Harris Private Bank in Chicago, a Bank of Montreal unit, announced Monday it acquired Stoker Ostler Wealth Advisors in Phoenix.

The move is expected to expand Harris' operations in Arizona. Founded in 1997, Stoker Ostler is a fee-only financial planning and investment advisory firm for high-net-worth individuals and families. It also has an office in Salt Lake City.

The price of the deal was not disclosed.

Harris has had offices in Arizona for over 30 years.

In addition to the acquisition, Harris has hired two wealth management professionals in the Phoenix area.

It hired Matt Miller as a senior wealth strategist for the Arizona market. He was a senior wealth manager for J.P. Morgan Private Wealth Management.

It also hired Michael Montgomery to run its new Harris myCFO Inc. office in Scottsdale, Ariz. He was a managing director with Tolleson Wealth Management, a multifamily office and private bank in Dallas.

The Scottsdale office is the eighth Harris myCFO office.

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