RMB Capital has agreed to acquire Milwaukee-based investment advisory firm Jacobus Wealth Management (JWM) for an undisclosed sum.
The transaction will add $860m in assets under management to Chicago-based independent financial services firm’s portfolio of $8.4bn assets under management.
Post acquisition JWM will be rebranded as RMB Jacobus and will continue operations in its existing location.
All the JWM employees, including JWM chairman and CEO Peter Bach and JWM president and chief investment officer Dan Matola, will retain their roles and become RMB staff.
Bach said: “RMB holds themselves to the same high standards of service that we do-and that our clients deserve and expect. The caliber and depth of RMB’s team is remarkable, and we are excited for the opportunity to tap into their investment, planning, and operations resources for the benefit of our clients.”
RMB founding partner, CEO and CIO Richard Burridge said: “JWM is well-known in Milwaukee, where the team has established a reputation for the quality of service they provide to their clients.
“JWM also brings deep expertise in family office services, which is invaluable as we continue to develop that practice at RMB.”
JWM was established in 1985 by Richard Jacobus and offers investment advisory, family office, tax and financial planning services to clients.
The transaction is expected to close on 30 November 2017.