Al Frank Asset Management buys Innealta

Al Frank Asset Management Inc. today announced it has acquired Innealta Portfolio Advisors LLC, a quantitative asset management firm specializing in the creation and tactical management of exchange-traded fund portfolios. “This acquisition marks our most recent step in an aggressive plan for building a boutique provider of world-class investment expertise and solutions for the evolving needs of advisers and individual investors,” Jeff Montgomery, chief executive of Al Frank Asset Management, said in a statement. “We are building a firm focused on delivering platinum level services to discerning advisers and high net worth clientele.” Terms of the sale were not disclosed. Innealta has over $650 million in managed assets, increasing Al Frank’s total managed assets to $1.1 billion. Al Frank offers separately managed accounts and two proprietary mutual funds.