Integrated Partners, a Boston-based registered investment advisory firm with $7.8 billion in assets, said Tuesday that one of its affiliates, Integrated Financial Partners, had acquired another firm and as a result, almost doubled its assets, to $810 million.
Fairfax, Virginia-based Integrated Financial Partners, led by Leal Deddens and Shawn Wilson, previously had $450 million in client assets, according to a statement by the companies. It acquired Wagner Resources Group, an RIA based in McLean, Virginia.
Two advisers from Wagner will join Integrated Financial Partners, bringing its team to 9, including five advisers and four staff members.
Terms of the deal were not disclosed. Integrated Partners has 160 advisers and 60 regional offices.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
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"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
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Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
