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.