US-based wealth management firm Plancorp has purchased 1926 Investment Advisors, a fee-only advisory firm with $120m in assets under management.
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The deal will boost Plancorp’s total assets under management to $2.8bn. Financial terms of the transaction have not been disclosed
The acquisition comes in line with Plancorp’s plan for long-term commitment to serve small to mid-sized institutions and nonprofits.
As part of the deal, 1926 president Charley Meyer and associate Beth Thomas will remain at their Webster Grove office under the Plancorp name.
Additionally, Meyer will join the Plancorp ownership group, which includes Kerckhoff, Jeff Buckner, Steve Frank, Larry LeGrand, Brian Wiedermann, Chad Frazier, Brian King, Tom Goldberg and Susan Conrad, Ryan Miller and Kyle Attarian.
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By GlobalDataPlancorp president Chris Kerckhoff said: "We are thrilled to bring on this seasoned advisory team as we continue to grow and strengthen the firm and look toward long-term independence."
