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."
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.
Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
