion RIA appeared first on InvestmentNews.

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