Sanders Morris Harris Group Inc. yesterday announced it expanded its wealth management practice by buying a majority interest in Leonetti & Associates, a fee-based independent firm with a focus on serving doctors. Terms of the deal weren't disclosed.

The deal is the fourth acquisition over the past year for the wealth management arm of Sanders Morris, a Houston-based financial services holding company with roughly $17 billion in assets under management.

Based in the Chicago suburb of Buffalo Grove, Illinois, Leonetti manages about $400 million in assets.