Westwood Holdings Group, Inc. (NYSE: WHG) announced that it has reached an agreement to acquire McCarthy Group Advisors, LLC (MGA), a registered investment advisor based in Omaha, Nebraska. MGA managed over $1 billion in private wealth and institutional client assets as of June 30, 2010, and serves as the advisor to the McCarthy Multi-Cap Stock Fund (MGAMX), a no-load mutual fund. It is expected that MGA will operate as an Omaha branch of Westwood Trust, a wholly-owned subsidiary of Westwood. Westwood had total assets under management of $9.7 billion, including $1.8 billion under management at Westwood Trust, as of June 30, 2010. The transaction is anticipated to close in the fourth quarter, and is expected to be accretive to the earnings of Westwood Holdings Group.

"We have been seeking opportunities to expand the Westwood Trust platform into additional markets and have found an excellent fit in McCarthy Group Advisors,” stated Brian Casey, Westwood's President and Chief Executive Officer. “MGA is one of the leading wealth management firms in the Omaha market and is managed by an outstanding group of professionals who share our philosophy of providing clients with superior long-term investment performance and attentive service.”

Art Burtscher, Chairman of McCarthy Group Advisors, commented, “The combination with Westwood will provide our clients with expanded investment opportunities and continuity in the investment process and discipline which have guided McCarthy Group Advisors for over two decades. Westwood’s depth of resources will also enable us to increase our presence in the Omaha private wealth and institutional markets. We are proud to be joining the Westwood team and are confident in their approach to investment management services.”

Susan M. Byrne, Westwood’s founder, Chairman, and Chief Investment Officer, commented, “We are pleased to welcome MGA’s founder and Chief Investment Officer, Rich Jarvis, to our investment team. Rich is a seasoned investment professional with a deep knowledge of portfolio management and a successful long-term track record.”