Financial services holding company Sanders Morris Harris Group Inc. this week announced it acquired a 25% ownership interest in iPro One, Inc., and a note convertible into an additional 25%. iPro One provides more than 1,000 CPA practices with investment systems and products.

Sanders Morris manages roughly $15.8 billion in client assets. Its subsidiaries and affiliates provide wealth advisory, asset management, and capital markets services to individual and institutional investors, as well as middle-market companies.

iPro One has signed letters of intent to purchase interests in CPA affiliated advisory firms with more than $1.5 billion in aggregate assets under management. Assuming these transactions are completed, they will bring Sanders Morris Harris Group's total assets under management to $17.3 billion. Additional letters of intent will be entered into as the company expands its acquisitions nationwide.