Editor's note: This story has been corrected to adjust the characterization of the transaction.
360 Financial, a Wayzata, Minnesota-based boutique wealth management firm, announced that it has merged with Fleming Investment Group, an Elk River, Minnesota-based financial planning practice that manages approximately $529 million in client assets.
Financial terms weren’t disclosed.
The combined company will operate under the 360 Financial brand and serve more than 1,000 clients, 360 Financial said in a press release Monday.
Mike Rogers will continue as the founder and president of 360 Financial. Fleming Investment Group's former president, Brian Bohnsack, will take on the roles of senior vice president of 360 Financial and managing principal of the Elk River location.
"This new partnership also brings a local team of specialists that can assist us in many areas like investment management, advanced financial planning, and client service support," Bohnsack said.
The headquarters for the combined company will be in Wayzata.
"We are excited to join forces with Fleming Investment Group," Rogers said. "This opportunity is great for our firm to expand into the Northwest metro area."
A $141M judgment and a federal asset freeze collide over one shrinking pool
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
