RUSTON, La., Jan. 8, 2013 /PRNewswire-iReach/ -- Memphis, TN - based Highland Capital Management, LLC, has agreed to merge with Argent Financial Group of Ruston, LA., in a move that significantly broadens Highland Capital's geographic reach, expands Argent Financial's portfolio management services, and gives the combined firms more than $4 billion in assets under management.
Highland Capital Management, founded in Memphis 25 years ago, is an investment advisory firm specializing in the management of equity and fixed income portfolios for clients in the private, corporate and public sectors.
Argent Financial Group is a full-service wealth management firm that provides clients with a broad array of financial services built from its core of trust management. The combined entity of Argent Financial and Highland Capital will be responsible for more than $4.3 billion in client assets. Following completion of the merger, Highland Capital will retain its name and management team, led by Steve Wishnia, president of Highland Capital. Argent will continue doing business through its other subsidiaries under the Argent brand name, according to Kyle McDonald, founder and chief executive officer of Argent Financial Group.
Wishnia will join Argent Financial Group's board of directors. Current Argent portfolio managers are projected to join Highland during the current year as the two firms combine portfolio management resources under the Highland Capital banner. The expanded Highland Capital team will provide oversight and ongoing management for all portfolio management functions of the combined firms.
"We believe there are significant opportunities resulting from the combination of Argent Financial Group and Highland Capital, and that we fit well together, both professionally and culturally," Wishnia said. "Importantly, Highland will now have access to a much broader geographic presence to deliver portfolio management services."
Highland Capital's extensive experience in portfolio management expands Argent's ability to deliver a full range of client services, including trust and retirement plan administration, comprehensive investment management, and mineral (oil and gas) wealth management.
"Combining resources with Steve Wishnia and the team at Highland Capital offers our growing client base access to additional portfolio management expertise," McDonald said. "We already have a significant presence in Tennessee, and the opportunity to combine with a proven, respected firm such as Highland is a perfect fit. We look forward to working with Steve and his team to provide customized wealth management services to existing and new clients."
Media Contact: Aarin Alford Argent Financial Group, 318.251.5815, firstname.lastname@example.org
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SOURCE Argent Financial Group