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.
Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
Celebrity endorsements, $500M in claimed assets, and a state regulator stepping in.
“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
