Stifel Financial Corp. has agreed to acquire certain assets of George K. Baum & Company, a Kansas City, Mo.-based broker-dealer specializing in municipal securities.
The transaction, terms of which were not disclosed, is expected to close in the fourth quarter.
Founded in 1928, George K. Baum maintains 24 offices nationwide, including public finance offices in 22 cities. It is active in Colorado, Kansas, Missouri and Utah, and is active nationally in the underwriting and marketing of securities involving housing, higher education and independent schools.
The transaction does not include George K. Baum Capital Advisors or Baum Capital Partners.