Stifel Financial Corp is to acquire BC Ziegler & Company’s wealth management business, Ziegler Wealth Management. Terms of the transaction, which is expected to close in Q1 2018, have not been disclosed.
Established in 1902 and headquartered in Chicago, Illinois, Ziegler Wealth Management has 57 private client advisors in 12 branches across five states that manage approximately $4.8 billion in client assets.
“The addition of the Ziegler businesses is another step in the growth strategy for Stifel. We have worked with the management team at Ziegler in the past and we are excited to add not only a growing and profitable business to our platform but one whose culture of integrity and putting the client first is very similar to our own,” says Ronald J Kruszewski, Chairman and CEO of Stifel.
“With more than 115 years of experience, Ziegler is known for our depth and breadth of services, the integrity of our operations and client counsel, and the positive impact we have on the communities we serve,” says Tom Paprocki, CEO of Ziegler. “The sale of our Wealth Management division to Stifel makes strategic sense, as it allows our colleagues to grow with a company that has an equally impressive 128-year history of helping clients achieve their financial goals. Simultaneously, this move allows us to tighten Ziegler’s focus on our institutional offerings, such as investment banking, capital markets and fund management, for clients in the healthcare, senior living and education sectors. These are capabilities upon which we were founded, and for which today we are nationally recognised.”