Telemus Financial Life Management has acquired Chicago-based Barrington Strategic Wealth Group (BSWG).
“Barrington Strategic Wealth Group’s separately managed account strategies will be just one of the many benefits we will be able to offer to Telemus clients from the acquisition,” says Gary Ran, Chairman/CEO of Telemus.
BSWG boasts a large client base with USD350 million in assets. The firm specialises in addressing the needs of high net worth clients who focus on conserving money. At the helm, since its inception in 2009, sits Diana Joseph who joins Telemus as a partner and Co-Chief Investment Officer.
“This transaction allows us to leverage the substantial operational capabilities of Telemus and Focus, provide robust manager due-diligence and research, add diverse separate account strategies to
Telemus and sophisticated planning capabilities to Chicago,” says Joseph. “It is a win for everyone.”
The acquisition is the latest strategic move for Telemus which began working under the nationally known Focus Financial Partners in 2013. Under the Focus umbrella, Telemus is part of a network of independent firms that benefit from organisational and transitional support, helping groups like Telemus stay focused on client needs.
“Barrington Strategic Wealth Group marks the first significant transaction we’ve entered into since our partnership with Focus Financial,” says Ran.