Stifel subsidiary acquires $1.3 billion San Francisco-based RIA

Purchase of Rand & Associates gives 1919 Investment Counsel a physical presence on the West Coast

Oct 2, 2018 @ 1:37 pm

By Sarah Min

1919 Investment Counsel, a subsidiary of Stifel Financial Corp., has acquired San Francisco-based independent registered investment adviser Rand & Associates, which manages approximately $1.3 billion in client assets.

"The Rand acquisition gives 1919 a long-sought physical presence on the West Coast where we already serve many clients," Harry O'Mealia, president and chief executive officer of 1919 Investment Counsel, said in a statement.

Together, Maryland-based 1919 and Rand have more than $12 billion in assets under management.

1919 has a team of 20 portfolio managers managing more than $11 billion in client assets, while Rand has a team of 11 professionals who manage $1.3 billion in assets for more than 400 clients.

The terms of the transaction were not disclosed.

(More: Focus Financial acquires TAMP for $235 million)


What do you think?

View comments

Recommended next


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 It'll help us continue to serve you.

Yes, show me how to whitelist

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


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print