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Company Details
In 2011, Stewart Mather left Morgan Stanley with $150 million in assets under advisement (AUA) to establish a fee-only fiduciary firm that would serve affluent and ultra-affluent individuals and families. At the time of Stewart's passing in 2020, TMG had grown to more than $6.8 billion in assets under advisement (AUA) and $5.6 billion in assets under management (AUM). The firm had expanded from its Chicago headquarters to include offices in and around Atlanta, Austin, Dallas, Houston, Knoxville, and Philadelphia, along with a presence in the San Francisco Bay area.
The Mather Group positions itself as a national boutique firm providing a "family office lite" service offering. The firm emphasizes:
- Comprehensive wealth management services
- Personalized financial planning
- A client-centric approach
- Expertise in tax preparation and estate planning assistance
- A team-based service model with the wealth advisor as the quarterback
- One simplified fee that includes all services
The Mather Group constructs low-cost, tax-efficient, globally diversified, index-based portfolios. TMG believes it can add value by controlling the controllables, which are fees and taxes. Mather Group minimizes investment costs by utilizing low-cost ETFs and individual stocks and bonds when advantageous. The group maximizes after-tax returns through asset location optimization, tax loss harvesting, and through thoughtful tax planning strategies.
The Mather Group employs a DFA-style approach that balances passivity and activity, primarily utilizing ETFs and individual bond ladders. TMG emphasizes low-cost, tax-efficient, globally diversified, index-based portfolios, optimizing after-tax returns through strategic tax planning and utilization of tools like 55ip and Spider Rock. The firm relies predominantly on in-house managers, except for alternative investments such as private equity and real estate, managed through fund-to-funds structures.
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Acquisition Model
Full Acquisition
Yes. For further information, please contact Alaris.
Yes
For further information, please contact Alaris.
For further information, please contact Alaris.
Mandatory Points of Alignment
Partners will take The Mather Group brand on day one to promote a unified firm.
Partners will be asked to centralize all back-office functions in order to scale the business effectively.
Advisors will manage decisions at the regional level for expenses within their control, such as, T&E, revenue, and staff costs
In its client-centric approach, The Mather Group asks all advisors to adopt the firm's client experience.
The Mather Group places a strong emphasis on practice management. Partners are asked to embrace this philosophy, receiving support in various aspects.
The Mather Group would like all partners to fully divest investment management responsibilities to a centralized investment management team. TMG will create a carefully planned transition timeline lasting from six months to one and a half years, allowing for flexibility to safeguard clients' interests.
Advisor Value Proposition
The Mather Group prioritizes nurturing the next generation, evident in their recent appointment of a Chief Talent Officer dedicated to advancing training and development initiatives. Presently, The Mather Group offers a virtual classroom featuring video modules, and a mentor program, and conducts weekly training sessions for the sales team.
Historically, The Mather Group has surrounded the advisor with ample resources to free up time on the advisor's plate to perform planning functions. These resources have included a tax associate, a tax planner, a client service representative, an investment team member, and a trader. However, they understand advisors could utilize a para-planner to support the business. Mather Group launched its para-planning program at the beginning of 2024, their goal is to have one para-planner support two to three advisors at a time. Mather is taking strides to make this a central resource for all advisors to use.
To give advisors time to focus on client-facing activities, operations will be centralized including wealth management support, compliance, trading, investments, accounting, and finance.
Beyond financial planning and portfolio management, The Mather Group offers advisors resources for tax planning and preparation, family office services, and estate planning. The tax team comprises 25 professionals who handle 2,300 tax returns, specializing in tax filings for clients with assets exceeding $1 million.
The Mather Group has a strong commitment to its organic growth strategy, with dedicated teams in business development, marketing, and inside sales. Their participation in the Fidelity WAS program enables them to match leads with advisors based on client-advisor behavioral compatibility. In addition to driving growth through the custodial referral program, The Mather Group also drives leads internally. This process involves inside sales, filling the top of the funnel, and scheduling meetings with the business development team. The business development team guides clients through the onboarding process, constructs a basic financial plan, and matches them with the most suitable advisor based on behavior, service needs, and geography. This typically entails three meetings: an initial discovery meeting, a discussion on the financial plan framework, and asset mapping and plan implementation. Finally, the wealth manager or advisor receives the lead, a framework for the financial plan, and any additional notes to proceed further. Additionally, The Mather Group offers support to advisors by assisting in deploying an established niche marketing strategy within their local markets, enhancing their outreach and client engagement efforts.
The Mather Group gives partners various support in practice management. This includes defining staff roles and responsibilities within their local offices, conducting employee reviews and performance management, and structuring work weeks effectively. The Mather Group also extends its expertise to assist partners in identifying and executing strategic growth initiatives. Additionally, partners receive guidance in managing their local offices, aligning their efforts with specific key performance indicators to ensure focused and strategic progress.
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