BMO Financial Group has signed a definitive agreement to acquire CTC Consulting, an SEC-registered investment advisor with around $24 billion in assets under advisement.

BMO Financial Group has signed a definitive agreement to acquire CTC Consulting, an SEC-registered investment advisor with $24 billion in assets under advisement, which it will combine with its US ultra high net worth wealth management business, Harris myCFO.

With the deal, BMO is expanding its geographic footprint on both the East and West coasts, the Canadian firm said in a statement. CTC, which was founded in 1981 as Capital Trust Company, is headquartered in Portland, OR and also has main offices in Boston, MA and Darien, CT.

CTC became majority owned by its employees after a management buyout in 2008 from Bank of America.

Terms of the deal with BMO weren’t disclosed, but it is expected to be finalized in the second quarter of 2012.

“CTC Consulting’s executive committee members will continue to have key leadership positions in the combined firm and clients will continue to work with the same professionals,” BMO said in a statememt.

According to CTC Consulting’s website, its executive committee is made up of: Garbis Mechigan, chairman and chief executive, managing partner; Kristi Hanson, president and director of research, managing partner; Karen Harding, senior consultant and director of consulting, managing partner; Michael Finan, senior consultant, managing partner; Curt Fintel, chief investment strategist, managing partner; and Robert Gray, chief operating officer, managing partner.

“CTC Consulting’s strong client focus aligns perfectly with BMO and complements our existing ultra high net worth investment offering by strengthening our manager research and advisory capabilities, especially in the area of alternative investments,” said Gilles Ouellette, president and chief executive, private client group, BMO Financial Group.

BMO had not responded to a request for further information at the time of publication.