Stifel Financial has completed the previously announced acquisition of 1919 Investment Counsel & Trust Company, formerly known as Legg Mason Investment Counsel & Trust.
The acquisition will boost Stifel’s assets under management to over $16bn and will allow to expand its asset management capabilities.
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1919 Investment Counsel, which manages over $9bn in assets, offers investment advisory, trust and family offices services to individuals, families, and institutions across the country.
Harry O’Mealia, president and CEO of 1919 Investment Counsel, said: "We’ve built our business on the idea that if we provide sound advice and counsel, always putting our clients’ interests before our own, our firm will prosper alongside our clients."
