Missouri-based Stifel Financial has agreed to acquire Ziegler Wealth Management, the Illinois-based wealth management arm of B.C. Ziegler & Company (Ziegler), for an undisclosed sum.
Ziegler Wealth Management was set up in 1902 and has 12 branches across five states. The firm oversees nearly $4.8bn in assets and employs 57 private client advisers.
Stifel chairman and CEO Ronald Kruszewski said: “The addition of the Ziegler businesses is another step in the growth strategy for Stifel.
“We have worked with the management team at Ziegler in the past and we are excited to add not only a growing and profitable business to our platform but one whose culture of integrity and putting the client first is very similar to our own.”
The deal is expected to be completed in the first quarter of 2018.