Argent Financial Group, a Louisiana-based independent client asset services firm, will acquire Orleans Capital Management, effective Jan. 1, 2024, confirmed a spokesperson for Argent.
Terms of the transaction were not disclosed, the spokesperson added.
The transaction will allow Orleans to leverage Argent's "extensive network of seasoned experts and comprehensive suite of wealth and asset management services," said a Dec. 18 release.
Orleans will continue to operate as a standalone entity under the "Orleans Capital Management" brand and Emily Becker will continue to lead the firm as president and chief investment officer, the release added.
Argent is responsible for more than $65 billion in client assets, the release noted.
As of Dec. 31, 2021, Orleans managed $1.6 billion in assets, according to the firm's website.
