Covenant Multifamily Offices of San Antonio, Texas, announced Thursday it bought Bridge Wealth Management, a privately owned wealth management firm based in Tyler, Texas.

Effective Thursday, Bridge will be rebranded as Covenant Wealth Management.

With the acquisition, Covenant adds 126 client relationships representing $200 million in investable assets, bringing the firm’s total assets under management to $1.3 billion.

Covenants said that the acquisition is a “significant step” toward its plan to expand its footprint in key markets and to make its integrated services available to a broader array of wealthy investors.

“The Covenant Wealth Management presence in Tyler heralds a larger, groundbreaking strategic business initiative,” said John Eadie, Covenant’s founder and managing partner. “Most wealth management firms are endeavoring to grow from the ground up, scaling their practices year after year with the goal of one day offering the boutique, high touch family office services reserved for ultra high worth clients. For the Wealth Management brand, we’ve deconstructed our family office service model, effectively making many of the exclusive, family office-oriented investment strategies, technology and personalized client services attainable to high net worth individuals and families.”

Thomas Smith, Bridge’s founder, will continue to head the Tyler practice under the Covenant Wealth Management brand. He will become director and wealth strategist for Covenant Wealth.

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