Merger gives sub-advisory's sister company $1 billion under administration. Dunham Trust Company (DTC) has acquired Adagio Trust Company, a multi-discipline trust company that offers financial management, fiduciary administration and concierge services to ultra-wealthy families. The newly merged company has more than $1 billion in assets under administration.

Financial terms of the transaction weren't disclosed. Both firms are based in Reno, Nev.

Added capabilities

"Combining our two firms strengthens our position in the trust and asset management areas," says DTC's chairman Jeffrey Dunham. "We'll be even better equipped to meet the needs of our valued clients through a complete and highly competitive suite of trust and asset management investments and services."

Jeffrey Dunham is also president and CEO of Dunham & Associates Investment Counsel (DAIC), a San Diego-based fund sub-advisory, and head of DAIC's and DTC's parent company Dunham & Associates Holdings.

As a result of the merger, Adagio loses its name and becomes part of DTC.

Adagio's president and CIO David Holmes figures the tie-in with DTC "will achieve exactly what we wanted to provide our customers: financial strength together with added investment and trust capabilities." -FWR

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