Family Wealth Practices LLC, an Oxford, Miss.-based RIA specializing in multigenerational wealth planning, has been acquired by Argent Financial Group, a wealth and financial services firm based in Ruston, La., Argent announced.
Argent now has eight subsidiaries providing wealth and financial services, including two RIAs. Family Wealth Practices was founded in 2008 by Mark Hartnett, who will lead the new Argent unit that will be known as Argent Family Wealth Services.
J. Phil Buchanan, Argent Financial Group's president, said acquiring an established firm that specializes in generational wealth counseling broadens Argent’s financial offerings and primes the company for continued growth.
“In every Argent market, there are individuals in need of a multi-generation family wealth plan that balances the financial, philanthropic and historic legacy they want to pass along,” Buchanan said in a press release. "History has shown that financial success in one generation does not necessarily translate to financial success in the succeeding generations”
Previously, Hartnett practiced corporate law at Southern Farm Bureau Casualty Insurance Company and led bank trust departments in the Southeast from 1999 to 2008.