Stifel to acquire $4.8 billion Ziegler Wealth Management

Chicago-based Ziegler to keep institutional, investment banking businesses

Oct 30, 2017 @ 11:09 am

By InvestmentNews

Stifel Financial Corp. has agreed to acquire Ziegler Wealth Management, the retail business of B.C. Ziegler & Company. Terms of the transaction were not disclosed and it is expected to close in the first quarter of 2018.

Chicago-based Ziegler Wealth Management oversees $4.8 billion in client assets and has 57 brokers working in 12 branches in five states. Stifel, based in St. Louis, Mo., manages about $240 billion in retail assets and has some 2,300 advisers at 360 branches.

"The sale of our wealth management division to Stifel allows us to tighten Ziegler's focus on our institutional offerings, such as investment banking, capital markets and fund management, for clients in the health-care, senior living and education sectors, said Tom Paprocki, CEO of Ziegler.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

The bizarro world of DOL and SEC rule supporters

Managing editor Christina Nelson talks with senior reporter Mark Schoeff Jr. about why groups that supported the Labor Department's fiduciary rule oppose much of the SEC advice package, and vice versa.

Latest news & opinion

10 most affordable U.S. cities for renters

Here are the U.S. cities that are most affordable for renters, according to Business Student.com, which compared the cost of rent to average salaries.

9 best - new - financial adviser jokes

Scroll through for nine new financial adviser laughs.

Captrust, prominent 401(k) advice firm, ramps up its wealth management business

Captrust wants to grow annual revenue from wealth management to 50% from 30% over the next five years.

Fidelity CEO says zero-fee funds aimed at expanding its universe

Johnson says way to prosper in financial services is 'by building relationships.'

SEC advice rule contains a huge hole

Jay Clayton aims to clear up investor confusion by drawing a distinction between brokers and advisers in the agency's proposed package of revised standards. But where do dual registrants fit?

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print