Brown Ad­vi­sory ac­quires Austin in­vest­ment firm

Baltimore Sun - - NATION - — Sarah Gantz

Brown Ad­vi­sory, a Bal­ti­more-based in­de­pen­dent in­vest­ment firm, has ac­quired a small Austin, Texas, in­vest­ment com­pany to es­tab­lish an of­fice there. The four-per­son staff at Black­haw Wealth Man­age­ment will join Brown Ad­vi­sory. The firm’s founder, Ian McAbeer, will serve as head of the Austin of­fice. Fi­nan­cial terms of the deal were not dis­closed. Three fi­nan­cial ad­vis­ers from Austin-based Oxbow Ad­vi­sors also will join the new Brown Ad­vi­sory of­fice, but Brown is not ac­quir­ing that firm, a spokesman said. “When we meet good folks with sim­i­lar mis­sions ... a de­ci­sion to in­vest in them be­comes rel­a­tively easy,” said Mike Hankin, pres­i­dent and CEO of Brown Ad­vi­sory, in a state­ment. Brown Ad­vi­sory was founded in 1993 as an af­fil­i­ate of for­mer Bal­ti­more in­vest­ment bank Alex. Brown & Sons, and be­came in­de­pen­dent in 1998.

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