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US Wealth Manager Continues on Acquisition Trail
Garrison Financial Corp of the US has acquired Tahoe Advisers, an SEC-registered investment adviser. Eight employees from Tahoe's Englewood Cliffs New Jersey headquarters and Chicago office will join Garrison, raising the combined operation to around 30 strong. Garrison Financial provides financial services to family offices, boutique investment managers, regional broker-dealers, high net worth individuals, regional banks and mid-sized corporations and is headed by chairman and chief exeucutive Tom Garrison, former chief executive of FedEx Freight. Earlier this year Garrison Financial bought Garner Asset Management of Northwest Arkansas. Garner was formerly known as Llama Asset Management, a company founded by Alice Walton. The company said at that time that it planned to open offices in Austin, Texas, Dallas-Fort Worth, Las Vegas and Phoenix by 2008.