Vestor Capital, a Chicago-based registered investment advisory firm managing $945 million, has agreed to acquire Oak Asset Management, an RIA managing $209 million in Oak Brook, Illinois. The transaction, the terms of which were not disclosed, is expected to close in the fourth quarter.
Scott Stuth, who co-founded Oak in 2006, will join Vestor. The firm’s two other co-founders will remain with a local accounting firm in which they are partners.
Vestor is a partner firm of Focus Financial Partners, which arranged the transactions.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
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