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.
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