LaSalle St. says it has lured a wealth management practice from Avantax Advisory Services in Texas.

Chesnut & Associates offers wealth and asset management, financial planning and tax planning services to individuals and business clients, overseeing more than $125 million in client assets, according to LaSalle St.

The firm’s founder and president, Troy Chesnut, has more than 35 years of experience serving clients, LaSalle St. says.

The practice also includes Troy Chesnut’s grandson Cameron Crone, a financial advisor, and six other staff. Cameron Crone is projected to take over the practice in the coming years as part of a succession plan supported by LaSalle St., the company says.

Founded in 1974, Chicago-based LaSalle St. includes independent broker-dealer LaSalle St. Securities, registered investment advisor firm LaSalle St. Investment Advisors and annuity and insurance provider LaSalle St. Insurance Services.

LaSalle St. says it supports more than 300 financial advisors managing more than $12 billion across the country.