Dallas-based registered investment advisor True North Advisors, with $3.9 billion in assets under management, has acquired Clear Rock Advisors, a wealth management and investment firm managing roughly $470 million in assets under management.

True North said the acquisition, which closed Sept. 17, represents a significant milestone in its strategic growth efforts. Terms of the deal were not disclosed.

“Clear Rock is a perfect cultural fit for True North. Their robust growth and strong base of private investors align seamlessly with our firm,” True North President and co-founder Mark Gehlbach said in a statement. “Their dedication to comprehensive wealth planning and the inclusion of alternative investments as a critical component of client portfolios mirrors our philosophy.”

Clear Rock was founded in 2016 by Charles F. Hall, Jr., Ty Sanders, and Royce Medlin, with a focus on building authentic client relationships and preserving family legacies while empowering future generations. It has offices in Dallas, Austin, and Kerrville.

The integration of Clear Rock will further solidify True North’s presence in the dynamic and rapidly growing Texas market.

“The synergy between our firms is undeniable, and we see immense potential in this combination,” Scott Wood, CEO and co-founder of True North, said in a statement. “We’re confident that this partnership will enhance our service offerings and significantly benefit our clients.”

Clear Rock is known for its service and dedication to its clients, making this acquisition a natural fit, True North said.

“We’re excited about the opportunities this acquisition presents for our clients and our team,” Clear Rock’s Hall said in a statement. “Joining True North allows us to leverage their extensive resources and continue delivering exceptional value to our clients.”

True North said this is its first acquisition since entering into a strategic growth partnership earlier this year with Wealth Partners Capital Group and HGGC’s Aspire Holdings platform.

“Clear Rock exemplifies the key characteristics True North seeks in its partners: integrity, client-focused, fiduciary-minded, and growth-oriented,” WPCG Principal Mac Selverian said in a statement. “We’re thrilled to expand True North’s footprint in the state of Texas and continue building a business focused on its mission of fulfilling lives.”

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