Harris Private Bank has acquired Stoker Ostler Wealth Advisors, a fee-only financial planning and investment firm based in Scottsdale, Ariz.

The terms of the acquisition were not disclosed.

Ostler, founded in 1997, is a multifamily office that serves high-net-worth individuals and families, as well as small- and medium-sized businesses, according to Harris spokesman James Kappel. The firm has 18 employees, he added.

Stoker Ostler will keep its name and identify itself as an affiliate of Harris, Kappel said. Stoker Ostler's managing partners have agreed to stay on with the company, including co-founder Phil Stoker, he said.

"That was a major objective of ours," he said.

Harris stated that the acquisition will expand its operations in Arizona and give it a presence in Salt Lake City, where Stoker Ostler also has an office.

"One of our goals has been to expand our operations in the Scottsdale market and this acquisition enables us to expand our reach and enhance our capabilities," said Terry Jenkins, president and CEO of Harris Private Bank.

The Salt Lake City location, and the Arizona offices of Stoker, will add to offices Harris already maintains in the states of Arizona, Florida, Illinois, Indiana, Virginia, Washington and Wisconsin.