US-based Harris Private Bank has acquired the wealth advisory business Stoker Ostler, which operates out of Arizona, for an undisclosed sum.

The acquisition is designed to increase Harris’s business in Arizona as well as add a presence in Salt Lake City, Utah, Harris said in a statement.

"Stoker Ostler has an exceptional team of professionals and a tremendous reputation for delivering excellent client service that is tailored to each of their client's needs," said Terry Jenkins, president and CEO, Harris Private Bank. "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."

Founded in 1997, Stoker Ostler is a fee-only financial planning and investment advisory firm, focusing on high net worth individuals and families.

Harris Private Bank has had a presence in the Arizona market for more than 30 years.

As part of the move, Harris has appointed Matt Miller as a senior wealth strategist for the Arizona market. He previously worked at JP Morgan Private Wealth Management as a senior wealth manager.

Michael Montgomery has joined the Arizona Harris team to lead its new Harris myCFO office with a focus on delivering a comprehensive family office solution to ultra high net worth individuals and families. He previously worked as a managing director with Tolleson Wealth Management, a multi-family office based in Dallas.