Berkshire Global Advisors acted as financial advisor to Both Argent Financial Group & TMI Trust
Seller Details:
TMI Trust was founded in 1954 as a Texas chartered trust company and is now headquartered in Tampa, FL as a Florida trust company. Since its inception, TMI Trust has grown into a full-service provider of trust and agency services. Through its offices located in Tampa (FL), Atlanta (GA), Fort Worth (TX), Milwaukee (WI) and New York City (NY) TMI Trust delivers exceptional client care across four primary service categories: trustee, escrow, and loan agency; IRA and custody; family office and investment partnerships; and specialized trust services.
Buyer Details:
Argent Financial Group (“Argent”) is a leading, independent, fiduciary wealth management firm. Responsible for more than $40 billion in client assets, Argent provides individuals, families, businesses and institutions with a broad range of wealth management services, including trusts and estate planning, investment management, retirement plan consulting and administration, ESOPs, funeral and cemetery trusts, charitable organization administration, oil and gas (mineral) management and other unique financial services. Headquartered in Ruston, Louisiana, Argent was formed in 1990 and traces its roots back to 1930.
Transaction Summary:
With this merger, Argent will have responsibility for more than $65 billion in client assets and three million mineral acres, and the company’s headcount will grow to 425 professionals operating 44 offices across 38 markets in 15 states, including Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, New York, North Carolina, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas and Wisconsin. TIM will now operate as a wholly owned subsidiary of Argent under its new name Argent Institutional Trust Comany.