US-based Stifel Financial has signed an agreement to acquire Ziegler’s wealth management business for an undisclosed sum.
Based in Chicago of Illinois, Ziegler’s wealth management has 57 private client advisors in 12 branches across five states. It manages around $4.8bn in client assets.
The deal is expected to complete in the first quarter of 2018.
Ziegler offers its clients with capital raising, strategic advisory services, as well as equity and fixed income sales and trading and research.
The firm is specialized in providing services to the customers in the healthcare, senior living and education sectors.
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.”
Ziegler CEO Tom Paprocki said: “The sale of our Wealth Management division to Stifel makes strategic sense, as it allows our colleagues to grow with a company that has an equally impressive 128-year history of helping clients achieve their financial goals.”
Based in St. Louis of Missouri, Stifel is a financial services firm that manages banking, securities, and financial services businesses through various wholly owned subsidiaries.
The firm’s broker-dealer affiliates offer securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities.
Ziegler offers its clients with capital raising, strategic advisory services, as well as equity and fixed income sales and trading and research.
Image: Stifel global headquarters in St. Louis, Missouri. Photo: courtesy of Whartonmba.