Mesirow has added a high-net-worth and ultra-high-net-worth registered investment advisory firm in a deal which expands its wealth management offering.
The addition is Chicago-based Front Barnett Associates, founded in 1994 and led by Marshall B. Front, Mickey MacMillan and Peter Wahlstrom, which had more than $1.2 billion in assets under supervision as of June 30.
"We are excited to welcome the Front Barnett team to Mesirow," said Natalie Brown, Mesirow CEO. "Their capabilities and commitment complement our firm's 86-year history of advising families, entrepreneurs and non-profits on their most important financial goals, and this acquisition aligns well with our focus on comprehensive, personal financial planning."
The new team’s capabilities will give Mesirow clients access to fundamentally driven, actively managed equity and fixed income strategies while Front Barnett clients will continue to benefit from the capabilities and client service they know, while gaining a prominent parent firm with deep resources, strong capital, and robust infrastructure.
Front Barnett will operate as a distinct platform within the broader Mesirow Wealth Management offering, branded as Front Barnett, A Mesirow Company. The transaction is expected to complete towards the end of September subject to customary closing conditions.
The existing Front Barnett leadership will also remain in place.
"Our partnership with Mesirow brings important benefits to our clients and firm," said Marshall B. Front, who founded the firm in 1994. "We will gain additional expertise and support in managing compliance, technology and administrative matters as we continue to seek competitive investment returns and deliver the high level of personalized financial advice and communications our clients expect."
Pew survey reveals slight majority consensus on tax rates, but views splinter based on political alignment and income levels.
While the Federal Reserve's decision to hold interest rates steady in March was widely expected, it's the reactions from financial professionals that provide a more nuanced picture of the central bank's approach.
The pioneering member of Canada's Maple Eight is stepping back from its go-it-alone private equity approach as a drought in deals and Trump's trade war prompt a rethink.
The firms' latest additions in Florida and Nevada come as a strategic change at UBS raises risk of advisor defections.
The new program offers opportunities and events structured for rookies, next-gen advisor leaders, and soon-to-exit veterans.
In an industry of broad solutions, firms like intelliflo prove 'you just need tools that play well together'
Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies
