Fayetteville-based financial services firm Cabana Holdings announced an acquisition Tuesday (May 7) that will increase its assets under management (AUM) by more than 16%.
Cabana has acquired Texas-based Fund Architects LLC. The agreement takes Cabana’s RIA (registered investment adviser), Cabana Asset Management, from roughly $730 million to $850 million in AUM, according to a news release announcing the deal.
Financial terms were not disclosed.
Ranked the nation’s fastest-growing RIA by Financial Advisor magazine in the publication’s 2018 RIA survey, Cabana Asset Management provides risk-based portfolio construction, money management and sub-advisory services to the investment industry.
“We’ve known the principals at Fund Architects for some time and are very impressed with their approach to distribution and serving the investment community,” says Chadd Mason, Cabana CEO and co-founder, said in a statement. “Like us, they appreciate the value of a process-driven money management approach, coupled with verified and transparent performance returns.”
Cabana expects to assume Fund Architects’ business currently in place, according to the release, and has named Daniel Snover, previously vice president and deputy CIO of Fund Architects, Cabana’s director of institutional sales. William Davis, Fund Architects’ CMO, will assist with Cabana’s institutional business development strategy.
Cabana Holdings offers a combination of traditional financial planning, retirement plan consulting, legal counsel, and wealth management services. The firm has additional offices in Little Rock, Plano, Texas, and Denver, Colo.