Texas wealth manager chalks up a another private-client deal. Houston-based Encore Bank has agreed to buy financial planning firm Linscomb & Williams, also of Houston, in a bid to acquire more clients while deepening its overall wealth-management offering.

The firms didn’t disclose further details of the transaction.

Adding Linscomb & Williams to Encore’s private banking, personal trust and insurance units “expands and enhances” the bank’s wealth management service roster, says Encore chairman and CEO James D'Agostino Jr. He adds that Linscomb & Williams will operate as an independent affiliate of Encore and that its team will stay on after the merger is completed this summer. Linscomb & Williams had 17 employees as of mid December 2004.

On a roll

Linscomb & Williams has a cultural affinity with Encore, according to Linscomb & Williams president Daniel Linscomb. “We have a shared dedication to outstanding service and building lasting client relationships,” he says. Equally important, he adds, is the chance the merger affords Linscomb & Williams to “offer our combined client base even more financial expertise and wealth management solutions than before.”

Linscomb & Williams’ roughly $1.2 billion in assets under management brings combined with those of Encore Trust Company’s total nearly $2 billion in assets under management.

Encore Bank has been busy lately. In addition to relocating its 150 employees to new offices in March, it just completed its acquisition of National Fiduciary Services (now Encore Trust), a Houston-based personal trust company. In January it purchased John A. Bumstead & Associates, a Houston-based personal insurance agency.

Linscomb & Williams is an independent registered investment advisory of former attorneys and accountants. It provides fee-based financial planning and investment management services.

Encore Bank and its affiliates offer private banking, personal trust and insurance services to professionals, corporate executive, entrepreneurs and affluent families. –FWR