Illinois-based wealth manager Sentinus has merged operations with local investment advisory firm Money Managers Financial Group (MMFG).
The deal brings $250m of assets under advisement to Sentinus.
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Money Managers employees will continue to operate out of their Oak Brook, Illinois office.
MMFG principal and co-founder Nancy Coutu said: “The opportunity to join together with Sentinus allows us to continue offering our clients the same guidance and direction they have relied on us for to meet their goals, while enjoying new benefits Sentinus is able to offer, such as cutting-edge technology and a first-in-class design team.”
MMFG focuses on asset management and protection, life insurance, long-term care along with charitable giving.
Founded in 1987, the firm is headed by Coutu and John Gajkowski.
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By GlobalDataIn a financial career spanning over three decades, Coutu has been involved in industry organisations including Woman’s Worth, DuPage Estate Planning Council, Ed Slott’s Master Elite IRA Advisor Group and The Society for Financial Awareness.
Gajkowski too has spent over 30 years in the financial services sector.
During this time, he has custom designed retirement and estate planning seminars for Fortune 500 firms.
At the same time, he is a member of The Society for Financial Awareness and teaches at local community colleges.
Commenting on the latest deal, Sentinus CEO Phil Johnson said: “MMFG takes a similar approach to client service by focusing primarily on a planning-centric methodology, everything they do for their clients circles around this concept, making them a great fit for our business and culture.
“Both Coutu and Gajkowski have tremendous reputations and experience within the financial service industry, further adding to our robust advisory resources.”
Meanwhile, Sentinus offers a range of services. These include risk and opportunity assessment, estate transfer and asset protection, investment analysis and management, business succession, customised insurance solutions, as well as philanthropic planning.
The US asset management space has seen several major deals this year, the latest being Franklin Templeton’s acquisition of rival Legg Mason for $4.5bn.
Brookstone Capital Management and FormulaFolios, both US-based RIAs, also recently merged operations to form a $6.5bn business.
